PODCAST #23 - THE STARTUP SERIES WITH OLD TOM VENTURES & DRYVEBOX
In the third of Gather's three-part start-up series with Gather Collective Member Old Tom Ventures, we welcome Adeel Yang, Co-Founder of Dryvebox.
"Dryvebox was founded on the idea that the holistic value golf offers shouldn’t be limited by what you have or where you are. We want everyone to play. Everyone should know the feeling of hitting a ball just right.
“To make that happen, Dryvebox brings a quality, fun, and memorable experience, everywhere we go. And we go far, sometimes really far, to share golf and bring people in. From mountain tops to city streets, we give people their first swings, develop golfers, and let the good times roll.”
(Dryvebox)
What prompted a trained physician like Adeel to start building golf simulator experiences inside trailers?
Learn about the journey so far including how Dryvebox recently took the decision to launch its franchise model; it has rapidly scaled from its first franchise to eleven across America.
Randi Zuckerberg was an early investor in Dryvebox. Dryvebox also has a wide range of collaborations with the likes of Lululemon, Cobra Puma, Michelob Ultra, Topgolf, Malbon, Topgolf, Barstool, LAGC, Lexus, and PGA Hope.
Adeel has other startup experience and understands the investor landscape; the pros and cons of partnership deals. Couple this with the experiences of Evan Roosevelt from Old Tom Ventures and you have a fascinating conversation packed full of helpful insights and advice.
Old Tom Ventures made the decision to invest in Dryvebox. Listen to find out why, and what you should consider if you are seeking investment for your business.
Here are some key highlights to listen out for:
3:00 mins. What did Old Tom Ventures see in Dryvebox and their Founding team that prompted them to consider investing?
7:50 mins. What’s the backstory of Dryvebox and how did Adeel jump from being a doctor over into starting a mobile golf simulator company?
12:00 mins. Many businesses start from a Founder’s need to “scratch their own itch.” How powerful a motivation is this if you are starting a company? Is growing a new company as simple as this?
15:00 mins. The value of co-founders. Is it important to seek other people to help build a new business?
22:40 mins. What has surprised Adeel the most about coming from outside the golf industry and building a business within golf?
26:03 mins. Which market currently demands Dryvebox the most: existing golfers, or people new to golf?
28:11 mins. Is it less desirable for investors to invest in a company run by a single person rather than investing in a team?
31:17 mins. How much of the early-stage decision making at Dryvebox was done through data and insights vs gut instinct?
33:20 mins. Does Adeel feel part of the golf industry? Or does Dryvebox feel like an external business with a product partnering with golf industry businesses?
35:30 mins. Was it critical for Dryvebox to start discussing potential partnerships in the business's early stages?
39:52 mins. “Staying Switzerland.” What is the no.1 learning that Dryvebox took from their first few years in the golf industry?
42:18 mins. “Let other people do what they do best.” What is the no.2 learning that Dryvebox took from their first few years in the golf industry?
43:48 mins. Company Mission and Values – do they matter more to the next generation of customers? And how can they help your own decision making?
51:02 mins. Was the decision to go the franchise route the biggest pivot for Dryvebox so far? What has Dryvebox learned from this?
58:14 mins. How can you help Dryvebox? Want to discuss potential collaborations?
61:35 mins. Rent a Dryvebox for your party!
62:27 mins. Have a business idea? Sometimes all it takes is the first step. Send an email, reach out with a question. The journey might take you to somewhere different than you expected and even better than you had imagined.
Enjoy!
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Jazzaddict's Intro by Cosimo Fogg (201) is licensed under a Creative Commons License.
The Gather Global Podcast aims to deliver genuine insight and offer you new perspectives on the golf industry.