S5E27 - 5 reasons why a spinout is better than a startup With Andre Laplume
We can all agree that creating a startup is hard but there is an easier way to become an entrepreneur with a much higher probability of success. In this episode of the Payback Time Podcast, Sean's guest Andre Laplume breaks down 5 reasons why a spinout is better than a startup. Andre Laplume is a Professor at the Ted Rogers School of Management and author of the bestselling book 'Spinout Ventures'. Starting a new business is undeniably challenging, requiring immense effort, dedication, and often a bit of luck. However, spin-out ventures provide an alternative path to entrepreneurship with a higher probability of success. They involve transforming an idea already developed within an existing organization into a separate, standalone business. This approach offers several advantages over traditional startups, making it a compelling option for aspiring entrepreneur Key Timecodes (00:35) - Show intro and background history (01:28) - Deeper into his career journey (04:39) - Understanding the spin-out venture definition (07:26) - Deeper into his business model (08:40) - Why spin-outs can be more successful than new startups (11:46) - Commercial break (TYKR mobile app) (12:28) - What an entrepreneur need to know to run that type of business (15:56) - How spin-out founders can work together with other companies (19:42) - Where spin-outs can find funding (22:42) - What are the benefits for the parent companies (26:11) - Guest hot tips (28:45) - One more key takeaway from the guest (34:15) - Guest contacts