In this episode, Scott Kelly, Founder and CEO of Black Dog Ventures, shares what actually separates founders who build real companies from those who stay stuck chasing capital. He talks openly about why fundraising is often mistaken for progress, why execution beats ideas every time, and why many startups fail not because of the market—but because founders don’t know when to let go, delegate, and lead.

Scott breaks down what investors really look for, how trust is built long before money is involved, and why consistent momentum matters more than a perfect plan. He explains how strong teams are formed, why most founders underestimate the cost of doing everything themselves, and how small wins every two weeks compound into real traction.

As technology makes it easier for anyone to build, Scott shares what still creates a true edge: relationships, credibility, and the willingness to keep moving forward when the answer is “no.”

This conversation pulls back the curtain on venture, leadership, and what entrepreneurial excellence really looks like when the cameras are off.

Key Topics:

- Fundraising as a false signal of entrepreneurial success

- Execution and delegation as the real drivers of scale

- Trust and relationships as the foundation of venture outcomes

- Traction over storytelling in winning investor confidence

- Leadership built on humility, learning, and momentum

Quote From The Episode:

“Most entrepreneurs shouldn’t be raising money. They should be building their business.”

- Scott Kelly

Timestamp:

[00:20] Fundraising Is a Vanity Metric—and Most Founders Get Excellence Wrong

[11:09] Real Founders Let the Market Decide Instead of Scaling Too Early or Chasing Capital

[20:58] How Relationship Capital Turns Simple Coffee Meetings Into Eight-Figure Deals

[29:58] Trust Is the Ultimate Advantage in Venture—and the Fastest Way to Control Deal Flow

[40:12] Winning Investors Without Raising Money: The Power of Relentless Progress Updates

[50:18] The Founders Who Win Every Two Weeks Obsess Over Time, Delegation, and Speed

[1:01:24] Building Defensible Moats in a World Where AI Makes Everyone Equal

[1:13:25] Outro

Connect with - Scott Kelly:

LinkedIn - linkedin.com/in/blackdogceo

Websites -blackdogventurepartners.com facebook.com/blackdogventurepartners/

Connect to Entrepreneurial-Excellence Podcast:

LinkedIn - https://www.linkedin.com/company/entrepreneurial-excellence-podcast

Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod

TikTok - https://www.tiktok.com/@eepodcast24

Facebook - https://www.facebook.com/profile.php?id=61570329516959

Website - https://www.levy.company/entrepreneurial-excellence