Mike Bank: Anyone can build — but should they? | Part 2

In this episode of Nothing Ventured, host Aarish Shah welcomes Mike Bank, founder of Underdog, a pre-accelerated syndicate that supports solo and non-traditional founders in launching revenue-generating businesses while maintaining their day jobs. Mike shares insights from his extensive experience as an investment banker, early-stage VC, and angel investor, discussing the challenges and opportunities in starting a business today. The conversation touches on key topics such as the importance of desirability, feasibility, and affordability in business ideas, the evolution of venture capital, and the inspiring story of a 13-year-old entrepreneur selling mystery seeds. Mike emphasizes the need for hard work and determination, breaking down mental barriers to diversity in entrepreneurship. Tune in to explore the journey of launching a business and the support available for aspiring founders. Timestamps: 00:00:00 - Introduction to Mike Bank and Underdog 00:01:29 - Mentoring DayZero Founders 00:01:57 - The Acceptability of Failure 00:02:17 - Podcast Promotion and Episode Structure 00:03:04 - The Role of Capital in Business 00:05:24 - Democratization of Innovation and Business Creation 00:06:09 - The Youngest Founder at Underdog 00:07:13 - The Seed Box Business Idea 00:08:17 - Real-World Skills Through Entrepreneurship 00:09:44 - Reflections on University and Failure 00:12:28 - The Importance of Effort and Experience 00:17:27 - Understanding Diversity in Entrepreneurship 00:20:15 - Personal Background and Privilege 00:25:03 - The Challenge of Funding Diverse Founders 00:27:12 - The Evolution of Underdog 00:30:31 - Learning from Failure and Mentorship 00:32:18 - The Value of Networks in Startups 00:39:00 - Open Access and Low Friction for Founders 00:42:02 - Demand Validation in Business Success Find Mike Bank online at: LinkedIn: https://www.linkedin.com/in/mfbank/ Twitter: https://x.com/mikefb Underdog: https://underdogx.co This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe