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Jul 18, 202339mEpisode 7

How do you raise $4.2M as a Midwest founder?

The short answer

Brandon Peterson, CEO of Geokey, raised $4.2 million from Nebraska by focusing on an investor's framework of "People, Product, and Profit." He shares how a painful early pitch, where investors ignored his 100-page plan to ask "how are you gonna make money?", taught him to focus on fundamentals and secure a key partnership with Master Lock.

Market Context

What 2026 exits actually pay for SaaS

Miro had $600M ARR and 250,000 enterprise customers. They sold for $1.79B — roughly 3x revenue. Their 2021 investors took a 90% haircut on their mark. This is the current market clearing price for quality horizontal SaaS. If you are building toward an exit, you need to know which multiple category your business belongs in — before your board does that math for you.

Highlights

  • Raised $4.2M total for a Nebraska-based PropTech startup.
  • Pitched 50-60 investors to secure the company's early-stage funding.
  • Pivoted from gyms to multifamily after 3 years of searching for product-market fit.
  • An investor ignored a 100-page plan to ask one question: 'How are you gonna make money?'
  • Landed Master Lock as a partner after an investor challenged him to prove market validation.
  • De-risks investor meetings by asking beforehand: 'What are some things that would wow you?'

The full breakdown

Brandon Peterson, CEO of the hardware-agnostic access control platform Geokey, successfully raised $4.2 million for his Nebraska-based startup. Starting with a friends and family round, Peterson navigated the challenges of fundraising in the Midwest, a region he notes can be "a little bit more conservative in their investment strategies." His journey involved pitching upwards of 50 to 60 investors, learning to treat the process like a sales funnel where persistence and understanding averages are critical. Peterson's fundraising strategy evolved significantly after early rejections. He recalls one pivotal meeting where he and his team presented a detailed, 100-page operational book, only for the investors to push it aside and ask, "how are you gonna make money?" This tough feedback forced a shift in focus. It also led to a direct challenge that proved transformative: an investor told him to land Master Lock as a partner. Despite the daunting task, Peterson's persistence paid off, securing a partnership that validated his model and became a cornerstone of his pitch. A key turning point for Geokey came in late 2021 when the company pivoted from serving gyms and small businesses to focusing on the multifamily housing market. This decision was driven by a mentor's advice: "if you're not first, second or third, pick a new industry." By concentrating all sales, marketing, and development resources on this vertical, Geokey found a scalable model with better unit economics, which was crucial for attracting institutional capital. Peterson credits his success to a simple framework shared by a recent investor, who evaluates companies on three criteria: People, Product, and Profit. For "People," the investor's due diligence focused on whether the team was coachable and aligned. For "Product," it was about market longevity and demand. For "Profit," it was the clear path to profitability, even if not immediate. Peterson emphasizes that founders must check all three boxes, stating, "You can't have two of them and not the third, and expect to be a great company." His most actionable advice for founders is to proactively de-risk the fundraising conversation. Instead of assuming what investors want, he now asks them directly before a meeting: "What are some things that would wow you? What things do you want to see?" This approach provides an "answer key" to the meeting, allowing him to tailor his pitch to address their specific concerns and criteria, a lesson learned from being burned early in his journey.

Who's on this episode

Brandon Peterson
Brandon Peterson
President & COO · Quext

Brandon Peterson is the Founder and CEO of Geokey, a cloud-based, hardware-agnostic mobile access control platform. A serial entrepreneur from a family of business owners, Brandon previously helped triple the size of his family's national online auction company. He founded Geokey after experiencing security and data challenges while operating 24-hour gyms. The company, which holds a patent for location-based access authentication, has since pivoted to focus on the multifamily housing market. Under his leadership, Geokey has raised over $4.2 million and secured key partnerships with major hardware manufacturers like Master Lock.

