Want Money Got Money with Sam Kamani

18: Learn from CleanTech Entrepreneur - Nate Peo

September 15, 2020 Sam Kamani, Nate Peo
Want Money Got Money with Sam Kamani
18: Learn from CleanTech Entrepreneur - Nate Peo
Chapters
Want Money Got Money with Sam Kamani
18: Learn from CleanTech Entrepreneur - Nate Peo
Sep 15, 2020
Sam Kamani, Nate Peo

In this episode of Want Money Got Money Podcast, I interview Nate Peo a Clean tech entrepreneur and property investor. 

His speciality is in advising founders of Clean Tech companies on how they can take their startups to the next level.

  • We also discuss how to get your Clean tech idea funded, 
  • What do successful founders do, 
  • What sets apart good founders from mediocre founders? 
  • How to do sales well?
  • And much more...

Book recommendation:-

Rich Dad Poor Dad:- https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194 

School of Greatness:- https://www.amazon.com/School-Greatness-Real-World-Living-Leaving/dp/1623369029/ref=sr_1_1?dchild=1&keywords=the+school+of+greatness&qid=1599872828&s=books&sr=1-1 

Podcast recommendation:- 

All in podcast with Nate Peo - https://natepeo.com/blogs/the-all-in-podcast-with-nate-peo 

Roy - Innovators Podcast 

Connect with Nate:- https://natepeo.com/ 

If you enjoyed this episode then please subscribe, I will be interviewing other successful founders and investors to provide you a shortcut to success.

Follow instagram:- https://www.instagram.com/wantmoneygotmoney/

Show Notes Transcript

In this episode of Want Money Got Money Podcast, I interview Nate Peo a Clean tech entrepreneur and property investor. 

His speciality is in advising founders of Clean Tech companies on how they can take their startups to the next level.

  • We also discuss how to get your Clean tech idea funded, 
  • What do successful founders do, 
  • What sets apart good founders from mediocre founders? 
  • How to do sales well?
  • And much more...

Book recommendation:-

Rich Dad Poor Dad:- https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194 

School of Greatness:- https://www.amazon.com/School-Greatness-Real-World-Living-Leaving/dp/1623369029/ref=sr_1_1?dchild=1&keywords=the+school+of+greatness&qid=1599872828&s=books&sr=1-1 

Podcast recommendation:- 

All in podcast with Nate Peo - https://natepeo.com/blogs/the-all-in-podcast-with-nate-peo 

Roy - Innovators Podcast 

Connect with Nate:- https://natepeo.com/ 

If you enjoyed this episode then please subscribe, I will be interviewing other successful founders and investors to provide you a shortcut to success.

Follow instagram:- https://www.instagram.com/wantmoneygotmoney/

Nate Peo: [00:00:00] I think what I've found is a lot of people come and they say, if I have the money, I can go do something right. If I have the money, I can go buy a real estate deal off.

[00:00:09] I have the money. I can go build a business. If I can go build a warehouse, I can create this product and market it too. But. Everybody gets that part wrong. The real, the thing is if you can get customers, if you can get a product, that's got a proven business model, you will have no problem finding the money.

[00:00:29]Sam Kamani: [00:00:29] Hello, dreamers and action. Degas Valcom to another episode of want money got money. I'm your host, Sam Kamani.

[00:00:39]My today's guest is Nate bell. Nate is a clean tech entrepreneur and investor.  In this episode, he shares his advice on how to take a clean tech startup to the next level. He also gives some practical advice on how you can straight away. Improve your sales selling ability and grow your business

[00:01:03] Sam Kamani: [00:01:03] before we get into it.  I have another announcement. I have just started an Instagram where I would be putting all these notes and putting more info on all the guests and how you can connect with the guests on my podcast and how you can connect with me. So just go to Instagram and search one money, got money . And you would find it,  having said all that without any further ado, let's get into it.  

[00:01:29] so welcome to the show, Nate, it's great to have you here. And it was lot of fun talking with you last time on your podcast. so first of all, how are you today? 

[00:01:40] Nate Peo: [00:01:40] I'm doing great. Thanks for having me on. It's good to catch up with you after a few weeks. Yes. 

[00:01:45] Sam Kamani: [00:01:45] And for some of our audience who don't know you that well, what are you up to these days?

[00:01:52]Nate Peo: [00:01:52] I'm up to a lot of things. I've been in real estate development for a lot of years and, I started expanding my network and as I was expanding my network, I had some interest to get into the startup space and I got, My foot in the door, a few years back hanging out.

