← The Veteran Entrepreneur Masterclass Podcast
Mar 16, 2023 · 1h 10m
An entrepreneur's journey can be challenging, but it can also be incredibly rewarding for those with the vision, drive, and determination to succeed. However, bringing an entrepreneur's idea to life often requires more than just hard work and dedication – it also requires access to capital. How can entrepreneurs find financial support to help them realize their ideas? In this episode, Brett talks with Alex Chompff, Executive Director and Co-Founder of Evolution Accelerator and Managing Partner of Evolution Ventures, a venture syndicate arm that provides capital directly to entrepreneurs at a larger scale. Aiming to help entrepreneurs turn their ideas into reality, Alex talks about how he serves veteran-owned businesses, how he got started in the financial technology industry, and the factors determining whether to bring on a strategic or capital partner. Alex Chompff has experience and knowledge that only comes from a lifetime of once-in-a-lifetime opportunities. After serving in the United State Marine Corps, he became the Director of Technology at the world's largest venture capital firm during the legendary dotcom era. Companies Alex subsequently co-founded operate at the front edge of innovation, creation, and value growth. These include NatureTrak, the Minters Collective, Evolution Accelerator, and The DAO Treasury Corporation. Today, Alex is a member of the Sacramento Angels and serves as an advisor to dozens of startup and growth companies. In This Episode 01:53 - Backstory of Alex Chompff 06:27 - What inspired Alex to serve veterans 09:55 - Why Alex chose to work with other veteran-owned businesses 15:40 - The risks involved in bringing ideas to life 18:31 - How Alex helps entrepreneurs bring their ideas to life 21:52 - How Alex got started in the financial technology industry 29:41 - What led Alex to help people in the cannabis industry 32:40 - Factors that determine whether or not to bring on a strategic or capital partner 39:05 - A typical timeline for Alex to begin talking to entrepreneurs about the potential growth of their businesses. 42:13 - How people learn about Alex's work 45:46 - The factors Alex considers when deciding whether to invest in an idea Favorite Quotes 07:48 - "Running a business with someone is like being married. It helps to have a common set of values and a common understanding of what constitutes good work and moral action. And it's important to be aligned with the people around you." - Alex Chompff 16:36 - "When you bring your idea to life, you communicate it to everybody around you. Your biggest problem will not be that somebody understands and steals your idea. It's going to be that people only half understand your idea and implement it incorrectly or in ways you didn't have in mind." - Alex Chompff 33:36 - "As far as whether to take on an outside investor or a capital partner, the most important thing to know is yourself. Understand what your goals are for yourself and for the business that you're creating." - Alex Chompff 35:11 - "Taking on capital is a lot like being married. You have to understand that if you accept someone's money to further your commercial interests, you're creating a rest of your life bond with that person." - Alex Chompff 46:15 - "Your time is always worth more than your money." - Alex Chompff 59:13 - "Experience teaches us that it takes more than one person to make a company, and there is no one person who has everything that it takes." - Alex Chompff 1:01:58 - "Use your investor's resources to be healthy because, ultimately, that's an important part of being an effective leader. An important part of building a sustainable enterprise is to be in a place of emotional, financial, physical, spiritual, and mental health." - Alex Chompff Connect with Alex Chopff LinkedIn Evolution Accelerator Website Connect with Brett Henderson: 310-491-7975 Swe90.com LinkedIn: Brett Henderson Strategic Wealth Endeavor Listen to The Veteran Entrepreneur Masterclass Podcast Apple Podcast Spotify