LIVE - April 9, 2026 | Halladay Lecture Series - Trevor Larson

Class Overview and Final Details

Class Participation and Points

• The instructor encourages students to raise their hands if they have successfully entered the code for class participation.

• Students inquire about the points needed for an A in the class, with a mention of a final exam that will be posted soon, which is worth five points.

• Extra credit opportunities are available through watching videos or completing the Student Rating of Instruction (SRI).

Final Class and Extra Credit Opportunities

• This session marks the last in-person class; future classes will feature recorded lectures from previous speakers.

• Students can still improve their grades by submitting notes from missed lectures for reduced points.

Introduction of Guest Speaker: Trevor Larson

Background on Trevor Larson

• Trevor Larson, co-founder and CEO of Nectar HR, shares his background as a former student in this classroom eight years ago.

• He graduated with a degree in business management from Utah Valley University and has three children.

Personal Insights

• Trevor emphasizes that faith, family, and relationships are what matter most to him.

• He shares anecdotes about his children’s activities, highlighting their personalities and family life.

Engagement Activity: Two Truths and a Lie

Icebreaker Game Introduction

• At Nectar HR, new team members introduce themselves using "two truths and a lie" during company meetings to foster connections.

Trevor's Statements

• Trevor presents three statements about himself: pitching in a state championship baseball game, being allergic to cold temperatures, and missing two teeth.

• He invites students to guess which statement is false.

Reveal of the Lie

• The first statement is revealed as the lie; he did not pitch in the state championship but did play baseball.

• He discusses his rare condition causing hives due to cold exposure and mentions having two molars that never grew in.

My Journey from Student to Entrepreneur

Early Experiences and Influences

• The speaker shares their background as a UView student, graduating in 2018, and mentions using notes from lectures, specifically referencing Mark Newman, who became their first investor.

• Mark Newman is highlighted as the founder of Nome Health and HireVue, with the latter selling for $600 million. The speaker initially pursued a pre-dental path while majoring in biology.

Navigating Career Uncertainty

• The speaker empathizes with students uncertain about their career paths or majors, acknowledging that it's normal to feel unsure about such significant decisions.

Startup Journey: From Failure to Success

• While at UVU, the speaker founded a startup called Perk Now that ultimately failed but later pivoted into Nectar in 2020 amidst the COVID-19 pandemic.

• After launching Nectar during a tumultuous time, they received an acquisition offer of $45 million but chose to continue building the company instead.

Key Milestones and Customer Acquisition

• MLB was one of Nectar's first customers; they were drawn in by the company's recognition rewards program after thorough research on competitors.

• During an interview for their first sales rep position, Nectar secured MLB as a client unexpectedly, leading to excitement among the small team present.

Company Mission and Values

• Over the years, Nectar has raised over $50 million in venture capital and faced numerous challenges including cybersecurity threats that resulted in significant financial losses.

• The mission of Nectar is centered around making employees feel valued at work; studies show many people feel undervalued despite spending most of their waking hours at work.

• The goal is to transform workplace cultures so that individuals feel appreciated for their contributions within their teams or "tribes."

Personal Reflections on Entrepreneurship

• The speaker reflects on how their journey began with mobile car detailing services while attending college and highlights early entrepreneurial experiences.

Vivint's Employee Perks and Career Journey

Vivint's Work Environment and Employee Benefits

• Vivint, a major employer in Utah Valley, had around 3,000 to 4,000 employees and offered significant perks like meal tickets for food trucks and discounts at various local businesses.

• The speaker leveraged these employee perks by providing mobile car detailing services on-site, which allowed them to earn good money while maintaining flexibility with their school schedule.

Transition to Qualtrics

• The speaker noted the lack of B2B software presence in their hometown of Mesa, Arizona, contrasting it with the booming tech scene in Utah around 2014-2015 led by companies like Qualtrics.

• After detailing cars for Qualtrics employees, Ryan Smith expressed interest in hiring the speaker for a sales role due to their entrepreneurial spirit and innovative approach.