Questions answered in this episode

References & resources

Hosted by

Jason Kirby
Jason Kirby
Host · Founder, Thunder.vc

Podcast host, angel investor, and serial entrepreneur with 4× exits ranging from small businesses to VC-backed tech companies. Jason has been personally involved in over $100M in transactions and now helps founders close their next transaction at Thunder.vc, from pre-seed rounds to $100M exits. He coaches founders through their next major transaction and gets the deal done by introducing them to the right people in his network.

Apply to work with Jason

Full transcript

they are going to own part of your company that you have worked so hard to build you should be selective too welcome to fundraising demystify the podcast where we uncover The Untold Stories of successful Founders who have raised Venture Capital to bring their Visions to life join me Jason Kirby your host as we dive into the Hidden Truths of the fundraising game we'll explore different strategies tactics lessons learned from these entrepreneurs who have figured out how to win the fundraising game in their own way whether you're a budding entrepreneur just getting started or an established founder looking to scale your business this podcast equips you with the knowledge and inspiration to conquer the fundraising landscape welcome to episode 7 of fundraising goodness divide today we have Brandon Peterson with us CEO and co-founder of geok a cloud-based mobile access solution for doors Gates elevators all for commercial real estate purposes they've recently raised a 2.2 million dollar seed round and we're going to talk about getting product Market validation how the pitch differs across different company stages and why Founders need to look Beyond money when looking for investors let's go ahead and get started hey everyone this is Jason Kirby here founder and manager director of Thunderdome AC and your host today uh fundraising demystified today we have Brandon Peterson from Gokey joining us after successfully closing uh 2.2 million dollar uh seed round uh Brandon thanks for joining hey thanks for having me awesome well I would love for you to you know welcome the audience and give them a little bit about your your background and uh what led you to defounding geoki and what's been your entrepreneurial Journey absolutely uh well thanks for having me here uh so my background as I come from uh serial entrepreneur family Grandpa started businesses uh dad started businesses and and I think I just had to do it all we talked about on on holidays was uh starting businesses and and making an impact so I just kind of ran in our blood a little bit uh so came from an auction company I always said I would never do the family business um that later changed which uh so happy it did but did things then uh 24-hour gyms uh co-working spaces real estate projects some around today some not and that's just how it goes Grandpa always said the only thing you can be married to is your wife and and we follow that motto so uh one of the ideas that um is still around and flourishing today is geokey and I came up with the idea went in the gyms it was a key fob 24-hour people were keep popping in it wasn't the paying member and I said oh my gosh I'm losing money uh no data analytics lack of security there's got to be a better way of doing it so looked into the market at mobile access control because that's the thing everybody has on them but I didn't want to be like everyone else where you're manufacturing your own Hardware component and putting a cool app on top not an engineer inventory can bring down companies can I just be the cloud-based overlay for that controls all of them so so we did bootstrapped it got a patent on using your location services to authenticate access a fancy way of saying your location opens the door hence the name go key it's a geolocated key and uh made some big Partnerships uh so no key Access Communications Port uh the most recent one we're really excited about is Master Lock we have carry systems and then a handful of them coming up that were launching this year so Hardware agnostic platform and through a journey we started in small business and eventually migrated into the multi-family housing space and controlling every door component mix and matching Hardware manufacturers and creating this amazing smart Community with this platform called geoki uh it's amazing and yeah I love the the story of kind of starting off uh the family well trying to avoid the family business you know thinking you're going to do it rather than finding your way back in but you had some success uh participating in the family business tell us a little bit about that yep yeah um you know started uh in the marketing department um Dad had a national online auction company and I said man you are killing it because all you do is postcards and emails for marketing and you're a national company I said that means you offer good service let me jump in here and expand this so um learn pay-per-click advertising YouTube video social media the whole nine and then uh Diversified from there into the sales department um uh dad put me in charge of that and and took these part-time call center into a full-time Sales Machine CRM leads and then uh migrated up to a COO position and triple the size of the company in about five years and it's uh great processes and an amazing team so I ended up loving doing that and uh it still kicking butt today and an amazing flourishing business oh that's phenomenal that's a great success