Cory Levy raised more than $1 million in funding from investors to start his company, One, when he was just 19 years old.
The app is still linking college students with similar interests from at least 20 campuses, including Yale, Princeton, and Harvard, nearly five years after its launch.
Not only is Levy the company’s chief operating office, he is the founder of Silicon Valley’s NextGen conference. The goal of the conference is to connect future startup founders and veteran entrepreneurs.
In an interview on Wework's Creator channel, Levy shared a few of the secrets that helped him raise $1 million for his business at the young age of just 19.
Make it about more than money.
Levy reflects on the time when he set off to San Francisco, a time when raising money wasn’t on his mind. He was looking for ways to grow the company. He asked for advice from venture capitalists and entrepreneurs, and they kept asking if he was raising money for his business. When he repeatedly told them that he wasn’t, he would hear the same response: why not?
It surprised Levy that he could come to people seeking advice and instead, people actually wanted to give money. He realized that when you ask for advice, people give you money, and when you ask for money, people give you advice.
Show people that you appreciate their wisdom and you will win them over.
Surround yourself with people who are more intelligent that you.
Levy says that a key to success is to surround yourself with the smartest people. Enjoy the company of people you aspire to be like so you can one day become one of your heroes.
Levy followed this rule religiously when building his startup. It was his team’s main reason for setting up shop in San Francisco - he recognized it was vital to move out of the Midwest.
Get your hands dirty.
Levy is one of the people around the U.S. that questioned whether college, and the student loans that accompany it, are worth it. His controversial decision to pursue his business and bypass college business courses isn't the most common path for a person his age -- but he was willing to work to make up for it.
He compares business to playing a sport and says that you can learn a playbook or attend class until you have memorized every detail of a play or textbook. It’s the field where you really excel. Until you have played a sport or ran your own business, it’s tough to study the playbook or attend class and remain engaged.
Levy’s advice is different than what many entrepreneurs share because it’s effective. His message is straightforward and it delivers results – and it’s applicable in other areas of life, too.
Rod Turner
Rod Turner is the founder and CEO of Manhattan Street Capital, the #1 Growth Capital service for mature startups and mid sized companies to raise capital using Regulation A+. Turner has played a key role in building successful companies including Symantec/Norton (SYMC), Ashton Tate, MicroPort, Knowledge Adventure and more. He is an experienced investor who has built a Venture Capital business (Irvine Ventures) and has made angel and mezzanine investments in companies such as Bloom, Amyris (AMRS), Ask Jeeves and eASIC.
www.ManhattanStreetCapital.com
Manhattan Street Capital, 5694 Mission Center Rd, Suite 602-468, San Diego, CA 92108.