VC Minute Weekly Recap: How Curt Built an Investable Business But Didn't Take Venture Capital.
Bootstrapping an outdoor accessories brand. Why revenue-based investment made sense. Leveling up to earn recognition as an up-and-coming brand.
When Curt Nichols was 24 he founded a ski goggle company, Glade Optics. He was working full time, bootstrapping the business on credit cards. After some research he realized that he did not want to raise venture capital—and that Glade wasn’t a fit for it anyway.
As he was building and growing, he met the team at Greater Colorado Venture Fund (Jamie Finney writes at
) and they worked out a revenue based investment to help propel Glade to the next level.Having different perspectives is important, and I’m glad that Curt talked so candidly about his views on ownership, control, and exits. Here are my three takeaways:
How do you get investment? Build an investable business.
Leveling up brand recognition. Start with small publications, small awards then leverage those to get to the next level.
Ownership & exits. Raising venture capital means giving up more of the business, which means you need a larger exit to have a meaningful outcome personally.
I truly enjoyed Curt’s perspective and hope his “don’t take VC” view is helpful.
Episode Summaries
Meet Curt, Bootstrapping on Credit Cards
This week's guest, Curt Nichols of Glade Optics, shares his remarkable journey of bootstrapping his business with credit card debt and transforming it into a high-seven-figure success in the ski goggles category.Exits, Ownership, Alignment with Investors and Revenue-Based Finance Discover how Curt's journey led him to a unique revenue-based investment model, capably combining non-dilutive funding with experienced partners, propelling the success of his business in the ski goggles industry.
Retaining Ownership: Revenue-Based vs. Venture Funding and Real-World Implications of Bootstrapping
Explore the path of non-dilutive financing and the real-world challenges of bootstrapping for ultimate ownership and success in your business.
Benefits of RBI vs. Fee-Based Lenders, Deal Terms, and Aligning Founder+Investor Interests
Delve into the benefits of choosing Revenue-Based Investment (RBI) over fee-based lenders and the unique deal terms that align founder and investor interests, providing a win-win scenario and growth acceleration for Glade Optics.Working Up From the Bottom, Get Investors By Building an Investable Business
For this last episode, Curt unveils his strategic journey of working his way up in the ski industry, gaining the recognition of angel investors by meticulously building an investable business. Discover how his approach, from the ground up, led to strategic angel investments and a flourishing outdoor brand.