Visit Cristina's Company @ https://goediphi.com/
Summary
Cristina Carl, CEO of Edify, and Steve Walsh, angel investor, discuss the journey of building Ediphi and the importance of bridging the gap in hospitality training. Ediphi started as a way to help people in the Philippines find opportunities abroad in the hospitality industry. They initially provided training and pathways, but when the pandemic hit, they had to pivot and create an online platform. They focused on providing opportunities for immigrants and new American learners and developed VR modules and an AI-powered platform. Steve Walsh became an investor in Ediphi and highlights the importance of supporting founders who may face challenges in raising capital. Cristina shares her background in the hospitality industry and the inspiration behind Ediphi. She wanted to help people in the industry advance their careers and saw the need for better training and support. The conversation also touches on the role of humility and coachability in founders, the support from Capital Factory and Techstars, and the importance of building a real company with revenue before seeking funding. The conversation explores the challenges and strategies of fundraising for early-stage founders. It emphasizes the importance of traction and revenue in gaining credibility and attracting investors. The discussion also touches on the mixed messages and negotiation tactics founders may encounter during the fundraising process. The need for transparency and finding the right investors who align with the founder's vision and values is highlighted. The conversation concludes with insights into the attributes of successful founders and the value proposition of Ediphi, a platform for hospitality industry training.
Takeaways
- Edify started as a way to help people in the Philippines find opportunities abroad in the hospitality industry
- They pivoted during the pandemic and developed an online platform focused on providing opportunities for immigrants and new American learners
- Steve Walsh highlights the importance of supporting founders who may face challenges in raising capital
- Cristina emphasizes the need for humility and coachability in founders
- The support from Capital Factory and Techstars played a crucial role in Ediphi's growth
- Building a real company with revenue before seeking funding is a winning model Traction and revenue are crucial in gaining credibility and attracting investors.
- Founders may encounter mixed messages during the fundraising process, but it's important to differentiate negotiation tactics from genuine advice.
- Transparency is essential in building trust with investors.
- Finding the right investors who align with the founder's vision and values is crucial.
- Successful founders possess attributes such as openness, humility, willingness to learn, and grit.
- Ediphi offers a platform for hospitality industry training, providing companies with an evergreen pipeline of talent and personalized training options.
Quotes
"Old dudes know a lot of crap and a lot of people."
"A lot of angel investors, the number one attribute they're looking for is an element of humility, willing to listen, willing to learn, willing to grow, willing to take risks, but seek encouragement along the way."
"There's a stamp of approval. There's an amount of credibility there that's above and beyond anything you can put on a slide deck."
"If the idea is producing money, then it's going to land well, generally."
"Making sure that you do take something out of every conversation."
