Steve Cody

Founder, New Ventures · 1 appearance on the record.

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founderexecutiveoperator

Steve Cody is an Ottawa-based serial entrepreneur who has built over a dozen companies spanning rental services, franchise operations, and software, most notably The Better Software Company (B-Pro) and rental platform Ruckify. After venture capital investors ousted him from The Better Software Company, he partnered with Bruce Linton to reacquire its assets.

9statements → 7claims → 1claims resolved → 3.78/5average certainty → 1.33/5average debate potential →

0 supported 0 partly supported 1 contradicted 6 not checkable as stated how the 7 claims stand · each chip opens the sources

7 assertions · 2 disclosures · every statement was checked. The predictions and assertions are the 7 claims: statements the public record can support or contradict. 1 is resolved, and 6 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Steve argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable contradicted claim

Assertion Contradicted
The Better Software Company initially raised $9.8M in venture capital
“We raised about 9.8 million through VCs.”
Steve Cody Apr 1, 2020 ▶ 8:15 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Steve Cody on measured tape to publish a rate. This says nothing about how they speak.

Everything Steve Cody said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Assertion Not checkable as stated
VCs blocked Steve Cody from firing a leadership team executive
“There was one person on our team that I thought should leave the team that was in a leadership position. The VCs wouldn't let me get rid of them.”
Steve Cody Apr 1, 2020 ▶ 9:31 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Assertion Not checkable as stated
VC investors took a loss when Steve Cody repurchased his company
“Yeah, they, yeah, they took a loss.”
Steve Cody Apr 1, 2020 ▶ 8:59 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Disclosure
The Better Software Company began as an internal operating tool
“And the software we had created was always our competitive advantage, and when we started looking for something in franchising, we couldn't find anything, so we said, well, let's just modify ours so that we can start franchising with it”
Steve Cody Apr 1, 2020 ▶ 3:42 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Disclosure
The Better Software Company charges $100 to $250 per location
“The price will range between a hundred per location to 250 per location, and what we've done is we allow a person to have unlimited users”
Steve Cody Apr 1, 2020 ▶ 5:34 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Assertion Not checkable as stated
The Better Software Company has scaled to 4,000 franchise locations
“We've got about 4000 on there right now.”
Steve Cody Apr 1, 2020 ▶ 7:09 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Assertion Contradicted
The Better Software Company initially raised $9.8M in venture capital
“We raised about 9.8 million through VCs.”
Steve Cody Apr 1, 2020 ▶ 8:15 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Assertion Not checkable as stated
The Better Software Company grew sales 55% after founder's buyback
“We've grown sales 55% since we took it back.”
Steve Cody Apr 1, 2020 ▶ 11:09 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Assertion Not checkable as stated
Monthly churn dropped from 7% to 3.2% after the company buyback
“When we took the company back, churn was at about seven percent, and I think now we're sitting at about 3.2%.”
Steve Cody Apr 1, 2020 ▶ 13:07 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Assertion Not checkable as stated
Targeting multi-location franchises reduced customer acquisition costs to $300
“When we kind of dug into it, what we found is any customer that had more than three employees did more than 350,000 dollars a year, had more than one location or had to manage inventory. They didn't turn as much. So we were able to take that and drive the CAC.…”
Steve Cody Apr 1, 2020 ▶ 15:48 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

Appearances (1)

EpisodeDateSpeaking time
1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How? Apr 1, 2020 9m
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