[00:02:08] And some incubators got plugged in with the specifically the clean tech and eco system out here in California, and just started helping out and advising where I could. And, it's been a pretty exciting journey. And so I've been doing a bit of that as well as a real estate development. 

[00:02:26] Sam Kamani: [00:02:26] Yeah. I'll 

[00:02:27] Nate Peo: [00:02:27] also have a podcast too, that we should probably mentioned that they started up this year.

[00:02:33] Yes. 

[00:02:34]Sam Kamani: [00:02:34] what's that podcast called? I'll put the links underneath and the description and 

[00:02:39] Nate Peo: [00:02:39] the all-in podcast with Nate PEO and it's a little bit of a. The genre is about networking, about building relationships, about building trust with other people and sharing your resources of knowledge with the people you've met and connected with other people around the world.

[00:02:55] Sam Kamani: [00:02:55] Excellent. And that's how we got connected in the first place. So it is a fantastic podcast. I would. I'm highly recommend anyone listening to check that podcast out. so I wanted to find out, Nate, how you got started in your entrepreneurship journey. Did you always, when you were young, always knew that is something you want to do, become an entrepreneur and.

[00:03:19] Do things your own way 

[00:03:20]

[00:03:20] or did you have a different box? 

[00:03:22]Nate Peo: [00:03:22] no, I definitely had a different path entrepreneurship. Wasn't something I started off wanting to do. I didn't even really know it or understand it for that matter. I'm in high school, I really liked drafting classes and I liked architecture and I thought that I was going to be an architect.

[00:03:40]I got applied to college and architectural school and was. I was stoked. I thought that was my journey. And very quickly being a part of architecture school, I realized that you have to be an artist to be an architecture. And I wasn't very artistic enough and, decided that it really wasn't for me.

[00:03:59] I liked the drafting part of it, but I wasn't really. Cut out to be an architect and I gravitated towards construction management. So that was where I went. And then after I graduated college, I went and worked for a civil engineering company. And then I worked in the real estate development world for a home builder.

[00:04:17] And it wasn't until I started reading a lot of self development books. I started getting an idea for entrepreneurship and probably the one that stands out the most. Was a book called rich dad, poor dad by Robert Kiyosaki. And it talked about, Hey, if you want to get significant wealth, you've got to have, entrepreneurship or real estate investments.

[00:04:37] You can't just, work for a paycheck. And I think that started a quest for self-development and figuring out how I could build a business and look for opportunities to do something outside of working a job. And. through the course of reading that book into our map today, I had tried various entrepreneurial journeys and various business ideas with varying degrees of success.

[00:05:03] And all of them had an ultimately wound up not being. Successful enough to continue. And, every time I just looked at Hey, push that away. don't, try to do any businesses. Don't try to start anything up again, but it should come back and you'd want it to be scratched.

[00:05:18] And so I was like, how do you do this? How do you scratch that itch? And what I realized was is, I could go into. Advising startups. I didn't have to have a devote my full time energy to something, but I could also provide a lot of knowledge and skills that I've learned along the way and help others grow their business and startups, and hopefully take them to the successful exits.

[00:05:40]Sam Kamani: [00:05:40] that's great. I would love to know a bit more about your experience with working with, did you say, is it clean tech? 

[00:05:49] Nate Peo: [00:05:49] Yeah, clean text. that's typically I would classify if you're not familiar with clean tech, is people and clean technology around like electrical vehicle charging solar. Basically renewable energy sources, renewable resources, that type of stuff.

[00:06:07] Sam Kamani: [00:06:07] That's excellent. I've got solar panels up on one roof and I'll get an E V as well as a traditional, Internal combustion car. So I it's, I'm, I love all the sort of alternative energies and the technologies and stuff. how do you help those startups are or what advice, first of all, you have for the founders of those startups.

[00:06:31] Nate Peo: [00:06:31] So typically these types of businesses are not businesses that you can grow to scale. In your garage, right? They're not like going out and starting an app or a Facebook or Instagram. They're going to take a lot of capital and a lot of resources to innovate and distribute the product at scale. yeah.

[00:06:54]but a lot of people. Aren't ready to invest the time and energy in developing the ideas. so there's entrepreneurs with the ideas of changing the world around sustainable energy and clean technology. And so they're creating an idea, but once they've developed a prototype, it's not like they can just Build a prototype and sell like 500 of these. They need to sell like 500,000 of them. So the way it works is, the big companies have the resources to develop the infrastructure for getting the products out and distribute them and selling them into the clients. But they're not really necessarily going to be innovative.

