On today’s show, we have Mike Smerklo, author of Mr. Monkey and Me: A Real Survival Guide for Entrepreneurs and co-founder of the VC firm Next Coast Ventures, which helps the best entrepreneurs in the world as they build disruptive businesses. The team at Next Coast Ventures has raised over $7 billion in capital and created exit values of over $30 billion. He’ll share the mindset that brought him success, how he gained it and what he learned along the way. I’m excited to have him on the show because most people think what he’s accomplished is out of reach, and that’s just not the case. We’ll do a deep dive into the mechanics of his three rounds of financing so you can see just how doable it is. Listen for tips on managing and treating customers, the benefits of going IPO and how to get your team on board, and why he’d never make a deal without tying equity to both sides of the table. Mike has achieved 40% year-over-year, so this is an episode you don’t want to miss.
My big takeaway from this episode is, even someone as successful as Mike (with all of his achievements), the fact that he still second-guesses his success is proof that we’re all human. You should recognize that the things that you intentionally accomplish over time is well deserved. A really clear plan will help dissolve that impostor syndrome. Education is another thing that will help dismiss and get rid of impostor syndrome and will ensure that you’re living and working intentionally.
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Mike Smerklo is an experienced entrepreneur, investor and business leader driven by the desire to turn ideas into reality. Having bought and scaled a small business into a publicly traded company worth nearly a billion dollars in value, he has a deep understanding of the hard work, dedication and grit that truly powers successful entrepreneurship. Today, as the co-founder and managing director of Next Coast Ventures, Smerklo is a champion for a new generation of entrepreneurs building disruptive companies in big markets. His new book, Mr. Monkey and Me (Scribe Media, Nov. 17 2020), is a “real talk” guide for entrepreneurs who want to cut through the noise to cultivate a mindset that supports greatness.
7:13 - “A lot of entrepreneurs have a chip on their shoulders.” – Mike Smerklo
11:00 - “Well, I’m the entrepreneur. I’m the CEO. I should know everything.” – Mike Smerklo
18:28 - “If you ask people they’re good drivers, and all ten people raises their hands, there shouldn’t be any accidents, right?” – Mike Smerklo
21:22 - “Go find someone who has sold a similar business recently who can give you practical advice.” – Mike Smerklo
29:52 - “My economic relationship with my equity investors was tied to performance.” – Mike Smerklo
45:08 - “Whenever you’re going to raise capital, think about what the person who is giving you money is expecting out of that transaction.” – Mike Smerklo
50:05 - “We expect 30-40% to fail. We expect there to be a pretty high failure rate. We expect that a couple will do okay. And then one or two are going to blow it out of the water.” – Mike Smerklo
Mr. Monkey and Me: A Real Survival Guide for Entrepreneurs, by Mike Smerklo
Mike Smerklo’s Official Website
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