Saturday, April 18, 2015

Kevin Castello talks about Best Fit Capital

Kevin Castello talks about Best Fit Capital

Where are you from originally? 

I was born in San Angelo Texas.

What university did you go to?

I have an undergrad from Austin Graduate School of Theology and a MBA from Baylor University.

What brought you to Austin?

My family moved here in 1984 so I have witnessed some of the tremendous change the Austin area has seen in the last 30 years.

What is your group’s mission?

Best Fit Capital seeks to help entrepreneurs know which type of investment capital, investor, and process is the best fit for their goals.  I want entrepreneurs to understand what the implications of investment capital are and to be comfortable with the expectations of the investors.

What need does it fulfill?

There are many potholes on the entrepreneurship road and I want to help entrepreneurs avoid the ones related to funding their venture.  No entrepreneur would launch a venture without strategies for development/marketing/sales but many do so without a proper capital strategy.

What exactly does it bring to startups?

BFC helps start-ups to align investment types with their personal goals and to keep it aligned through their end game.

What type of startup would benefit from your group?

BFC wants to help all entrepreneurs in this area.  We offer seminars to allow those with very little capital to get the proper educational information to avoid some of the major issues.  We also offer dedicated consulting to those who are ready for an objective viewpoint during the venture.  BFC wants to be a long term partner with the entrepreneur to help them protect and grow their venture to see their dreams come true.

What was the most challenging aspect of starting up the initiative?

It is entrepreneurial just like any other start-up.  I have left the comfort and stability of a job to pursue my own goals.  I want to see entrepreneurs achieve their goals and get the funding they need but not take capital they don’t need.

What advice do you have for entrepreneurs?

Boot-strap your venture as long as you are able and it is strategically wise to do so.  Once you know you are going to need to raise money then prepare, execute and close your raise.  “Maybe” is the worst thing you can hear from investors as it strings you along.  Make it easy for investors to be able to make a quick, quality yes or no decision so everyone can keep moving.

What Austin-based resource have you found to be the most helpful and why?

The entrepreneurial ecosystem itself.  There are so many resources in Austin:  Capital Factory, Tech Ranch, CTAN, Texas Entrepreneur Network, SKU, professional services, other entrepreneurs and mentors.  Each serves a different entrepreneur in a different circumstance.  It is the accumulation of all of it which makes Austin exciting!