(If you're having trouble viewing the videos, this is also available on my blog Cooler by the Lake)
Belly Founder Logan LaHive shared the origins of his ideas and entrepreneurial history at our September Chicago Founders’ Stories @1871. We had another sold out crowd join us for pizza, beer and Logan’s tips on how he survived the early struggles every founder faces with a tech start-up business.
If you missed our other Founders’ Stories you can check them out online: Braintree Founder Bryan Johnson, Open Table Founder Chuck Templeton or Grub Hub Founders Matt Maloney and Mike Evans.
Today, Belly is a successful digital platform that creates custom loyalty programs for a variety of small and medium size businesses in 35 states across the US. Known for it’s unique rewards, Belly helps businesses create and manage smarter loyalty programs; with rewards ranging from getting a free beer at your favorite local pub, to punching the owner of a comic book shop in the stomach, the possibilities are endless. After starting out at Lightbank with a $1 million investment, Belly has received an additional $10 million from legendary VC firm, Andreesen Horowitz and continues to grow and enter new markets.
My INCISENT teammates and I have really enjoyed partnering and sponsoring the past four Chicago Founders’ Stories @ 1871. Since the September event sold out, we recorded it and are putting it online for those who couldn't make it. We broke up the hour into five segments for easier viewing:
Part one: Segment one explains how Belly is redefining consumer loyalty programs—and why small businesses should care. The segment also shows, Logan’s first pitch of Belly to a small business and first meeting with Brad Keywell and Eric Lefkofsky.
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Part two: The second segment discusses why skipping the boardroom and going straight to the sales pitch made all the difference for Belly. Logan emphatically explains why it was so important for Belly to sell their product before they built it. Specifically, Logan explains how he would spend all day pitching companies a power point presentation, then sitting on a curb and making changes as he went.
[video:http://youtu.be/CdKdNn0EnyU align:center]
Part three: Explains the city of Chicago, advantages & disadvantages of starting in the city. In addition, Pat and Logan talk about “Black Swan Farming”—why good startups look bad on paper and why investors/mentors/advisors don’t know everything.
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Part four: In this segment, we discuss why V.C. firms still want Chicago’s entrepreneurs. Also, this segment includes a background of Logan’s experience meeting with Andreesen Horowitz and how his relationship with Jeff Jordan has helped push Belly to where it is now.
[video:http://youtu.be/GURE8fVPbkc align:center]
Part five: Q&A with Belly founder Logan LaHive. Find out where the name came from, about the quirky rewards vendors offer, how Belly selects new markets, and more.
[video:http://youtu.be/6Pu7D_h_SdQ align:center]
We hope you enjoyed this interview with Logan LaHive, and look forward to our next upcoming Chicago Founders’ Stories @1871.
Please click here for more information about INCISENT Labs and joining our team.
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