In the latest episode of The Shades of Entrepreneurship™, I connected with Samantha Pantazopoulos, the CEO and co-founder of Vizer.
Vizer helps make any form of media shoppable & trackable, leveraging mobile offers and real-time data to maximize efficiency and drive in-store sales.
Our conversation was quite the treasure trove of practical advice and stories to inspire up-and-coming entrepreneurs.
Here are some key business lessons from the episode that can guide you on your entrepreneurial journey: Key Business Lessons from Samantha Pantazopoulos: Building a Startup from the Ground Up
Embrace Risk Early On
Samantha’s decision to dive into her startup right after graduation highlights a crucial lesson: the earlier you take risks, the more freedom you have to explore and innovate. She mentions that her 20s were the perfect time to experiment without the constraints of family obligations or a mortgage.
This period of life is ideal for taking bold steps and pursuing your entrepreneurial dreams, with the understanding that if things don’t work out, there’s always the option to pivot.
As a father of 2 toddlers running a podcast, a nonprofit and a full-time job, I sometimes sit in my basement as I rummage through emails thinking about how I wished I had started my entrepreneurial journey much earlier because my time with my girls will comes second to none.
The Power of Networking
Samantha’s experience underscores the importance of networking in building a successful business. She and her co-founder, Dylan, made a concerted effort to connect with as many people as possible, which created a valuable network of contacts.
They engaged in hundreds of meetings, seeking feedback and advice, which ultimately shaped their journey. This proactive approach to networking is crucial for entrepreneurs, providing access to resources, mentorship, and potential partnerships.
An opportunity for local Oregon entrepreneurs to network is coming up on Tuesday, October 8, 2024 with Latino Founders Accelerator Showcase Open House.
Latino Founders is a 501(c)(3) non-profit organization dedicated to fostering the growth and success of underserved businesses. Our mission is to provide support, resources, and opportunities to empower underrepresented entrepreneurs and contribute to the overall economic development of our region.
After nearly ten years ago, we recognized the need for a dedicated space where Latino entrepreneurs could come together to share their experiences in launching and scaling businesses. RSVP today!
Choosing the Right Programs
Not all accelerators and incubators are created equal. Samantha emphasizes the importance of selecting programs that align with your vision and offer a good return on investment.
Her involvement in a women-focused accelerator and a competition with a significant cash prize played a pivotal role in Vizer’s success. Carefully evaluate the programs you join to ensure they match your business needs and goals.
Some accelerators might be business agnostic which means we have multiple business sectors, not just one business sector, being supported, or specific to an industry, i.e., clean-tech, consumer package goods, AI.
According to Harvard Business Review, What Sets Successful Startup Accelerators Apart, it states, "participating in an accelerator raised 50% to 170% more from investors and were more likely to be alive or acquired than similar startups that applied to the accelerators but were not accepted", amplifying the importance of a business accelerator in communities.
Building a Strong Team
One of the most rewarding aspects of Samantha’s entrepreneurial journey has been building a cohesive and dedicated team. She points out that while the product is important, the team behind it is even more critical.
Creating a positive organizational culture and nurturing team health are essential for long-term success. Investing in your people and maintaining strong communication and values within your team can drive your business forward.
Having the right people on the bus is extremely important! I always tell people there are 3 types of employees, and each one helps create a culture:
Engaged: this employee has enthusiasm about their role and cares about their work
R.I.P.: an R.I.P. employee means retired in place - this is an unengaged employee, someone who is looking to do the bare minimum
C.A.V.E.: a C.A.V.E. employee is Constantly Against Virtually Everything - they don't like the drive to work, their co-workers, the company, the parking, the food.
Personally, I do not mind an R.I.P. employee because I know I can get them engaged; however, a C.A.V.E. employee will erode a culture.
Resilience in the Face of Challenges
Entrepreneurship is often compared to professional sports or acting in terms of its demands and the need for resilience. Samantha’s reflections on the continuous challenges and setbacks she has faced highlight the importance of developing a strong mindset. Building resilience allows you to navigate the ups and downs of entrepreneurship, ultimately preparing you to handle larger opportunities and challenges as your business grows.
These lessons from Samantha Pantazopoulos provide a valuable framework for anyone embarking on an entrepreneurial journey. From taking calculated risks to building a robust network and team, her insights offer practical guidance for navigating the startup world.
To hear more about Samantha’s journey and go deeper into her experiences by listening to the full episode of The Shades of Entrepreneurship.
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