From Financial Trader to Pioneering Car Subscription Entrepreneur w/ Toby Kernon S3 E9 P1

Welcome to Founders Unplugged! I'm your host, Greg McCallum. In Part One of my conversation with Toby Kernon, the CEO and founder of Wagonex, we discuss his entrepreneurial journey in the car subscription industry. Toby shares the challenges he faced in transitioning from trading to startups, the importance of building strong partnerships, and the realities of running a startup. We delve into the complexities of customer acquisition, integrating insurance into a platform, and the significance of resilience and relationships in achieving success. Toby also sheds light on the dangers of following generic startup advice and emphasizes the need for a supportive network. Join us as we explore the future of Wagonex and the strategies that have propelled Toby's success. Takeaways: Events like demo days are invaluable for founders to share their journey and learn from others. Entrepreneurship requires constant pitching and can be both exhausting and lonely. Starting a car subscription platform involves securing key partnerships with manufacturers and insurance companies. Early customer acquisition combines direct outreach with strategic marketing efforts. Integrating insurance pricing into a platform is complex and requires collaboration with insurers. Running a startup demands resilience to handle rejection and weather storms. The startup journey often involves waiting periods, not just rapid movement. Comfort levels in running a startup can be influenced by funding and corporate governance. Building relationships and face-to-face meetings can lead to unexpected opportunities. Be cautious with generic startup advice; it's not a one-size-fits-all solution. Consider profitability and potential exit strategies from the early stages. Partnerships can accelerate growth and help achieve long-term goals. Episode Highlights: The Inspiration Behind Wagonex The Value of Demo Days for Founders The Danger of Generic Startup Advice The Power of Partnerships in Accelerating Growth Chapters: 00:00 Introduction and Meeting at Demo Day 03:01 Toby's Journey from Trading to Startups 09:01 The Inspiration Behind Wagonex 15:13 Early Days and Customer Acquisition 19:00 Securing Partnerships and Competition 22:03 Vehicle Delivery and Insurance Integration 26:07 The Importance of Resilience 28:00 Moving Fast and Breaking Things 30:37 The Role of Luck and Support Network 36:09 Navigating Corporate Governance 39:14 The Danger of Generic Startup Advice 49:00 The Path to Profitability and Exit Strategies 51:05 The Power of Partnerships Follow Toby here: https://www.linkedin.com/in/toby-kernon-b611a853/ Check out Wagonex here: https://www.wagonex.com/car-subscription-software Want a 1 hour free advisory session with our host Greg McCallum? Use the link on his LinkedIn profile.👇👇👇👇👇👇👇 https://www.linkedin.com/in/gregmacuk/