Start It or Scrap It
Start It or Scrap It is the ultimate brainstorming session you didn’t know you needed! Join Mike Terkanian, a seasoned business attorney with a knack for spotting potential pitfalls, and Mr. Gummi, a dynamic marketing expert with a flair for turning dreams into reality, as they dive into the wild world of Reddit. Each week, they uncover unique ideas, dissect ambitious plans, and give honest, actionable advice. Whether you're looking to fine-tune your business pitch, pivot a passion project, or find the courage to scrap what’s not working, this duo has you covered.
Laugh, learn, and get inspired—because every great idea deserves a moment in the spotlight (or a reality check).
Ready to Start It or Scrap It? Tune in now!
Start It or Scrap It
How This One Networking Insight Changed Everything for Us | Ep. 26 | Start It or Scrap It Podcast
Welcome back to Start It or Scrap It, the podcast where business ideas meet expert critique.
In this episode, we break from the usual format—because one of the ideas we found wasn’t just interesting... it was good. Good enough for us to say: let’s consider buying it.
Here’s what you’ll learn in Episode 26:
* The decision-making process behind investing in a small business
* Common traits of business ideas worth funding
* The reality behind "first-mover advantage" in AI
* Why company culture is more important than technical talent
* The hidden cost of bad hires and bad clients
* Tactical sales psychology that closes more deals
⏱ Timestamps:
00:00 – Intro
07:00 – What makes a business actually investable
11:20 – AI startup bubble: will it pop?
15:45 – Building vs. buying: what we look for
18:40 – Bad hires and toxic culture
24:00 – Sales mindset: ask better questions
30:30 – Our business buying philosophy
36:00 – Deep dive: What we loved/what gave us pause
42:15 – Culture fit: aligning values with performance
48:40 – How we stress-test a pitch before buying
55:05 – Negotiation tactics: structuring a deal
01:02:20 – Lessons from failure
01:10:55 – Why we passed on a seemingly great AI idea
01:18:30 – Your toughest purchases
01:34:43 – Final takeaways
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