[00:07:38] To develop a product from a startup idea until it's proven in the marketplace. So that's where like the entrepreneurs come in, they create the idea, they prove it. That is a sustainable business. And then they're going to look for a capital too. To execute. And a lot of times these, the way the arrangement makes the most sense is you have a product that fits in somebody else's business model.

[00:08:05] So it's warmer acquiring than like an IPO or like an acquisition or some sort, or are raising a ton of capital. So they're looking to get acquired by somebody that can take their product. And their idea and then mass produce it and then plug it into their distribution channels. And so that's where I have a lot of connections is a lot of the clean tech products have crossover to construction building materials, and that's where I've been in.

[00:08:32] And so I have a lot of resources within my network of people that work for building materials, supply companies. And so I try to, if I work with a clean tech person, I say, Hey, this is how your product is. But this is how it would be implemented in real life. this is how it would get sold to the end user.

[00:08:50] This is actually who the end user would be. Not who you think it is, or this is how, your sales distribution is going to happen. Or this is neat, but, nobody's going to care about this product. It needs to be pitched this way. And that's where I help out is getting them a better way of telling their story and putting their story in front of the right.

[00:09:13] Great people. Yep. 

[00:09:15]Sam Kamani: [00:09:15] excellent advice for anyone in clean tech. So you do see it as more of a B2B play and a very longterm play when it comes to, Sort of physical green tech startups. 

[00:09:31] Nate Peo: [00:09:31] Yeah. It's not like something you can create today and a year and a half later, scale it to a million users and sell it.

[00:09:40] But these are things that are going to take years to develop, and then they're going to evolve and continue to grow, but they're going to be. Very important. there's already a lot of laws changing. people are very concerned about the environment. And so there's going to be, investment from companies and investment from governments into these programs to get products from.

[00:10:03] Conceptual ideas to real products, to real implementations. And then as the technology improves, it becomes more cost effective to do things like solar is very inexpensive now compared to where it was 20 years ago. And now people are taking things in and adding AI in the internet of things on top of it.

[00:10:23]and making it really efficient. So one of the companies I work with, they have an Evie car charger. And so let's say you probably get a car in the park, you pull your car into the garage, you park it and then you plug it in. And I don't know, in New Zealand, what the rates are, but the rates in California prime rates now they moved them from five to 9:00 PM.

[00:10:42]Cause there's so much solar on the grid that. The peak hours are now five to nine where they're pulling up. Sure. So claim to 

[00:10:50] Sam Kamani: [00:10:50] same here. 

[00:10:53] Nate Peo: [00:10:53] Yeah. So do you come home from work? You plug your car and you're plugging and you're charging your car at the most expensive time to charge it. And the least expensive time is probably in the middle of the night.

[00:11:02] And so what are you going to do? Remember to wake up, go downstairs, plug in your car and then go back to bed. Like you're not going to do that. So this one uses AI to read your rates and the best times, and you can optimally charge your car at the vest. that's time for the best rate so that you're paying the least amount of.

[00:11:20] Charging as possible. 

[00:11:22] Sam Kamani: [00:11:22] Excellent. where can I get it? Because I needed my own car. 

[00:11:29] Nate Peo: [00:11:29] Yeah. It's pretty simple. It's a company called Kiko green technology, kitchen, UV charging. There. They're here in the United States. I don't know. I don't know if they I'm sure they could find a way to get you one and I'll check 

[00:11:42] Sam Kamani: [00:11:42] it out.

[00:11:42] I will. Yes. And also everything we discuss any links, whether it is to the all in podcast or any of these startups you are mentioning, or any of the books that you might mention later on, I will put them in the description. So anyone listening. You can check out the description, whether it's YouTube or on any podcasting platform.

[00:12:01] So that is excellent. Nate, in your time you have worked with lots of founders, or who have wanted to raise capital or raise capital raise money, and also for real estate, a lot of that. is needed, the ability to raise funding because you not always are cashflow rich too, to have that initial capital.

[00:12:23]what advice do you have for anyone who wants to raise funding for their startup, that idea, or for real estate or whatever project it might be 

[00:12:33] Nate Peo: [00:12:33] for? I think what I've found is a lot of people come and they say, if I have the money, I can go do something right. If I have the money, I can go buy a real estate deal off.

[00:12:44] I have the money. I can go build a business. If I can go build a warehouse, I can create this product and market it too. But. Everybody gets that part wrong. The real, the thing is if you can get customers, if you can get a product, that's got a proven business model, you will have no problem finding the money.

[00:13:04]So that's you go and you say, I got no customers, but it's a million dollar investment. And we don't know if it's going to make any, make it. You're going to find. Very few people willing to put that kind of risk out there because you're also competing with investing that money in a million other investments that happen.

