LuxuryProperty Founder Jason Hayes has worked at the cusp of real estate and digital marketing for 35 years and built three successful ventures. All of them are bootstrapped, organically grown, and capital efficient businesses. Here is our discussion from 2023. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from?
By guest authors Irina Patterson and Candice Arnold Heather: It’s interesting, while I was up in Portland, I did meet with a couple of entrepreneurs who are interested in the venture side. So, since I was there, I just had the meeting. That happens a lot. You know, the venture guys will find something that
By guest authors Irina Patterson and Candice Arnold Heather: Sometimes, [I would say to entrepreneurs] “I’m interested. Here’s what I’d be willing to bite off, but here’s what I think I need to see you put in place first.” And then, probably, ten – believe it or not – never call me back, which is
By guest authors Irina Patterson and Candice Arnold Heather: When we hold on to an investment – and this is something that the venture capital industry is really getting its head around today – for a very long time, we really need that multiple to be very high at the exit in order to make
By guest authors Irina Patterson and Candice Arnold Heather: For the market size, there’s no real minimum because minimums are going to depend on whether the success of the business is based on traction and customer leads and hits or whether the success of the business is based on profitability. That affects what your minimum
By guest authors Irina Patterson and Candice Arnold Irina: Do you charge entrepreneurs a fee for mentoring them? Heather: No. We don’t charge for entrepreneurs to be mentored. We do struggle. Just like everyone, we have limited bandwidth, so we highly encourage people to get involved with multiple mentors, even if you only get 30
By guest authors Irina Patterson and Candice Arnold Heather: I probably look at all three of those three C’s, character, credit, and collateral, but from a slightly different angle in that I am most concerned with making sure that that management team is the right team to bring that business to success, and that I can
By guest authors Irina Patterson and Candice Arnold Irina: What kind of companies do you prefer? Heather: We are industry agnostic. What that means is that we don’t really focus on a specific sector or a specific type of company. If you looked at our portfolio, you would see that we had a concentration of