EP 59 - Steven Hoffman - Innovation: Key to Startup Success

Innovation: Key to Startup Success Startups are important in bringing innovative and fresh ideas to life. On today’s episode, Steve’s special guest is Steven Hoffman also known as Captain Hoff. Steven is an angel investor, partner at Founders.VC, serial entrepreneur and author of the book Make Elephants Fly. Some of the highlights of today’s episode include: The difference between an incubator and an accelerator. Raising outside capital, when it’s a good idea and when it’s not. Key insights you can gain from the book Make Elephants Fly that will help increase your chances for success. So, sit back and listen to this episode as Steve Simonson and Steven Hoffman discuss processes and methodologies for innovation and startup businesses. 01:29 (Steve introduces today’s guest Steven Hoffman, author of the book Make Elephants Fly.) 07:04 (Steven talks about his origin story.) 25:41 (Steven explains the difference between an incubator and an accelerator.) 28:16 (Steven talks about raising outside capital, when it’s a good idea and when it’s not.) 32:44 (Steven talks about his book Make Elephants Fly.) 53:11 (Steven predicts what the future holds for emerging companies working with Silicon Valley.) Welcome to the Awesomers.com podcast. If you love to learn and if you're motivated to expand your mind and heck if you desire to break through those traditional paradigms and find your own version of success, you are in the right place. Awesomers around the world are on a journey to improve their lives and the lives of those around them. We believe in paying it forward and we fundamentally try to live up to the great Zig Ziglar quote where he said, "You can have everything in your life you want if you help enough other people get what they want." It doesn't matter where you came from. It only matters where you're going. My name is Steve Simonson and I hope you will join me on this Awesomer journey. SPONSOR ADVERTISEMENT If you're launching a new product manufactured in China, you will need professional high-resolution Amazon ready photographs. Because Symo Global has a team of professionals in China, you will oftentimes receive your listing photographs before your product even leaves the country. This streamlined process will save you the time, money and energy needed to concentrate on marketing and other creative content strategies before your item is in stock and ready for sale. Visit SymoGlobal.com to learn more. Because a picture should be worth one thousand keywords. You’re listening to the Awesomers podcast. Steve: You're listening to Episode Number 59 of the Awesomers.com podcast and all you have to do is go to Awesomers.com/59 to find any of the show notes and details and even a transcript of this particular episode. 01:29 (Steve introduces today’s guest Steven Hoffman, serial entrepreneur, angel investor and author of the book Make Elephants Fly.) Steve: Now today I'm joined by Steven Hoffman also known to insiders as Captain Hoff and he is a serial entrepreneur, angel investor and partner at Founders.VC which he's also a limited partner in August Capital and an author of the book Make Elephants Fly. Hoffman is also the Captain and CEO of Founders Space, which is one of the world's leading incubators and accelerators with over 50 partners in 22 different countries. Now, he's always been innovating in his life. Captain Hoff has tried more professions than cats have lives including serial entrepreneur, venture capitalist, angel investor, studio head, computer engineer, filmmaker, Hollywood TV exec, published author, coder, game designer, animator and voice actor. That's a lot of stuff to do. While in Hollywood, Hoffman worked as a TV development executive at Fries Entertainment known for producing over 100 TV shows, which was acquired later by MGM. He went on to pioneer interactive television with his venture funded startup Spiderdance, which produce interactive TV shows with NBC, MTV, Turner, Warner Brothers, History