CSUF Entrepreneurship hosted an engaging Roundtable Discussion featuring some of the brightest minds in the entrepreneurial ecosystem. Moderated by John Bradley Jackson, the panel included Phillip Stinis, Victor Macias, Ritu Thakur, and Travis Lindsay, each bringing unique expertise to the table. Throughout the event, they tackled pressing questions from attendees, covering everything from securing funding and building traction to overcoming common startup challenges. Here’s a deep dive into the most valuable insights shared during the session.

1. The Lean Startup Approach: Test Before You Build

One of the key themes of the discussion was the importance of validating ideas before fully committing resources. Phillip Stinis emphasized that entrepreneurs should test their assumptions through minimal viable products (MVPs) rather than spending months developing a product nobody wants.

“You don’t need a perfect product to start. Find a way to test your idea with real users as quickly and cheaply as possible.” – Phillip Stinis

Key Takeaways:

• Start by conducting customer interviews to confirm that the problem you’re solving is real.
• Develop an MVP and collect early feedback before scaling.
• Pivot quickly if data suggests a different approach.

2. Finding Investors and Building an Advisory Board

Victor Macias, a Shark Tank alum, shared his experiences with raising capital and the importance of having the right people in your corner. He highlighted that networking is crucial for securing investors and forming an advisory board that adds credibility and guidance.

“Investors don’t just invest in ideas, they invest in people. Build relationships, show traction, and prove you can execute.” – Victor Macias

Key Takeaways:

• Identify potential investors who align with your business vision and industry.
• Build a strong advisory board with mentors who can open doors.
• Prove traction through revenue, customer interest, or strategic partnerships.

3. Scaling a Service-Based Business vs. a Tech Startup

Ritu Thakur, a seasoned business strategist, discussed the different paths entrepreneurs take when scaling a service-based business versus a tech startup. Service businesses require hands-on relationship-building, whereas tech startups rely more on automation and exponential growth.

“Service businesses scale through exceptional customer experiences and word-of-mouth. Tech startups scale through automation and funding.” – Ritu Thakur

Key Takeaways:

• Service businesses must focus on client retention, referrals, and branding.
• Tech startups should refine their product, secure funding, and expand their user base.
• Regardless of the business model, systematizing operations is critical to scale.

4. Launching with Limited Resources: Bootstrap or Seek Funding?

For entrepreneurs working with limited resources, Travis Lindsay stressed that not every startup needs venture capital. Bootstrapping—growing with personal savings, revenue, or minimal external funding—allows entrepreneurs to maintain control and build a sustainable business before seeking investment.

“Bootstrapping teaches you discipline. You focus on profitability first, rather than spending blindly with investor money.” – Travis Lindsay

Key Takeaways:

• Bootstrapping keeps ownership intact but requires financial discipline.
• Seek external funding only when necessary, ensuring it aligns with business goals.
• Explore grants, competitions, and crowdfunding for non-dilutive capital.

5. Overcoming Common Startup Challenges

The panelists also addressed some of the most common struggles entrepreneurs face:

Imposter Syndrome

Even experienced entrepreneurs doubt themselves. Victor Macias recommended surrounding yourself with a supportive community and reminding yourself that every successful entrepreneur started somewhere.

Hiring the Right People

Phillip Stinis emphasized hiring not just for skills but also for culture fit and adaptability.

Marketing on a Budget

Ritu Thakur highlighted that entrepreneurs should leverage organic marketing strategies like content creation, social media, and partnerships before investing in paid advertising.

Final Thoughts: Your Network is Your Net Worth

A consistent message from all panelists was the power of networking. Whether it’s finding mentors, partners, or investors, building relationships within the entrepreneurial ecosystem is crucial.

“Opportunities come from people. Engage with your network, share your ideas, and support others.” – John Bradley Jackson

Next Steps: Get Involved

The CSUF Entrepreneurship community is filled with opportunities for aspiring entrepreneurs:

• Attend future roundtable discussions and networking events.
• Join the CSUF Startup Incubator to receive hands-on mentorship.
• Apply for the CSUF Consulting Program to gain strategic insights for your business.

This roundtable was a testament to the thriving entrepreneurial spirit at CSUF. Whether you’re an aspiring founder or already in the trenches, remember: start small, iterate fast, and build strong relationships.