In this episode of the Play Big Faster Podcast, host Scherrie L. Prince is joined by Peter Bonney, CEO and founder of VendorFool. After spending 13 years in finance as an investment manager, Peter made a bold career pivot approaching 40 to pursue his passion for technology. Now leading a SaaS platform designed to simplify and accelerate complex engagements between B2B buyers and sellers, Peter shares candid insights about his entrepreneurial journey, the evolution of procurement technology, and how his companies are transforming the way businesses handle complex commercial transactions. From observing portfolio companies waste millions on rushed purchases to creating innovative solutions, Peter’s story is full of valuable lessons about embracing failure, getting started before perfection, and the transformative impact of AI on business operations.
Episode Highlights/Topics:
- Peter’s 13-year background in finance and his transition to tech entrepreneurship approaching 40
- How observing portfolio companies struggle with procurement decisions inspired his business solution
- The often-overlooked importance of improving buying processes versus focusing solely on sales
- How VendorFool streamlines the RFP process and frees up sellers to focus on higher-value activities
- Peter’s insights on AI as a transformative force comparable to the internet’s impact
- The evolution of technology tools from automating repetitive tasks to enabling higher-value work
- Key lessons from building and exiting his first startup and launching his current ventures
- Peter’s practical advice for entrepreneurs: “Don’t wait for perfection” and “Embrace failure”
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