Michael LaVitola's guest appearances

Michael LaVitola

Tech In Chicago

Where Are They Now?

Ashish Rangnekar

Katlin Smith

Bryan Johnson

Ryan Coon

Warby Parker

Jeff Carter

Rod Rakic

David Gardner

David Rabie

Ezra Galston

Julie Novack

Tom Smith

Michael Alter

Chris McGowan

Jeff Kahn

OwlTail

Foxtrot cofounder and CEO Mike LaVitola, MBA ’14, has become expert at hearing “no.” He was not initially accepted into the New Venture Challenge, and after he talked his way in, his team did not make the finals. Despite steady revenue, it took years to put together a seed round.But LaVitola remained committed to his idea of a reimagined convenience store, with curated locally-made products that could be ordered online for delivery on demand.The ecommerce model soon evolved to include physical stores after Foxtrot’s first distribution warehouse, in the West Loop, became a community gathering place and organic marketing for the brand.“People were in and having an espresso in the morning and taking meetings there and grabbing wine after work, and it just became this total embodiment for the brand,” LaVitola said.Chicago-based Foxtrot in February announced a $45 million Series B round. It has eight stores in Chicago, two in Dallas and two in Washington, DC, with plans to double its store count this year. It is also recently launched nationwide shipping.In this episode, LaVitola speaks with Waverly Deutsch, a professor of entrepreneurship at Chicago Booth and academic director of University-wide entrepreneurship content. She was on the committee that initially rejected Foxtrot’s NVC application.

Foxtrot cofounder and CEO Mike LaVitola, MBA ’14, has become expert at hearing “no.” He was not initially accepted into the New Venture Challenge, and after he talked his way in, his team did not make the finals. Despite steady revenue, it took years to put together a seed round. But LaVitola remained committed to his idea of a reimagined convenience store, with curated locally-made products that could be ordered online for delivery on demand.The ecommerce model soon evolved to include physical stores after Foxtrot’s first distribution warehouse, in the West Loop, became a community gathering place and organic marketing for the brand.“People were in and having an espresso in the morning and taking meetings there and grabbing wine after work, and it just became this total embodiment for the brand,” LaVitola said.Chicago-based Foxtrot in February announced a $45 million Series B round. It has eight stores in Chicago, two in Dallas and two in Washington, DC, with plans to double its store count this year. It is also recently launched nationwide shipping.In this episode, LaVitola speaks with Waverly Deutsch, a professor of entrepreneurship at Chicago Booth and academic director of University-wide entrepreneurship content. She was on the committee that initially rejected Foxtrot’s NVC application.

Michael LaVitola (Foxtrot) & Waverly Deutsch

Michael LaVitola is the CEO and Founder of Foxtrot, a startup that could be thought of as a curated cornerstore with on-demand delivery. It is basically what you imagine your ideal convenience store would look like with an in store cafe and a ton of super cool beer, wine, food, gifts, and basic necessities.  Use code "ab079e" for $10 off your first order In This Episode You Will Learn:  Why Michael decided to start Foxtrot What the first version of the product looked like Why they moved away from on demand to retail Why they splurged on pricey retail spots Why they will be having a coffee bar in all their stores going forward How they curate the products they stock What are their best selling and weirdest products What Michael thinks of Amazon's acquisition of Whole Foods What the future of retail looks like How they plan to differentiate themselves from Amazon's offerings Why it is important to know who your ideal investor really is  Selected Links From The Episode:  New Venture Challenge Craig Wortmann, Professor at Northwestern Kellogg Eater  Favorite Books:  Shoe Dog: A Memoir by the Creator of Nike by Phil Knight Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer Steve Jobs by Walter Isaacson 

<a href="https://www.linkedin.com/in/michael-lavitola-92a3ab1b/" rel="nofollow" target="_blank">Michael LaVitola</a> is the CEO and Founder of <a href="https://foxtrotco.com/" rel="nofollow" target="_blank">Foxtrot</a>, a startup that could be thought of as a curated cornerstore with on-demand delivery. It is basically what you imagine your ideal convenience store would look like with an in store cafe and a ton of super cool beer, wine, food, gifts, and basic necessities.  Use code "ab079e" for $10 off your first order In This Episode You Will Learn: <ul> <li>Why Michael decided to start Foxtrot</li> <li>What the first version of the product looked like</li> <li>Why they moved away from on demand to retail</li> <li>Why they splurged on pricey retail spots</li> <li>Why they will be having a coffee bar in all their stores going forward</li> <li>How they curate the products they stock</li> <li>What are their best selling and weirdest products</li> <li>What Michael thinks of Amazon's acquisition of Whole Foods</li> <li>What the future of retail looks like</li> <li>How they plan to differentiate themselves from Amazon's offerings</li> <li>Why it is important to know who your ideal investor really is</li> </ul> Selected Links From The Episode: <ul> <li><a href="https://research.chicagobooth.edu/nvc" rel="nofollow" target="_blank">New Venture Challenge</a></li> <li><a href="https://www.linkedin.com/in/craigwortmann/" rel="nofollow" target="_blank">Craig Wortmann</a>, Professor at Northwestern Kellogg</li> <li><a href="https://www.eater.com/" rel="nofollow" target="_blank">Eater</a></li> </ul> Favorite Books: <ul> <li><a href="http://amzn.to/2cjmkor" rel="nofollow" target="_blank">Shoe Dog: A Memoir by the Creator of Nike</a> by Phil Knight</li> <li><a href="http://amzn.to/2sZ0euv" rel="nofollow" target="_blank">Setting the Table: The Transforming Power of Hospitality in Business</a> by Danny Meyer</li> <li><a href="http://amzn.to/2hDBYv8" rel="nofollow" target="_blank">Steve Jobs</a> by Walter Isaacson</li> </ul>

Creating the Next Corner Store in the Age of Amazon - Michael LaVitola / Founder of Foxtrot