Welcome back to another episode of the Startup Junkies podcast! In this episode, Caleb Talley, Jeff Amerine, and Matthew Ward chat with James Hereford, co-founder and partner at Launch Factory. James is originally from Ponca City, Oklahoma, and he graduated with an undergraduate degree from the University of Oklahoma before earning an MBA from Rice University. Launch Factory is a venture studio that generates business ideas, pairs the ideas with founders, and provides the founders with the necessary tools to get the company off the ground. James and the guys talk about the venture studio model, launching businesses, planning for an exit, and much more. Thanks for listening!
(1:49) Introducing James Hereford and Launch Factory
(7:54) The venture studio model
(12:00) Recruiting founders
(16:29) Challenges with the scaling process
(21:59) What types of businesses is Launch Factory creating?
(23:54) Planning for an exit
(26:10) Advice for the younger self
(27:32) Wrap up
“We prioritize finding concepts that meet a certains et of business criteria. So, you know, we want to see potential for a $100+ million exit. We want to see fundable milestones within the first two years, because that 300k only gets you so far. And so, whatever the concept is, we have to be sure that around month 12 or 15, we’re going to be able to hit a milestone that we can go and raise a seed round on.” (22:15)
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