The New 96 Hour: 2018-2019 Pilot Season

Notes from Jenn here

August: Interview and Discussion Featuring Ryan Stone

TOPIC: “Corporate to Start Up: Make the Leap without It Feeling Like a Leap”

“We listened to the customer, and that became the underpinnings of the business.” – Ryan Stone

ABOUT: In 2006, Ryan cofounded Jetpool (later named Davinci Jets), an aircraft maintenance and charter company. When customers wanted reliable, fast internet on their aircraft and there was no suitable product available, he cofounded SmartSky Networks in 2011. Grossing $20M in annual revenue, they sold Davinci Jets in 2018 to a private buyer. SmartSky Networks is now offering 4G LTE/5G to airlines and business aviation, providing seamless connectivity that meets the low-latency demands of applications such as video conferencing and gaming. Ryan currently serves as the President.

ARCHIVED LINK: Listen to the audio of our interview! Scroll down for the show notes and Ryan’s book recommendations.

(Aired live xxAUG19)

Show Notes

Ryan’s transition and first “blessing in disguise” [3:24]

The beginning of Ryan’s first business [4:28]

How the idea for his second business was born [4:49]

The mindset that got through Ryan through unforeseen obstacles [5:47]

What is his vision for Smartsky networks? [6:17]

How he describes his role in the company now [8:00]

What a new entrepreneur should have in place to get started…should you quit your day job? [9:23]

The business model for Jetpool [11:19]

The shockingly small initial investment that got the company started [12:10]

How Jetpool got their first customer…and a BIG one, at that! [13:06]

What criteria enabled Ryan to leave his full time job? [15:00]

Where should a new entrepreneur invest money to grow their business? [16:40]

Ryan’s thoughts on flashy marketing vs. personal attention, and the business card he brought to the meeting with their first customer [18:15]

Ryan’s perspective on “experts” and their role in your decision making [20:32]

Advice to corporate employees on how to manage expert advisors [24:51]

How he decided to seek outside capital/investors for Smartsky Networks [26:46]

Why were early investors willing to provide capital? [30:48]

What helps to mitigate the fear of starting a business? [35:09]

What causes stress and fear now? [38:30]

Ryan shares the scariest moment in business he’s had [40:02]

You don’t have to have a brilliant idea to start a business…so what do you need? [47:45]

How we can help Ryan (and each other!) [50:15]

Ryan’s book recommendations [53:38] (See links below)

How to stay in touch [55:20]

Book Recommendations:

Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist, by Brad Feld

Factfulness: 10 Reasons We’re Wrong about the World—and Why Things are Better Than You Think, by Hans Rosling

Traction: Get a Grip on Your Business, by Gino Wickman

Private Capital Markets by Robert Slee (and also his Midas series and his Time is $ book) – PCM isn’t a bedtime read, the others he wrote can be though

25th Reunion

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BEAT ARMY!!!