Love the Almighty Shovel: Interview with Kass and Mike Lazerow, Co-Founders of Golf.com

I recently spoke to Kass and Mike Lazerow. Kass and Mike are married serial entrepreneurs and investors best known as the cofounders of Golf.com (sold to Time Warner in 2006) and Buddy Media (sold to Salesforce in 2012 for $745 million). They went on to become angel investors and advisors to Facebook, Scopely (sold to Savvy Games for $5 billion in 2022), Liquid Death, and Tumblr, and today focus on providing capital and advice to early-stage founders. Kass and Mike are the authors of Shoveling $h!t: A Love Story.

Adam: Thanks for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?

Mike: Our journey began as friends growing up in the suburbs of the nation’s capital. We started dating after reuniting at a mutual friend’s wedding in 1996. Two years later, we did what all new couples deeply in love do – cofounded a company, Golf.com, before marrying in 1999! After selling Golf.com to Time Inc. in 2006, we cofounded Buddy Media. Since selling Buddy Media to Salesforce in 2012, we have focused on providing capital and advice to the world’s most innovative founders and helping as many entrepreneurs as we can.

Kass: I launched Golf.com in September 1998 as not only a website, but syndicated content that empowered golfers with the tools to track and analyze their games. Less than a year later, we closed an all-stock deal to be acquired by Chipshot.com, located in Sunnyvale, CA and who was planning to go public in the spring of 2000. In March of 2000, we were told that Sequoia had pulled out of their deal; they would not be going public, but rather going bankrupt and taking us with them. 

Most of the angel investors in Golf.com were our family members and close colleagues, so everyone lost their investment in us, all in all, totaling $1.5 million. Three months later, we restarted the company, raising $3 million in fresh capital and spending the next five (exhausting) years building the largest golf-focused internet media company at the time while simultaneously building our new marriage and a young family that soon included the first two of our three kids.

Mike: We have learned the most from Golf.com and our initial failure. If you want to succeed with a business idea, you have to recognize that there will be very long hours and an endless to-do list that creates tension in your health, your family relationships, and your friendships. So if things seem too quiet, look around for the crap that’s either already there or on its way.

As entrepreneurs, you have a life full of highs and lows that come with sacrifices that often make the wins feel less good. Looking back, we both wish we had celebrated the wins more and been more proactive about addressing the lows.

Through these challenges, we’ve learned the importance of self-care. Do whatever you can to make time to care for yourself, mind, body, and soul. If you’re broken, the company will be broken.

Adam: How did you come up with your business ideas and know they were worth pursuing? What advice do you have for others on how to come up with and test business ideas?

Kass: We have a keen eye for spotting trends early. With Buddy Media, we capitalized on the growing importance of social media for brands, creating a platform that helped companies manage their social media presence effectively.

1. Validating Ideas: Before fully committing, we tested ideas through research, pilot projects, or by seeking feedback from potential customers. This validation process helps ensure that there is a genuine demand for the product or service.
2. Passion and Expertise: We pursued ideas that aligned with our interests and expertise, which not only fueled our passion but also gave us a competitive edge. Our personal interest in golf and understanding of digital media were crucial in the success.
3. Calculated Risk-Taking: We are known for our willingness to take calculated risks. 

By combining market insight, trend analysis, validation, passion, and a willingness to take risks, we identify and pursue business ideas that have the potential for significant impact and success.

Mike: 

1. Identify Problems and Needs: Start by observing the world around you. Look for problems that need solving or unmet needs in your community or industry. Great business ideas often stem from addressing these gaps.
2. Leverage Your Passions and Skills: Consider your own interests and expertise. Ideas that align with your passions are more likely to keep you motivated, and leveraging your skills can give you a competitive advantage.
3. Research and Trend Analysis: Stay informed about industry trends and emerging technologies. Understanding where the market is heading can help you identify opportunities that others might overlook.
4. Brainstorm and Ideate: Engage in brainstorming sessions, either alone or with a diverse group of people. Encourage wild ideas and think outside the box. Sometimes, the most unconventional ideas lead to the most innovative solutions.
5. Validate Your Ideas: Before diving in, test your ideas with potential customers. Conduct surveys, interviews, or create a minimum viable product (MVP) to gather feedback. This validation process helps ensure there is a real demand for your solution.
6. Prototype and Iterate: Develop a prototype or a simple version of your product or service. Use this to test your assumptions and gather user feedback. Be prepared to iterate and refine your idea based on what you learn.
7. Assess Feasibility and Scalability: Consider the practical aspects of your idea. Evaluate the resources required, potential challenges, and scalability. Ensure that the idea is not only viable but also has the potential for growth.
8. Seek Mentorship and Advice: Connect with mentors, advisors, or industry experts who can provide guidance and insights. Their experience can help you refine your idea and avoid common pitfalls.

Adam: What were the key steps you took to grow your businesses? What advice do you have for others on how to take their businesses to the next level?