story and it sounds like from what you said you kind of had to teach yourself all those skills to be able to apply them to the business so you know just kind of showing your ability to kind of quickly learn and adapt to an environment and pick up those new skills well I you know I am a huge uh proponent to mentorship I have coaches all along the way I found one coach out of Nashville and uh I just felt like I was hitting the ceiling I was like I know I meant to do great things but I just don't know what the next steps are so found him actually um just uh hitting him up on an Instagram and got back to me and he has a book called The Boxcar millionaire and uh he came from Kansas I'm from Nebraska and uh kind of those Grassroots um uh kind of helped us out he's brought five companies public has you know 300 million dollar 500 million dollar company Acquisitions and I just said coach me I said just teach me and I will do it and he has I've been working with him for a few years now and it's just been a phenomenal ride so it is huge uh proponent to mentorship and coaching that's it I think that's something that's important for a lot of Founders to realize about building you know relationships early before you know a lot of Founders going to go and like hey I want money and let's let's go out and start trying to build relationships and usually investors will have a wall up or you know kind of defense mechanisms up but when you kind of approach them from that you know earlier days of building a relationship asking to be coach a mentor you know those are the ones that often lead to much more fruitful fruitful outcomes I'm glad you guys I 100 agree and I think the biggest problem the CEOs or early stage Founders kind of following this trap is I've got to know everything right I've got to know every Department I've got to know everything about raising money I've got to know everything about the markets and so on and the reality situation is you don't um when people are looking to invest in you or Mentor or coach you they just want to know that you're willing to learn you're ready to put in the work and they don't expect you to know everything if you come in act like you know everything they're probably going to push you off so if you say hey Jason I really just love your journey I respect everything about you and what you've done can you help me with this we're proud they're excited about what they've learned they want to teach you and so once you get into that mindset it's just a game changer I I completely agree I think that's a a viable point for just about any founder just to accept humility and and be open to feedback and open to the fact that you might be wrong and that other people might have other ideas um even if you're all right you don't know what you don't know and uh it can be very helpful um so let's go back to Geo key so you've been working on Geo key for about what's it five years or so now yeah so 2017 2018 when is the idea cultivated and so from there it was bootstrapping it uh finding client I remember the first client I called uh we didn't even have a product yet I just wanted to see if people would buy this thing this idea so I called this company and I was like you know you should put mobile access on there you don't need any more key fobs or keys and it's it's cloud-based and all that they're like oh love that when can we get installed I'm like I gotta go build it and uh so Market data and just pulling that all together together and saying does does the market have a taste for this idea that I have you know and so um from there started building it um it was and less than an MVP it was an alpha product or you know first stage product um and then I found another client that uh this was the first install we did they believed in it too and it was a cigar lounge and uh they were just using it all the time and I got so much feedback I mean it was like can you do this and what if you did this and I like this and and it was like perfecting the product before we went into full expansion mode um and then once we feel like we perfected it to a good sense and we're like okay we can go sell in certain markets that's when we started bringing on teams and um just found some Wicked smart people um my cro uh you know used to he was the top of the world for uh recruiting at Robert Half my coo 25 years in the security industry I didn't know that stuff I needed help my chief of strategy was in the real estate development World um and so on and so more people started coming in my CT yo my director marketing who all like these these this knowledge that I that I didn't have and then collaboratively we were able to just blow this thing up and and expand the company yeah that's phenomenal so it sounds like you're able to really recruit some amazing talent at an early stage when do you think things really started to pick up for you um I would say it was probably end of 2021 was when things started picking up and here's why um we started in small business I got the I got the idea when we were in gym so we we sold to a lot of gems uh we solved a ton of problems for them but we didn't make any money and so you gotta that's the feel so we said okay we have to Pivot um I know it's where the idea came from but there's got to be other areas that we go to so um we went into we had padlocks we went into utility companies and Manufacturing uh centers and that was great you know we went through FDA Audits and passed them so we know our technology is sound but just was wasn't quite right