Michael LaVitola is the CEO and Founder of Foxtrot, a startup that could be thought of as a curated cornerstore with on-demand delivery. It is basically what you imagine your ideal convenience store would look like with an in store cafe and a ton of super cool beer, wine, food, gifts, and basic necessities.
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In This Episode You Will Learn:
- Why Michael decided to start Foxtrot
- What the first version of the product looked like
- Why they moved away from on demand to retail
- Why they splurged on pricey retail spots
- Why they will be having a coffee bar in all their stores going forward
- How they curate the products they stock
- What are their best selling and weirdest products
- What Michael thinks of Amazon's acquisition of Whole Foods
- What the future of retail looks like
- How they plan to differentiate themselves from Amazon's offerings
- Why it is important to know who your ideal investor really is
Selected Links From The Episode:
- New Venture Challenge
- Craig Wortmann, Professor at Northwestern Kellogg
- Eater
Favorite Books:
- Shoe Dog: A Memoir by the Creator of Nike by Phil Knight
- Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer
- Steve Jobs by Walter Isaacson
This post originally appeared on Tech In Chicago. Visit Tech In Chicago to listen to more interviews with Chicago’s top startup founders and venture capitalists.