[00:13:21] But you got the stock market, you got easy real estate, you got bonds. So there's other opportunities to put that money in a safer investment. So you have to have something. That's going to pay off higher because there's more risk, but also more certainty. And so when you have a proven concept of proving customers, so let's say you build an MVP, built a very basic product that has no bells, no whistles, no features, but you have a thousand people paying you a hundred bucks a month for that.

[00:13:51] Like all of a sudden you have a business that says, Hey, what we need to scale this. We could add these features, add these things and grow the customer base. Then people are more willing to put money behind it because you've proven that people are willing to pay for it. You just got to put some fire behind that, that idea.

[00:14:07] So I always say, go. Test your idea, go out there and see if you can get customers. And if you can test your idea, if you can get customers, don't worry about if you sell something that you don't have, like we'll figure out a way to make it. And then we'll go from there and people tend to not want to do that.

[00:14:27] They always sit back and say, I just got to get the idea and I go get the money. If I get the money, then we can go do it. And it's It's 

[00:14:33] Sam Kamani: [00:14:33] not going to happen exactly, right? Yes. yeah, you say that, so many people build things when there is no problem or there is no market there and they want to just build it because they like their idea and they are the only one who like likes their own ideas.

[00:14:51] So yeah, you are a hundred percent right. That, get the customers first. Once you have paying customers. Money will come. That's not an issue I'm going down and on this, line and you have worked with a lot of other entrepreneurs and founders. What is one thing that you have found that other successful entrepreneurs do really well?

[00:15:19]Nate Peo: [00:15:19] gosh, a lot of them, everybody's a little bit different, but I think most of them are very persistent and. The their idea. Like they know that they are going to have to do a lot, to get their product or the finish line, or get their idea into a real business. And I think most have this continued desire for education and learning.

[00:15:46] They're very open to getting new ideas. New lessons, new mentors, new advice are not so rigid in their ways. The only way they're constantly seeking out, help from others. and they realize that they can't do it all themselves. And so they look out for, opportunities to bring a good team together.

[00:16:06] I think that tends to be what a lot of them have is the confidence to bring people together, that are going to help advance the project. 

[00:16:16] Sam Kamani: [00:16:16] I love that they built really good teams. So yeah. Thank you for that. when I do talk with, a lot of successful people, like you, I have seen that they are really good at sales, whether they know it or not.

[00:16:30]and everyone sells from time to time, whether it's their ideas concept or. all sorts of things. what was the first significant thing that you sold? 

[00:16:43]Nate Peo: [00:16:43] rush, the first significant thing that probably sold that I actually. Remember selling was, I started a landscape business landscape and concrete business a long time ago.

[00:16:54] And I remember selling my first backyard, concrete patio. And I remember telling the guy like, Hey, I've done a lot of these. I've just never done it. As me being the business owner and the arranging it and me doing it. But I promise you, we're getting to do a good job or we're getting to get it done.

[00:17:13] I think that one stands out as the first real having to, get somebody to say, yeah, I believe that you can do this and then go putting it together and doing it for somebody. 

[00:17:25] Sam Kamani: [00:17:25] Yep. Any depths for any founders or entrepreneurs listening on how to acquire customers, users or doing sales better?

[00:17:38] Nate Peo: [00:17:38] Yeah. Nobody really wants to be sold to. They want to feel comfortable in the buying decision. So you want to think of it as a conversation of what you do and how you solve it. there's various pain points that somebody might have. And if you're cuss, if your product doesn't solve that pain point, Then it doesn't do you any good longterm strategy wise?

[00:18:02] Cause you're not gonna be able to grow your business on a false claim. So it's you need to have your product understand your product or your service, what pain points it solves, and then explain to people, tell a story about how it does it, why that it's the choice that you should be making to solve this pain point and the right people come and use it.

[00:18:22] If you try to sell your stuff to everybody, It's not going to be very effective. You're going to miss the Mark on who you're trying to approach. You're not going to get the response you want because people are going to be buy something they don't need. And if they don't need it, they're not gonna rave and review about it.

[00:18:40]You want to really understand who your target audiences and this just speak to them, through a conversation and they will, be educated about it and they will make the decision on their own. And they'll love using that. 

[00:18:54] Sam Kamani: [00:18:54] Fantastic. Thank you. Thank you for that. really practical advice right there.

[00:19:03]before we finish, I have like few more questions. there's these three questions that I asked, which are like, quickfire questions. Just to get an insight into what you're thinking and doing these days. Is there a book that you are reading or what was the last book that you read? 

