TK Petersen- How to Raise $5 Million To Fund Your Idea
“A great deal is where both parties are slightly unhappy”
-TK Petersen
TK Petersen @SpotOnTK is a business owner, entrepreneur, and the Co-Founder of the creative space the Gathering Spot. A graduate from Goergetown university and also a member of Omega Psi Phi, TK is one of the most innovative people I know. TK and his business partner had an idea and turned it into a tangible product in the matter of a couple years creating the Gathering Spot, a private, members-only modern city club that brings together a motivated and diverse community of professionals, creatives and entrepreneurs.
During their tenure they were able to raise $5 Million dollars to fund their idea and have been able to connect with influencers all across the nation. He has been mentioned on Forbes, Creative Loafing, Atlanta Business Chronicles, AJC, and much more.
In this interview we cover:
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How to be an entrepreneur
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What Creativity is
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How to be a skilled negotiator
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How to raise money for your idea
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How to make deals
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The most important characteristics you need to run a business
Enjoy!
Connect with TK Petersen
https://thegatheringspot.club/
Show Notes
1:40 – Start of interview
2:44 – TK describes what The Gathering Spot is
3:42 – TK talks about the “always be creating” shirt
4:40 – TK talks about what creativity means
5:41 – TK talks about where he’s from
6:45 – TK talks about his first time in the U.S.
8:05 – TK talks about his parents
9:25 – TK talks about his time at Georgetown
11:03 – TK talks about creating a community of like minded individuals
14:49 – TK talks about what sparked his business
17:04 – TK talks about what his mom taught him
19:56 – TK talks about times when he wasn’t prepared
21:35 – TK talks about networking
24:03 – TK gives networking tips
25:22 – TK talks about hiring people at The Gathering Spot
26:31 – TK talks about becoming an entrepreneur
28:56 – TK talks about how The Gathering Spot started
32:14 – TK talks about raising capital for The Gathering Spot
32:48 – TK talks about pitching to investors
34:31 – TK explains covenants
35:15 – TK talks about what to look for in an investor
38:46 – TK talks about how often to check in with investors
40:04 – TK talks about how he found his first investor
40:28 – TK talks about The Gathering Spot being invite only
44:14 – TK talks about handling rejection from investors
45:55 – TK talks about negotiating
47:02 – TK talks tips for making deals
49:41 – TK talks about being business partners with a friend
51:57 – TK talks about handling disputes between business partners
54:29 – TK talks about his biggest business challenges
58:10 – TK talks about what made demand for The Gathering Spot so high
1:02:07 – TK talks about how he has connected with certain notable figures
1:03:10 – TK talks about important characteristics to run a business
1:05:13 – TK talks about what he would do if he knew he couldn’t fail
1:05:50 – TK talks about what he would do with 50 million dollars if he couldn’t spend it on himself or his business
1:06:29 – TK talks about books that have impacted his life
1:08:33 – TK talks about his morning routines