717: Sam Ellis | Leading in Tech Innovation by Loving the Game

Sam Ellis understood early on that the people who lead the technology space as entrepreneurs are the ones who are obsessed with their craft. Sam Ellis is an early stage software VS who studied Research and Applied Statistics at West Point.
He served as an Army intelligence officer at U.S. Cyber Command, where he was a software developer and an intelligence leader. Sam went on to be a co-founder of Dutchie, where he developed the first version of the industry-leading online cannabis marketplace software. Sam is now a partner at Scout Ventures, leading SaaS pre-seed, seed, and incubation deals.
With a portfolio like that, there’s no one better to learn how to lead (and invest) in technological innovation by loving the game and aiming to win big. 

Things you will learn in this episode:
[00:01 - 08:37] Opening Segment 

I introduce today’s guest, Sam Ellis

Sam gives his background 

How Sam’s strict upbringing instilled discipline 

Enlisting after 9/11

The blessing of being pushed in self-development 

The benefits of fitness on your career 

[08:38 - 23:56] Leading in Tech Innovation by Loving the Game

Sam talks about why he went into entrepreneurship

Agency and expression - humans need expression 

Autonomy to create something beautiful 

Sam shares his experience in college and his next steps after graduating

Enjoying the intellectual challenge and rigor 

Craving for more applied practice of the education

How coding and programming came into play 

Coding in his spare time instead of catching up on Netflix

You need to love the game 

Schooling can be great, but it’s not the prize

At some point, you learn how to learn 

What’s missing in today’s education 

Emotional regulation and sophistication 

The start of Sam’s first venture, Dutchie 

A quick word from our sponsor

[23:57 - 38:37] How to Build a Scalable Business

The building process of Dutchie 

How his partners utilized their strengths 

Operate at a competitive advantage 

Find some friction - solve the problem 

Dealing with the pushbacks 

Plan for success 

The mindset is we’re here to win

Defining your win 

Ex: being the biggest company in your space 

Focus on an abundance mindset 

Sam talks about his work with Scout Ventures 

Pivoting into investing 

Building up other entrepreneurs

Looking into the future of technology 

Tech begets tech 

More capital is going into leveraged value creation 

Start looking at emerging regions 

Look for the visionaries 

[38:38 - 40:05] Closing Segment 

Who you know or what you know? 

Who not how 

Entrepreneurs need to understand people 

How to connect with Sam

Links below 

Final words 

 
Tweetable Quotes: 
“Being an entrepreneur is all about endurance. It’s all about just showing up every single day; it’s showing up for every single mile, just getting it done… Even when it’s a bad deal” - Sam Ellis

“That’s one of the ways I spot engineers who are passionate and great. It’s those people who care enough to understand the leading edge of technology, care enough about their craft… they love the game.” - Sam Ellis

“We’re not thinking and planning for anything but success… The mindset is we’re here to win!” - Sam Ellis

Resources Mentioned: 

Scout Ventures Blog

 
Want to connect with Sam? You can follow him on Twitter and LinkedIn. If you are in the early stage of your business and know you have massive potential, check out https://www.scout.vc/ and see if you’re a fit. 
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