Summary
Welcome to episode 266 of the Startup Junkie’s Podcast!
For this episode, Caleb Talley and Jeff Amerine sit down with Hall T. Martin of TEN Capital Network. Whether it’s discovering helpful tips on improving your pitches to VC funds or how to get the most out of raising capital for your startup, you will NOT want to miss this one!
Thanks for tuning in!
Shownotes
(0:55) Introducing Hall T. Martin
(5:14) Creating TEN Capital Network
(7:26) Venture Scaling Route
(11:41) Funding as a Service
(14:47) What’s Next for the Funding World?
(20:53) Recipe for a Successful Angel Network
(25:16) Events for Startups
(26:59) Simplifying Reports On Investments
(29:58) Why Join Angel Investing?
(32:01) Advice To Younger Self
(33:30) Wrap Up
Links
Quotes
“It was all about student education, student experience, and job placement. The angels that came together, that was their ‘why.’ That’s where I really learned that if the “why” is just to make money, you’re going to have a 30% turnover rate every 12 to 18 months.”
(4:17) – Hall T. Martin
“I’m amazed how many people are out pitching… yet they really haven’t finished the deck, they really haven’t put the financial projections together. I always coach them, ‘Let’s get the basics together.’ “
(7:43) – Hall T. Martin
“I think the key is to number one, find what your ‘why’ is. Why would we come together? What is our mission? What are we going to do?”
(21:09) – Hall T. Martin
“Investing is not so much about the finance, it’s about building relationships.”
(32:19) – Hall T. Martin
Tapping into Venture Capital with Hall T. Martin of TEN Capital Network
This episode of Startup Junkie had hosts Jeff Amerine, and Caleb Talley joined by Hall T. Martin, CEO, and Founder of Ten Capital Network. Hall Martin launched the firm as Texas entrepreneur networks back in 2009 and today, TEN Capital has over 12,000 investors in its network. It has even helped startups raise over $900 million. Whether you want to hear about improving your pitches to VC funds or how to get the most out of raising capital for your startup, we dive into it all in this episode!
Finding the Why
Hall T. Martin went into the high-tech industry immediately following graduation. He would spend 24 years there watching it become a $1.5 billion-dollar company. Once they went IPO in 1995, he dipped his toe into angel investing. Experiencing the high highs and low lows that come with the gamble of investing, he went to Texas Angel Network and was automatically on the board due to being one of the first members. Then, a couple of months in, the director left, and Hall would step into that role. Hall was able to recruit in about 50 members and invest about $5 million in 20 deals.
With success under his belt and wins on the horizon, his undergraduate alma mater, Baylor University, came to him wanting the angel network out of the alumni association. Tying it to a university is what brought about the tremendous impact he has now had today. Making it about student education, experience, and job placement became more than just about making money, which is precisely what it needed.
“That’s where I really learned that if the “why” is just to make money, you’re going to have a 30% turnover rate every 12 to 18 months.”
(4:17) – Hall T. Martin
Creating TEN Capital Network
While Hall was running those angel groups, he noticed a problem that startups continually ran into. So he retired from his day job and started the Texas Entrepreneurs Network. The aim would be to help entrepreneurs in the entire fundraising process.
Hall noticed that he would see these entrepreneurs come pitch to a room filled with investors, and when they didn’t see any checkbooks go up, they would walk away, and no one would hear from them again. Around 10% would return to continue the pitch and give updates, which was the key to their success.
TEN Capital Network would step in to help startups in the investor relations pieces. This looks like getting documents ready, helping them actually picture the ideas, and setting them up for success by encouraging and coaching in follow-up pitches.
“You have to build a relationship and demonstrate the growth story. And that’s more than just one pitch.”
(5:51) Hall T. Martin
Guiding Principles For Fundraising Entrepreneurs
Here are the four guiding principles Hall takes entrepreneurs through:
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Get your investor documents ready
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Never talk to a customer with customer validation
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Have a growth story
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If you don’t pitch it, it does not exist
Hall made the point that investors can work within two worlds in today’s market. There is the unicorn space where these companies skyrocket into the billions and finance is king, then there is the traditional route that is based more in middle America and focuses on people. Hall found his “why” in investing to be the relationships you build with others alongside supporting and building up communities.
“Investing is not so much about the finance, it’s about the relationships. It’s about building relationships.”
(32:19) – Hall T. Martin
Success after success grew TEN Capital Network from a Texas-focused group to now working and impacting entrepreneurs nationwide. Watching someone come alongside Startup Junkies to empower, encourage and give practical advice is what made us so thankful for the wisdom of Hall T. Martin. You will want to keep up with TEN Capital Network as they continue to support the businesses that help form thriving communities!
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