until I had a buddy who was building a um a multi-family apartment and he goes can you control every door I'm like yes and he's like do it and so we did and and we got it done and we're like holy smokes this is this is it you know a lot of access points we can make this happen so we've said okay sales marketing Dev support everything targeted right down in this industry we will never turn away business so if those past Industries want to use us we fit great with them but this is where our focus is for us to win um you know when we would go to investors at an early age and say we can do gyms and we can do lounges and we can do you know and they're like pick one and I had one coach one time he goes which industry are you second or first second or third in and we're we just kind of like we're stunned and he's like if you're not first second or third pick a new industry and that was good advice and that's when we picked the multi-family apartments and when we picked it we weren't um but as we enhanced our Integrations and our features and and those types of things um we are and so it you just what does it take to get there if you're not there right now yeah I'm really glad you kind of brought out that that point of like pit pick a lane or you know pick an industry pick a channel um yeah but you're you kind of it didn't just come to you day one though you know you kind of had to experiment and explore and kind of figure out where the fit really is and when you found it you win all it yeah to three years you know if you think about it three years that's a long time and uh you know it's just a lot of learning and persistence and knowing that this is this is where it's going but you're exactly right and you have to you can't be too proud you know it's just like where are we going to be most successful and in that Journey so you're you're dabbling in different Industries you're trying to find your way you know at this point you've raised a total of 4.2 million um as of today um walk us through that fundraising Journey from you know the the first capital you raise and how you got it to your most recent uh round that you just closed yeah um you know it's it's bootstrapped um you know friends and family going to friends and family first and and getting that done uh that's some of the hardest people to pitch to because I every every phase that you go through um if it's pre-seed C going into series a you're pitching completely differently um at least in our experience um in the we I remember our first financial performance uh not even close um because we were too spread out right we're we're trying to sell into all these different Industries we haven't figured out our pricing yet and so really when those investors who they're investing in is uh just you right they believe in you and they believe that this this product is going to get there and do they think you have all the answers no um but they know that you'll figure it out and so that's where that's where that first started and then it's constant communication and saying hey you know you made a good decision here's why this is the successes we've had over the last month quarter six months year whatever it may be and keeping that engagement is so important with your investors and shareholders uh because they're they proud too they want to they want to go tell all their friends that I'm smart and I invested in this company that's going to make me money you know and so good communication on that sense um even letting them know letting them in on your pain points hey this is an issue that we're facing right now um this is how we believe we're going to get around it if you've got any insight would love that and and if you have good shareholders they aren't like oh you're dumb and this is what you got to do they're like hey you know I thought about what you said have you ever thought about this and it's like great lens you know I I never thought of it that way and so that's that's powerful as we've obvious we adapted um started getting in the industries we built better performas understanding better numbers getting our pricing down understanding what's realistic from a sales perspective in a certain amount of time it's taken all of those things into account and uh you know our most recent investor I said why do you invest in this he goes I go you got a similar you got like a simulator that you run us through uh that like we Mark your boxes he goes I do it's three boxes people product and profit if you're I I my due diligence is the people is anybody gonna be um is anybody gonna halt this growth is anybody gonna hold this thing back or is everybody coachable and ready to learn and ready to grow how passionate is everybody um how agile is the team you know so it's that people what are your core values have you established those um what do you do in certain ethical you know situations how do you strategize you know those types of things product is this a product that's going to be around in three five years is this a product that people are paying for that they want to pay for What's the market say about that you know and digging into that and the last one's profit um you might not make be making money in the next year two or three but you're gonna be making great profit in five because you have Market penetration and do you know your numbers enough to speak to those things and so those three criteria you mark those boxes and there's no you can't have two of them and not the third and expect to be a great company you're going to