About This Episode

Click To Tweet: “Everyone has to start with a niche…find one group of customers that you can over service and make them extremely happy.”

Dr. Tim Linnet is the founder of RutaSleep’s Drink Coffee Today & Sleep Deep Tonight, a revolutionary sleep aid found in Rite Aid and Meijer stores nationwide. He graduated with his doctorate from University of the Pacific and went on to Harvard for post-doctoral studies in finance and statistics. He also founded WeDreamCenter.com, which helps small businesses launch their consumer product brands on retail shelves nationwide.

I wanted to interview Tim because of his knowledge in start ups and finding investment. We discuss how he got involved in the pharmaceutical industry, how to set up your early stage startup for success.

Ways You Can Listen To This Episode

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Cheat Sheet:

  • Tim got involved with entrepreneurship when he figured out he could have a bigger impact in the medical industry than he would working in the industry itself
  • Tim recommends starting your business with cofounders to create more camaraderie within the business
  • Steps to founding a successful startup
    1. Make sure you’re passionate about making a difference
      • Can you picture yourself doing anything else besides running a business?
    2. Find your idea (product or service)
      • Make sure you SOLVE the user’s problem
      • Check out Paul Graham’s blog for ideas around validation
      • Don’t worry about building a big business plan, focus on validation and finding friends, family or customers that already want your service or product
    3. Build your team
      • Look for people who are your target market demographic, people that love your product and/or people who offer complimentary skill sets to your own
      • Involve yourself with prominent universities or groups in your industry
    4. Approach investors!
      • Make sure to qualify investors to make sure you’re not wasting your own personal time

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