Unlocking the Secrets to Entrepreneurial Success Through Tech Innovation

Summary:  Sam Obletz, co-founder of Claim, shares his journey as an entrepreneur and the inspiration behind his tech business. He recounts his early experiences in entrepreneurship, from building custom computers as a kid to starting a freelance web design business. Sam's interest in technology and passion for learning new technologies led him to pursue a career in finance and impact investing. Eventually, he teamed up with his co-founder, Tapp Stevenson, to start Claim, a company focused on helping people navigate the complex world of insurance claims. Sam emphasizes the importance of finding a business partner with complementary skills and experiences. He also discusses the challenges and opportunities of raising capital and the role of narratives in explaining data and business plans. Claim is a brand discovery app for Gen Z college students that helps them save money while finding new brands and having social experiences with their friends. The app operates through a weekly drop, similar to a Nike sneaker drop, where users unwrap a brand of the week and receive cash back offers for making their first purchase. Claim aims to reinvent marketing and advertising by passing advertising budgets directly to consumers through low prices, creating a more authentic and cost-effective experience for both consumers and brands. The app is currently available at around 50 colleges and universities and is expanding regularly.

Keywords:  entrepreneurship, tech business, custom computers, web design, impact investing, partnership, raising capital, narratives, data, brand discovery, Gen Z, college students, savings, social experiences, cash back offers, marketing, advertising, authenticity, cost-effective, expansion

Takeaways

• Early experiences in entrepreneurship can shape a person's passion for technology and learning new technologies.
• Finding a business partner with complementary skills and experiences can greatly benefit an entrepreneur.
• Raising capital requires storytelling and understanding the timing and market interest.
• Putting data into a narrative format can help others understand the thought process and decision-making behind a business.
• Formalizing business agreements and infrastructure is crucial for long-term success and dispute resolution. Claim is a brand discovery app that helps college students save money while finding new brands and having social experiences with their friends.
• The app operates through a weekly drop, where users unwrap a brand of the week and receive cash back offers for making their first purchase.
• Claim aims to reinvent marketing and advertising by passing advertising budgets directly to consumers through low prices, creating a more authentic and cost-effective experience.
• The app is currently available at around 50 colleges and universities and is expanding regularly.

Titles

• Navigating the Challenges of Raising Capital
• The Power of Complementary Partnerships in Entrepreneurship Discover New Brands and Save Money with Claim
• Reinventing Marketing and Advertising with Claim

Sound Bites

• "I'm very happy to be here. Thanks for having me, Mitch."
• "If you find a business partner that their skills and experiences are complimentary, I would almost argue that there should be some overlap so that you can both jam on whatever the problems of the day are."
• "If your product doesn't really require AI or it doesn't really meaningfully add to the user experience or the customer value, then you don't just slap the label on for fundraising because one, it's a distraction and two, people are going to see right through it."
• "Claim's mission is to create easy and affordable memories."
• "We nudge people to discover the world together without the brainwashing of social platforms."
• "It's gratifying to me to give people those social experiences while solving a very real business need for marketers out there."

Chapters

00:00 Introduction and Welcome

03:12 Early Entrepreneurship Experiences

08:01 Finding a Complementary Business Partner

12:00 Challenges and Opportunities of Raising Capital

24:55 The Journey to Claim: From Childhood Memories to Entrepreneurship

27:04 Introduction to Claim and its Mission

37:25 How Claim Works: Brand Discovery and Cash Back Offers

46:06 Challenges and Lessons Learned in Running Claim

54:03 Expanding Claim's Reach to More Universities