have huge challenges so it's only when you have all three that you'll be not only successful in your fundraise but successful in your business life cycles that's some great advice and I think that's applicable to just about any investor they might not have the that exact framework but I think those boxes need to be checked in just about any scenario and as a Founder if you don't have those boxes checked just quite yet it's probably worth spending the time figuring those boxes out before going out to raise um not something that we try to help loungers uh you know figure out in their their fundraise process so I want to kind of go back and uh so you're based in Nebraska correct yeah so yeah so talk about you know being based in Omaha where you know there's a little bit of a startup Community coming up but obviously nation in comparison to the coast and what's you know standard out in La San Francisco New York and so on um what's been the experience being on the Midwest and trying to raise venture capital yeah um it is it's both positive and negative at the same time um Midwest can be a little bit more conservative in their investment strategies uh you have to go do a little bit more due diligence and you have to show it um you would go through the ringer but you you they have a lot of confidence after that and you'll they'll tout your name um when it comes to fundraising in the midwest being a Midwest company uh that's been a huge um you know a positive thing for us Midwestern values trust um uh Integrity these are all things that I know us at not only Geo key stand behind but in the midwest General generally that's most companies that at least I know and are acquainted with uh so there's there's a wall that comes down being in the Midwest and saying hey we're Farm kids and uh we've done everything uh you know working with our hands and but we love technology I love the the phrase humanitarian Tech yeah you know it's taking game-changing technology solving a huge problem that people want to pay for but you have the humanitarian side of that that means you're hard working you care for your neighbors you care for your team and you're all doing it together to make a difference and make an impact and that's and that's something being the Midwest I think that's kind of innately in us and that's been a huge platform for us no it's great to hear and you know having been you know working with a company out of Kansas City years ago and helping them raise Capital that was a sentiment that we also kind of recognized as well uh when raising from you know talking to West Coast PCS versus East Coast species versus talking to Midwest species there's definitely an inherent appreciation for uh just that Midwest culture amongst Midwest species you know we you know we ended up raising around from uh you know San Francisco korean-based fine but because we were you know gaming company but still in the last you know having those conversations and talking to those types of investors there was definitely more of a like they're rooting for you they're rooting for the Midwest to kind of have more you know big unicorns come out of it and whatnot so it's great to hear um it feels that way I think you're right and you know um kind of walk through some of the difficult experiences that you had when going out and trying to raise Capital what are some of the points that you know you you struggled or it took a lot longer you got a lot of pushback um you know what are some of the tough points that you dealt with yeah totally um I remember some of the first early round investors um their advisors now just awesome awesome people um me and my cheapest strategy went out um to go pitch to them and we flew out we're so pumped um we had every department head put together you know 20 to 50 pages of like Sops of how they operate I mean this was like a 100 page book that was just so thorough and of our plans and what we're doing and just how operationally sound we were and we were just so proud of it and we go into this meeting and the book was basically just kind of thrown to the side and they're like but how you gonna make money and we're like I want to talk about the book we put work on the book and they're like no no the book's gonna change a hundred times over how are you gonna make money and what's your strategy you know how are we getting this all done and we left that like pretty defeated and we were like holy smokes like I thought I was gonna be way easier than this like it this is an amazing I mean we know we got something here they told us we've got something here this is what why we're here and they were like yeah I know you got something but you still need these extra things um you know you know you need to have a better performer you need to be more realistic you need to make you know better Partners you know and it's just all these things and uh I was like oh my gosh uh you know one of the things that came out of it was um you need to get master lock as a partner and I was like Master Lock are you serious they're like ginormous how would I ever and uh I was like you know what why can't I and I just bombarded hey you don't know me but I want you to and I think we play really well together and they've eventually picked up the phone and and now we have this amazing partnership with uh Master Lock and and Fortune Brands and it was looking back like in the moment you're like jeez these guys are you know they're jerks like this we believe in ourselves but in reality they were just it was just tough