4. Lance Li - Finding Success As A Founder

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Key Takeaways

Fundraising As A Founder

  • Cash is king.
  • Aerospec won a bunch of pitch competitions which was a great source of equity-free capital. Allowed them to not be constrained by investor influence.
  • Put off fundraising as long as you can as a founder!

Turning Employees Into Business Owners

  • Providing employees ownership is one of the best ways to get them bought into and motivated to drive business results.
  • All of Aerospec's employees have ownership.
  • Lance also provides full visibility into the company's financials, sales, etc. This allows each employee to make decisions with full context on the business.

Show Notes

My guest today is Lance Li - CEO and Co-Founder of Aerospec technologies. Lance is an amazing founder and operator and in our conversation you will get an intimate look into the highs and lows of entrepreneurship. Lance shares his thoughts on fundraising’s role in entrepreneurship and why and how you can turn employees into business owners and decision makers. My entrepreneurial minded listener’s are going to like this one. Enjoy!

Lance’s LinkedIn



Show Highlights

(1:48) - Having entrepreneurial parents

(3:56) - Fundraising’s role in entrepreneurship

(8:40) - Pros and cons of winning pitch competitions

(9:30) - The evolution of Lance’s role as a founder

(10:46) - Leadership styles 

(12:10) - Equity ownership’s role in motivation

(13:45) - Fostering culture as a founder 


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Episode Transcript