Mike:

1. Clear Vision and Strategy: We started with a clear vision of what we wanted to achieve and developed a strategic plan to guide their growth. This involved setting specific goals and identifying the steps needed to reach them. Then, focus, focus, and more focus.
2. Customer-Centric Approach: We prioritized understanding customers’ needs and delivering exceptional value. By focusing on customer satisfaction and feedback, we were able to refine their offerings and build a loyal customer base.
3. Scalable Systems and Processes: To support growth, we implemented scalable systems and processes. This included investing in technology and infrastructure that could handle increased demand and streamline operations.
4. Effective Marketing and Branding: We invested in marketing and branding to increase visibility and attract new customers. This involved leveraging various channels, such as digital marketing, public relations, and strategic partnerships.
5. Innovation and Adaptability: We embraced innovation and were willing to adapt to changing market conditions. We continuously sought ways to improve their products and services, staying ahead of competitors.
6. Strategic Partnerships and Networking: We built strategic partnerships and expanded our network within the industry. Collaborating with other businesses and influencers helped us reach new audiences and gain credibility.
7. Data-Driven Decision Making: We used data and analytics to inform their decisions, ensuring we were making informed choices based on real insights rather than assumptions.
8. Focus on Culture and Values: We cultivated a strong company culture that aligned with our values and mission. A positive culture not only attracts top talent but also fosters employee engagement, productivity, and retention.
9. Financial Management and Fundraising: We managed finances carefully, ensuring we had the resources needed to support growth. This included strategic fundraising efforts to secure the capital necessary for expansion.

Adam: What is your best advice on building, leading, and managing teams?

Kass: 

• Recognize the importance of talent early (from the first hire), focus on assembling a team of skilled and passionate individuals who share your vision. A strong team is crucial for executing the business strategy and driving growth.
• You can only be good/great at one thing at a time.
• You must always moneyball—not only hire the right people at whatever stage you’re in, but also field them in their optimal position.
• Cultivate a positive cult every day and in everything you do—during recruiting, team events, communication, etc.
• Choose your partner as carefully as you would your spouse, because who you start a business with is often more important than what the business does to start. It is easier to change business models than cofounders. 
• Your job as the founder is to lead by example, including making hard and often unpopular decisions.
• In the beginning, act bigger than you are because perception is reality.
• When your company needs a change, you have three options: Continue doing what you’ve been doing, fold your business, or pivot. Be flexible and open to change. If your initial idea doesn’t work out as planned, be willing to pivot and explore new directions based on the feedback and data you gather.

Adam: What did and do you look for in companies you invest in?

Mike: We look for a strong founding team, an innovative scalable idea, market potential (few companies have been successful in small markets), is there a competitive advantage, evidence of traction and validation, a clear business model, alignment with our values, demonstrated adaptability and resilience in the face of challenges, a clear and ambitious vision for growth, and companies that have the potential to make a positive impact, whether through innovation, social responsibility, or environmental sustainability. 

Adam: What do you hope readers take away from your new book?

Kass:  We hope our candid and insightful account of our experiences will equip readers with the knowledge, inspiration, and confidence needed to embark on their own entrepreneurial paths. Ultimately, we want readers to feel empowered and motivated to pursue their entrepreneurial dreams, explore new ideas, and take calculated risks. The book serves as a source of encouragement and lessons, and a reminder that they are not alone in their journey. 

1. Realities of Entrepreneurship: We aim to provide an honest look at the entrepreneurial journey, highlighting both the challenges and rewards. Readers should understand that success often involves navigating failures and setbacks.
2. Lessons from Experience: We hope readers gain practical lessons that can be applied to their own ventures. These insights are meant to guide and inspire entrepreneurs at all stages.
3. Resilience and Perseverance: We want to emphasize the importance of resilience and perseverance. We hope readers are encouraged to keep pushing forward, even when faced with obstacles and uncertainty.
4. Value of Culture and Vision: We stress the significance of building a strong company culture and having a clear vision. Readers should recognize how these elements contribute to long-term success and sustainability.
5. Encouragement to Innovate: We hope to inspire readers to think creatively and embrace innovation. 

Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?

Mike: 

• Be willing to hustle and work hard. Thriving as an entrepreneur starts with learning to love the almighty shovel. Only those truly in love with shoveling will endure the crap needed to earn the money.
• Focus, and then focus some more, and then focus more after that. Knowing what to focus on to survive, especially in the first yea,r is critical for success.
• Know what you don’t know and hire those around you to fill in your gaps.

Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?

Kass: An effective leader has a clear vision for the future and can inspire others to work towards it. They set a direction and motivate their team to achieve common goals. They possess strong emotional intelligence, allowing them to understand and manage their own emotions and empathize with others. This helps in building strong relationships and fostering a positive work environment. Effective leaders are decisive and able to make informed decisions quickly. They weigh the pros and cons and take responsibility for the outcomes. They demonstrate integrity and honesty in their actions and decisions, and they are radically transparent. This builds trust and credibility with their team and stakeholders. They are adaptable and open to change, able to pivot strategies when necessary. This flexibility allows them to navigate challenges and seize new opportunities.

Adam: What is the single best piece of advice you have ever received?

Mike: Embrace failure as a learning opportunity: viewing setbacks not as defeats but as valuable experiences that provide insights and drive growth. By adopting this mindset, entrepreneurs can remain resilient, continuously adapt, and ultimately achieve success despite the inevitable challenges they face.

Adam: Is there anything else you’d like to share?

Kass: DM us on Instagram or contact us on our website.