love coaching because that's this world you know and you just you got to be thick-skinned you gotta you gotta take a couple beatings and then get back on the horse and keep riding and that was one of the biggest things um I learned from that and so come in um what you think is prepared might not be the definition of what that investor thinks is prepared ask them hey I'm coming into this meeting um and then I would say this is more early stage but I'm coming to this meeting what are some things that would wow you you know what things do you want to see um because everyone's different so I just want to know what you think obviously we're in a pre-seed route and so they'll probably tell you you'll say well I want to see this this and this and so it's on you to prepare it and bring it to the table and so that was that was one of the things I learned from uh from the early side of raising money I think that's a really good point because you actually do that in meetings did you kind of reach out to them and ask what they wanted to see before you pitched them oh yeah I do now you know I got I've got uh hey and I usually start with like hey I've got performa investor deck cap table P L's balance sheets is there anything else that would really give you um confidence in us that you would like to see because here's the thing about Investors they're they never they're not 100 successful not every investment they have has been successful I don't know one they've been burned so you learn things from being burned so they might say well I want to see your soccer 2 compliance or I want to see your um your risk mitigation plans or I you know whatever you know they they'll throw that out to you and you just got an answer key uh that could perk up their ears a little bit more that's a great strategy that I think that's something that we'll definitely kind of encourage we always look for these types of nuggets to pass on to the community and just that that's a great one it just turns away what before we get into the minutia of everything like what's actually going to be worth the time to discuss that's going to differentiate us as opposed to just going through the motions I think a lot of Founders come ready with their very perfect you know kind of prepped pitch and they're like ready to go through the deck and then most PCS like you're not plugging in your computer you know you're not you're not putting up a side deck like stop a conversation you've seen the deck like we don't care like no no if you fight as a Founder to pitch your deck and go through like a 10 minute presentation you've already lost them uh right absolutely yeah I've made that mistake my first you know startup and I always remember just seeing VCS fall asleep in the meeting and just like but like pouring our hearts out but they just don't care yeah so that's great input and then you know just in your journey yeah as you ended friends and family did appreciate you close your seat you know like how many investors do you think you pitched over the course of that oh my gosh um probably I'm upwards to probably 50 or 60. um yeah I mean it's it's like sales I mean it is a form of sales you know you've got you got your sales team um or maybe your both your your quasi um you don't close every deal you are trying to pitch for a client it's the same thing with investors uh it's a lot of averages and so you got to get out there and also here's the other thing um this is something I've learned is when I was first pitching investors it was like do you got money and they're like yeah I was like that's enough for me and and that's even evolved over time it's uh you know um you know investors say they can help with go to market strategy and hiring but how what stands you different from other VCS you know I love that question um you know these are our goals um to get here to this how can you help increase our goals uh our sales by five percent what do you bring to the table to do that um another question I like to ask is what level of communication is a good investment company to you like from the CEO what do you how much communication do you want um how involved you are you wanting to be and so what you're finding out in this is you're dating you know you're it it's a partnership they are going to own part of your company that you have worked so hard to build you should be selective too and so it it comes down because the best Partnerships and I and I and I speak to all the shareholders that are on Gokey right now every single one of them works so hard to bring so much to the table and it's it's a team the shareholder group is a team alongside the Geo key team and it's just it's a beautiful thing if done correctly that's well sad and these are great questions and and perspective to have of more or less choosing your investors and when um when you got through this pitching process like well how did you go about identifying who you want to pitch you know what resources or tools did you use to to get in front of them um so we took a few different strategies um our friends and family and then going to VCS that um were in the prop Tech space uh that's been a strategy um you know utilize your team um the this last investor that we had we had one of our um sales managers uh contact a company I already told our cross like we need to raise money um and he's like what about having a client be an investor and in doing a warranty deal like any you can do that why not other people have done it and so we had you know reached out sales manager