Ty Findley covering Industrial Tech on The Full Ratchet
I am a big fan of Ty Findley and the work he is doing as a Managing Partner of IRONSPRING. Ty was recently on an episode of Full Ratchet with Nick Moran. On the episode Ty referenced some of the work on industrial technology exits… and gave me one of my better nicknames “Digital Industrial Partner in Crime!” The content in this episode is excellent.
The link to the episode can be found here: Industrial Innovation
And the link to the M&A statistics that Ty and I put together can be found here.
I encourage you all to listen to the podcast. In the content you will hear Ty’s wisdom in knowing the nuances of the industrial market. He also reveals his passion for entrepreneurs to make the correct decisions around capital efficiency and go-to-market strategies.
There were two specific segments I really enjoyed and highlighted those below:
“…sympathetic as to why it is so challenging to sell technology into these industrial markets… there is a lot at stake in the OEM production environment. I try to put myself in the customer’s position when evaluating how they will purchase the technology. Everyone jokes about buy SAP before you buy a start-up to keep your job.. but think of it this way: if (an incorrect deployment) of new technology inhibits a 737 production line, it is less about that one airplane… but you are actually stopping GDP that was supposed to fly because of that slip-up. Need an appreciation for the complexity “
“If a founder from the beginning takes the right capitalization strategy and is capital efficient in tackling these industrial markets… the markets are huge… and massive opportunities to drive value to customers and Limited Partners”
And finally, this phrase shows just how important it is to keep investing in these hard-tech businesses:
“Can’t afford to leave these industries behind in tech, they matter too much“
Go listen!
Begin with the end in mind. Don’t get caught up in the hype of traditional Silicon Valley.