Episode 52

Navigating Fundraising and Growth in a Competitive Market 💰 | Justin Schoenfelder - E52

Published on: 3rd March, 2025

In this episode of Funds and Founders, we welcome back Justin, founder of Fantasy Elect, a cutting-edge political gaming startup. Justin dives into his journey over the past year, tackling fundraising challenges, optimizing user acquisition, and building a trust-driven remote team. Gain actionable insights on scaling a startup in the political arena and preparing for upcoming elections.

Learn how Justin:

  • Navigated fundraising in a volatile market
  • Tailored user acquisition for B2B and B2C
  • Leveraged strategic partnerships and VC relationships
  • Selected the best cities and events for growth
  • Pivoted from fantasy sports to political engagement
  • Fostered a remote team culture based on trust

Timestamps: 0:00 - Introduction & Year in Review

2:50 - Fundraising Challenges

5:32 - Choosing the Right City

9:04 - Fundraising Lessons

12:47 - Cold Emailing Strategies

15:09 - Current Fundraising Focus

16:53 - Event Optimization

21:25 - Ecosystem Insights

22:29 - Pivoting Customer Acquisition

24:32 - Early Lessons

25:44 - First Three Months vs Now

29:45 - Importance of Marketing

34:09 - Continuous Marketing & Feedback

38:24 - Planning for Elections

42:41 - Engagement in Off-Cycles

46:04 - Exploring New Marketing Channels

49:12 - Time Management

55:09 - Team Culture & Trust

57:06 - Remote Work vs In-Person

59:04 - Future Plans & Insights

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About the Podcast

Funds and Founders: Untold Journeys Behind Their Breakthroughs
Welcome to "Funds & Founders: Untold Journeys Behind Their Breakthroughs," where we dig deep into the stories of successful Austin founders. Instead of focusing on their successes though, we dive into their journeys, particularly the struggles and obstacles they had to overcome.

This weekly podcast is tailored for Austin founders navigating the early stages of their entrepreneurial journey and hosted by fellow Austinite Abhinav Sinha. Here’s what to expect by tuning into Funds & Founders:

🚀 Embark on a Journey to Success
Join Abhinav as he takes you behind the scenes, exploring the highs and lows of building a company. This isn't your typical success story – we dive into the failures, the struggles, and those pivotal breakthrough moments that define a founder's path.

🌟 Real Conversations, Real Insights
Abhinav's approach is refreshingly different. Rather than dwelling on success, he crafts casual conversations that unravel the untold stories. Identify the setbacks that helped them grow, the lessons learned from failures, and the breakthrough moments that fueled these founders.

🤔 Why Didn't They Quit? Learn and Apply.
At the heart of each episode, Abhinav delves into the 'why' behind the perseverance. Why didn't they throw in the towel during tough times? And, most importantly, how can you apply their insights to your own journey? Get ready to be inspired and equipped with practical takeaways for your entrepreneurial adventure.

🤝 Decoding Venture Capital
Ever wondered what goes on in the minds of Austin's venture capitalists? Abhinav sits down with local VCs to decode their criteria for investing in early-stage companies. Gain valuable insights into the world of venture capital, understand what investors look for, and appreciate the vital factor of founder-investor compatibility.

🎙️ Meet Your Host, Abhinav Sinha:
Abhinav's soft-spoken yet inquisitive style creates an intimate atmosphere, allowing guests to share their authentic stories. His genuine curiosity and insightful questions make each episode a captivating journey into the minds of Austin's most successful founders.

If you're a budding Austin entrepreneur seeking the inspiration and insight needed for building a successful company, "Funds & Founders" is your go-to podcast.