contacts one of the property developers property developer gets to the VC arm of this big company um they talk to my cro wow I think this is a good uh fit they pull me in and then the rest was history and so it can come in so many different forms um of how you think it would be best to structure it that's why it's best to analyze what do you need do you need money or do you need strategic Partnerships that get you to where you need to go and it's just analyzing what you need at that time oh well sad and I think that you know kind of goes to the point of just you know diving deep within your network and looking Beyond just I need a million dollars you know and you know trying to figure out what would be the most impactful million dollars you know what can have added value and why you're handing over a piece of your company uh you know do that yeah um you know so okay so gone through this this journey you know how did you manage the the fundraise process while still building and scaling your company um it was a lot harder early on that it is now just because I have such a solid team um you're wearing a lot of hats you know at the beginning you know you're doing sales marketing um you know you're doing QA for if you're software company um and then you're talking to investors and you're trying to make that all come together um having we're we're a big um traction EOS company we love we love to have that so having knowing what you don't do well find that person to compliment you and do those things uh even if you have to give up a little bit like it's totally worth it I was talking to somebody about this the other day I said starting a business now compared to starting a business 20 years ago is like completely different um you could start a business 20 years ago and it would be like yeah I can do it myself and and Slow Grow and all that starting a company now especially a tech company like you get you gotta you gotta do it right and you gotta do it right the first time and so it takes being the best and having the best people surrounded with you and having people that compliment you and self-awareness and and what you're good or not good at is like imperative like you have to know yourself to know the company to be able to to grow it it's just um another League you know I wait we were joking about this how come the hundred meter dash gets a new record every year you know people get better and better and better it's the same thing in business you know people are getting better and better and better and they're utilizing technology tools and Ai and and they're continuously learning and and you just have to be sharper and smarter and faster and stronger than ever um and then so that's organizing your calendar to building your team to finding strategic partners uh it's a lot of work but you get it right pays off and when you were building the the company going out and pitching investors what was kind of the I would say like you pitch 50 60 VCS investors you know what was the most common reasons you got passed on one of the things that uh people passed on was um you know a busy Market very noisy industry uh there's a lot of prop Tech there's a lot of Access Control um and they're not wrong it is but we believe with our technology being Hardware agnostic and our patent we stand out and that's what that's what we bring to the table so it's understanding that if you are in a noisy industry what are your value propositions how do you stand out how do you become the first second or third and that's really important to to understand that the other one would be knowing your numbers just know them study them you should know it I talked to somebody about this the other day I said okay you know um you know if you can go on a vacation this year and you know how much you can probably spend on that vacation so you know your personal finances you need to know your company's finances and numbers and performance just as much as you know that and it's so important to get into that mindset you get later stage you know and I think pre-seed it's you know good to have a good idea where you're going you know see you kind of have to have some validation some traction some numbers and then you know as you go under your series a it's like heavy numbers you know and what uh LGBT attack and a variety of other you know ratios that VCS like to run in their models to make sure you're gonna have defendable gross margins you know to properly scale and you know put a dollar in get three dollars out and so on so I think it's a it's crucial for all founders to dive deep into into the numbers and be more and more prepared to be amazed how many series a decks I see that just have a projection slide and just like no you need you need to have hard numbers like VCS want to take these plug them into their model before they dive any further uh and they want to make sure these things pencil uh that you have you know staying power effectively um so you kind of talked about this a couple times so you specifically chose to avoid hardware and enable yourself to just be a mobile app so you know instant accessibility to any of your customers you know what kind of pushed you in that direction um and how do you guys make money today yeah um great question uh you know the the original idea was the inventory and and the capabilities of pulling that off I mean you're going into a market that people have been doing it for 40 50 years making a phenomenal Hardware uh technology but the one thing that we realized going into