[00:19:19]Nate Peo: [00:19:19] right now I'm reading a book by Lewis house called the school of greatness and I'm almost done with it.

[00:19:26]it's a really good book. He is a lifestyle entrepreneur podcast host, but his idea behind the school of greatness is getting out there and getting connected with amazing. Smart intelligent leader, type people and learning from them, through exposure. So the school of greatness, isn't really a school.

[00:19:48] It's like the school of hard knocks, but it's a school of study and people who have retrieved great things, whether it was sports, whether it was entrepreneurship, whether it was, math and science, it's just getting yourself surrounded by really smart mentors and learning from 

[00:20:04] Sam Kamani: [00:20:04] them. Yep.

[00:20:06] Excellent. Any bud casts recommendations apart from all N 

[00:20:13] Nate Peo: [00:20:13] all in podcast is the only podcast you need to listen to? no, that's, I'm just kidding. I've been a recently a guest on, a friend of mine. His name is Roy. His podcast is the innovator podcast and, it's really cool. Show for entrepreneurs and is getting away from a lot of the growth and a lot of the raw you like some real, applicable actual stuff regarding time management, regarding strategy regarding, mindset, some of that stuff versus it just being like rude boss stuff.

[00:20:49] Sam Kamani: [00:20:49] Yeah. Excellent. And. If you had unlimited time, resources and money, what would you build? 

[00:20:58] Nate Peo: [00:20:58] Limited resources, time and money. I think I would look to, if it was unlimited, so that would be, I could do really big things. I think I would look to, help people have an easy, have a more. Even start in life.

[00:21:18] I think, The one people's exposure to education is different from where you are. If you're born in like a modern work, country, you have access to the internet, you have access to, so much more 

[00:21:32] Sam Kamani: [00:21:32] than if you're 

[00:21:33] Nate Peo: [00:21:33] yeah. It's 

[00:21:35] Sam Kamani: [00:21:35] everything. 

[00:21:36] Nate Peo: [00:21:36] Yeah. When you can't get past, having water, having healthy food and stuff like that, then becomes harder to educate and, Growers grow.

[00:21:45] What is your resources are dedicated towards survival instead of dedicated towards humanity. So we could get more people, basic needs along the hierarchy of needs Maslow's taken care of. Then we could challenge ourselves to solve bigger and better problems in the world. 

[00:22:03] Sam Kamani: [00:22:03] Excellent. Excellent. I do believe that, whether people acknowledge it or not.

[00:22:07]but luck of where we are born, where we had no sex, it has so much to do with their VR today. We would have a completely different. Role are, or what we are doing if we were born in a different gender, in a different part of the world, the different resources. So yeah, you are so true, right there. thank you so much, Nate, for your time.

[00:22:33]there, do people find you and do you have ask, are you looking for anything. 

[00:22:38] Nate Peo: [00:22:38] Yeah. So if you are looking, get connected to me, my website, Nate PEO in a T E P E o.com is where you can get connected to me. That's where my podcast is found. I recently launched a new Academy for business to business sales development, people to build better relationships with their counterparts, who are their ideal clients, so that they can basically get.

[00:23:03] Their phone calls, answer, get their meetings set up and make better relationships. So when they pitch products, they actually get selected instead of their competitors. So that course has recently gone live and I'm looking for people that would find a value in learning a bit more from the buyer side of the table of how they can be better salespeople.

[00:23:23] Yup. 

[00:23:25] Sam Kamani: [00:23:25] Is there any limitation on is that course only for people in U S or can it be global? Because for my podcast, I have listeners from 22 countries and 118 different cities that on the volt. 

[00:23:39] Nate Peo: [00:23:39] I believe it's global. And I think the lessons you would learn are really structured around building relationships.

[00:23:47] And I think it doesn't matter what culture, there's probably some idiosyncrasies of how you address people and how you behave in certain cultures. But for the most part, it's really about getting you to know who the person is. You're. You're doing business with and understand them in a way that makes you relatable and builds trust.

[00:24:05] So I think if it would transfer it, no matter where you're at in the world, 

[00:24:09] Sam Kamani: [00:24:09] Excellent. Excellent. That's great, Nate, thank you so much once again for your time. And I found this super useful and I'm sure a lot of listeners would find this episode very helpful, whether it was your insights on entrepreneurship or sales or acquiring that first users and funding.

[00:24:30] So thank you once again, Nate. 

[00:24:32] Nate Peo: [00:24:32] Thank you so much on me. I had a great time chatting with you again.