YouSaid · the spoken record

Chad Summe

lines on the record: 65
first: 2024-01-25
most recent: 2024-01-25
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Opportunity presented itself actually during COVID. You could call us COVID babies because that's when we decided to come together and build a firm. Really it all came together somewhat providentially, never having worked together, we formed a unique team, blending a wide range of both operator experience and investment experience.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“To be true. Jumping into my next chapter, I couldn't have written it up. It was just such a fun hyper growth experience in the eight years that I was blessed to be part of it. We took the company public. We changed our name from coupons.com to Quotient Technology. And we just kept on reinventing ourselves every six months. It just gave me such an appreciation for speed and changing environments and just how fast you had to respond in the world of tech and digital.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the biggest thing was I was wired for a little faster environment. I think Procter was wonderful on my last assignment there. I was working on a North American brand where we got to restage it completely. I actually, I think my biggest fame at Proctor was I put my daughter on PAC. So she was on every size two loves diaper in America. She loves that that we walked into Walmart and saw her on the wall. It was so fun. I think what I realized is I had an entrepreneurial appetite that I really didn't exercise much in the Navy and in my first chapter at Procter. And I exercised in my last assignment. And just as we were taking the brand digital, got to see the environment of tech out in Silicon Valley that was working so closely with all of our brands, just how everything was changing, the speed of movement and the opportunity for growth, which attracted me. So I think that was the first inkling that I would really desire to be in a faster growth environment.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Incremental is a word used often at Proctor, whether it's measuring your media, what incrementality am I driving versus just talking to moms that are already buying campers. When I think incremental, I think it goes back to what I just mentioned. There's new moms coming into the category every day. And you have to earn their trust. I just was blessed to have worked on such a unbelievable brand that carries such trust with moms. And to earn that trust has to be one each and every moment that they're putting a product on their most valuable thing that they've ever had their new baby. View it as incremental as just simply waking up every day, putting your boots on, and saying, I have to do the work today because yesterday it really didn't matter”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“And to see that across such massive scales of country and language barriers was quite remarkable. So to your question, it really is an art and a science. You're only as good of what you were yesterday. You have to build that relationship with every new mom on a day-to-day basis. And you can't rest on your laurels.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“A combination of two. I mean, Proctor is really good on the machine of efficiencies of driving out cost. You have just an incredible access to scaling operations, which is something also as a gift to be exposed to early in your career of just doing things on a big amount of scale. But really the art comes in just having an appreciation for talking and engaging with consumers and really building a relationship. I shared that I spent most of my career on the baby care brands. And that's a unique dynamic. It's Proctor's biggest brand. I jokingly say, Ted, there's probably a handful of brands that translate every language in the world called McDonald's and Budweiser and Coca-Cola and Pampers is one of them. So just to get a grasp to do that at such level across so many cultures and ethnicities, it's just remarkable that you have such a tight-knit understanding of what moms care about.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Communication skills, everything at Procters, a one pager. I still try to do that to this day of just being able to concisely share your thoughts and rationale for why you have your beliefs. The people you get to work with, it sounds trite, but I think as we go through our careers, and Mike and I will share our journey, a big part of starting eGateway was this desire to be around people we wanted to build something with. I would say it's more wisdom with age, but you don't respect it probably early on, but it is Proctor is just having the opportunity to be around such quality human beings was something that I still take with me today.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Joke often and say, I just went from one uniform into the next proctor. They put on khakis and a blue shirt versus a military uniform, but it was such a formative experience for me coming out of the service where you can't rely upon all the training that I had and go into a world that's just centered on something so different at the time on the consumer. There's so much I took away from Proctor is just one big training ground. There's very few companies that have had just amazing success over 100 years of building great brands. And it was just such an opportunity to learn from so many great people, great brands, all centered around a common belief that the consumers at the center of everything. The big takeaways for me of my Procter six and a half years was just to always be the consumer first. They also taught if...”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a really good question because in the military, it's a lot of specific knowledge around what you're leading. In our case, it was a nuclear reactor and an engine room and driving a ship. And so when you walk on, you don't have a lot of knowledge at all. And you don't feel very well equipped. It's just start eating, start going in and learning very methodically, academically, and then in a practicum and going situation by situation. Over time, you start to gain confidence. The military is a unique training ground because you become unconsciously competent, more so than any experience I've had to date through a tremendous amount of preparation. You can start acting without thinking. And those are the type of environments that we were living in every day.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“You quickly learn that leadership's not a title when you're a young Ensign on a submarine commanding ahead of a division of enlisted folks that have just a tremendous amount of knowledge more than you ever have. You have to earn their respect. And to earn respect is hard work. And I think on a submarine to earn your qualifications, it's a tough environment. And it's through just doing that work every day that your ultimate ability to lead others comes from that. And so you learn quickly. It's not what rank you are. It's what you're bringing to others around.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh my gosh, I always say close the hatch for six months and you can get a lot done. I've tried to bring that experience into my civilian life. I was a young person and the most formidable experience of any person that's ever served is a higher order call and mission, which I really respect to this day. And it was such a gift to serve our nation. The submarine community, it's a small tight-knit community, so there's a lot of high stakes environments that give you places to really learn leadership early on. in high pressure situations. As a 22-year-old, 23-year-old walking on a submarine and suggesting that you have a division that's quote unquote reporting to you, they've lost more knowledge than you'll ever have. So that line and understanding of how to lead others is just ingrained to you from day one.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Chad, before we turn this over to Mike, I got to have you bring me through some of these three big steps along the way. Five years in a submarine, what do you learn most from that experience that's carried you through today?”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Chief strategy officer and serving post CPG space and retail started out digitizing promotions and went into digital media and being pioneers of what today is one of the fastest spaces in all digital media, which is retail media. So we launched some of the first media platforms for big retailers like Albertson Safeway and Dollar General and others. And it was just a really fun space to be pioneering and setting the course forward. which then brought me to eGateway in 2020, Mike and I and some other partners came together with a shared vision to really build a firm and not just a fund. That was my non-traditional route to investing.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“I definitely have taken a non traditional route. I started my career after the Naval Academy and submarines in the back of an engine room. I had a wonderful time and experience in the service. Climbed out a hatch and found myself at Procter& Gamble. I was really a formative state to understand the consumer at such a great company and the maker of big brands and spent most of my time in baby care, their biggest division around the globe marketing baby diapers, funny enough, I have a family of four. So it was very apropos. Ended up on a smaller brand that we were taking digital and really became enamored with the tech space and digital solutions that were helping brands grow and jumped into one of our partners, coupons.com and had a wonderful eight-year experience helping that company grow from a variety of different positions running sales, ultimately becoming their chief operating officer.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source
“Guest on today's sponsored insight are Chad Sumy and Mike Veith, partners at eGateway Capital, Cincinnati-based thesis-driven firm that focuses on growth stage enablement technologies that drive the future of digital supply chains, marketing, and commerce. Our conversation covers their path to creating a gateway, their investment strategy, and process. Chatta Mike highlight the firm's regional and relationship-based sourcing and value-add opportunities that benefit from the importance of the Midwest in supply chains and commerce.”
2024-01-25 · Capital Allocators · Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364) · IDENTIFIED FROM THE TRANSCRIPT · source