the market is yes they can do software but can they be as agile with the software to give the client exactly what they need and it is fast-growing prop Tech world we knew we could do that but we couldn't do both and so and just like them you know it's the same thing so that's when we took this methodology of partnering uh with these manufacturers to to go into certain markets and then people get to choose the hardware component they want and then they have one solution to manage it so they don't get the app fatigue they they have easy cloud-based management and they can understand that their property is safe and it's secure but it's also simple to use and those two simple and security uh have not really been together in the same sentence and that's something that we're providing in the market today that's great and uh as a person that believes in aquila's life I am very much a huge proponent of not carrying keys I I sold my previous cards I get a Tesla just because I didn't want a key right man it's easy yeah uh no I completely agree with that that sentiment and so um yeah when you went out going back to oh it's a from a chart how do you make money is it a just a sassy per you know end user how do you guys decide on the business model yeah we do a sassy so um not to dive into technical but we if it's going to be a new build property we do division eight division 28 we help with spec Riders on staff that help customize uh this no properties alike right so we customize the access control solution to them that works with exactly what they're wanting to do um on the on the back end if retrofit our existing property we go in and say what are we trying to replace and make this a smart building or is it is it deadbolts or t-slocks handles or we want Gates elevators and so then we go in and do it do it that route and then uh we we sell to them with a SAS fee and included in that we integrate into their tenant Management Solutions their pms's with like yardi and we can go control that all the way down to the tenant and on top of that we do 24 7 in-house support from the property manager all the way down to the tenant if you can't get into your building and you're having troubles you're typically upset and so our team is there to to help them out so we we are all about this is the humanitarian Tech right technology that is game changing it makes your life so much easier but there's a group of people behind it that's going to take care of you and that is the premise of geokey that's well said I see why uh you know investors are excited I'm back in the team and just being able to hear how you are taking really you know explain your your mission and where you guys are at and kind of tie it all together Beyond just you know mobile access uh and kind of telling the broader story and it also sounds like a much more complicated sales cycle than the average person might expect in terms of specking each and every building that you have to go into and how who gets what access I imagine there's quite a bit of a consultative sale to kind of get it down to the finish line absolutely yeah nail in the head uh that was one thing getting into the prop Tech space and multi-family how hard could it be if you jump in there you're like all that hard okay let's figure this out um then you know having to kind of shared your story to this point yeah what would be your your final words to to entrepreneurs out there that are looking to follow a similar path of trying to raise Capital grow a successful business you know what would be your your advice to them uh yeah great question my advice to them would be know your numbers um make sure you have a good team do the three p's the the product uh the people and the profit make sure you check all of those boxes when you're going in ask the investors what do they what is an ideal um investment look like to you you know what what what do you look for when you're putting in there and then just really just understand that you're not going to get money on one meeting you're Pro you're not going to get money in 90 days you know it it it's going to take a little bit longer and that's okay so if you need money by a certain time frame plan for that like don't wait too long because then you're going to be stressed and that's when companies go under so plan for that time frame to give you that comfort so you can also grow your business because you're having to do both oh well sad and you know for the for the listeners here today you know if someone wants to learn more about what you're doing at geokey or follow you online uh where would you guide them towards yeah you can go to our website at geokaccess.com uh you can follow us on LinkedIn Instagram uh Facebook and I want to see our journey we've got some amazing Integrations and Partnerships uh Global Partnerships that are coming up this year we're so proud of uh we have uh some awesome opportunities coming up that you're not going to want to miss out on that's great to hear and uh Brandon really appreciate you you coming on joining us on the podcast sharing your story sharing your uh you know success story of raising 4.2 million as a Founder out in Nebraska you know it doesn't happen very often so I imagine uh you know for those out in the midwest it's great to hear these success stories because I often feel they they feel unheard or don't get as much of attention as the the founders out on the coast so really glad we got to have you on and I really appreciate you got to share your story my pleasure thanks Jason