Company Stats

• Capital Raised $5.5 million

Episode Highlights

✅ The construction industry faces a workforce crisis with 41% retiring in the next seven years.

✅ Learning from failure is crucial for success; success can be a misleading teacher.

✅ Building a synchronized, complementary team is essential for startup success.

Episode Summary

In this episode of "Failing to Success," we welcome Shreesha Ramdas, the CEO of Lumber, a startup focused on construction workforce management. Shreesha shares how Lumber raised $5.5 million in a seed round to address the critical workforce crisis in the construction industry. With 41% of workers set to retire in the next seven years and younger workers not entering the industry at the same pace, Lumber aims to tackle this significant challenge. Shreesha discusses the lessons learned from his previous startups, emphasizing the importance of viewing failure as data and the necessity of building a synchronized team. His insights into maintaining velocity during uncertain times and iterating to solve problems offer valuable guidance for entrepreneurs.

Chapters

00:00 Intro

00:13 Company Stats

00:31 Challenges in the Construction Workforce

01:40 Lessons from Previous Startups

05:36 Building a Strong Team

07:22 Connecting with Lumber