Sales Development Role at Qualtrics

• The speaker transitioned into a Sales Development Representative (SDR) role at Qualtrics after receiving an informal job offer from Ryan Smith.

• SDR responsibilities included making numerous cold calls daily to set appointments for Account Executives; this role was described as challenging but educational.

Discovering Passion for Software

• The work environment at Qualtrics was vibrant and engaging, featuring amenities like dogs in the office and free snacks, which captivated the speaker’s interest in the software industry.

• This experience solidified the speaker's desire to pursue a career within the software sector.

Entrepreneurial Venture: Perk Now

• Inspired by experiences as a vendor offering employee perks, the speaker identified gaps in how companies communicated available benefits to employees.

• They launched "Perk Now," a mobile app designed to consolidate employee perks into one accessible platform. Despite initial challenges with naming and concept viability, they aimed to improve perk accessibility.

Growth and Validation of Business Idea

• Efforts included door-to-door outreach to onboard vendors while tracking user engagement metrics; early traction was achieved through customer feedback.

• Secured initial funding from Mark Newman that enabled hiring an engineer for development; notable success included landing a $30K annual deal with Dotera.

Recognition Through Competitions

• Participation in a student startup competition provided motivation; winning validated their business model as they reached $80K-$100K in annual revenue over two or three years.

Challenges and Transformations in Business

Initial Struggles with Business Outcomes

• The speaker describes a challenging financial situation where their wife was covering all expenses while they lived in a low-cost apartment, highlighting the struggle of starting a business without immediate income.

• A significant issue arose as the business failed to generate tangible outcomes or return on investment (ROI), leading to customer non-renewals after initial contracts expired.

Case Study: Intrada's Experience

• The speaker references Intrada, a successful company that initially showed high engagement with their product, achieving 96% month-over-month usage among employees.

• Despite strong usage metrics, Intrada decided not to renew their contract due to budget constraints, illustrating that high user engagement does not guarantee financial commitment from clients.

• This experience served as a painful but necessary lesson for the speaker's team, emphasizing the need to align better with businesses to create real value and ensure customer retention.

Pivoting Towards Employee Engagement Solutions

• In response to these challenges, the company pivoted in 2020 towards Nectar by conducting research on customer needs and market competition.

• They rebranded and developed new products focused on employee incentives and recognition rather than just perks, aiming for deeper engagement within organizations.

Understanding Employee Retention Costs

• Research indicates that when employees feel valued, they perform better and remain longer at their jobs. High turnover is costly for businesses—losing an employee can cost two to three times their salary due to recruitment and training expenses.

• The company's thesis posits that enhancing employee appreciation can significantly reduce turnover costs; charging businesses $20,000-$30,000 for services becomes negligible compared to potential savings of $50,000-$200,000 per retained employee.

Growth and Expansion of Nectar's Offerings

• Following this strategic pivot, Nectar experienced substantial growth—from zero employees to over 150—and expanded its client base significantly.

• Initially positioned as a point solution focusing solely on recognition and rewards, Nectar recognized the need for broader offerings amidst evolving market demands driven by technology advancements like AI.

Development of Comprehensive Product Suite

• After securing Series B funding two years ago, Nectar began expanding its vision beyond single solutions toward developing a comprehensive suite of tools addressing various aspects of employee engagement and retention.

• New products were introduced focusing on internal communications and employee feedback mechanisms such as surveys and sentiment analysis—key components in understanding workforce dynamics.

• Recently launched fourth product completes their suite; over half of new customers are purchasing multiple products which enhances deal size and increases customer loyalty through integrated solutions.

Vision for Future Employee Experience

• The overarching goal is creating an agentic employee experience beginning from preboarding processes when new hires accept job offers—setting the stage for long-term engagement strategies.

Employee Lifecycle and Startup Insights

Building a Comprehensive Employee Journey

• The speaker discusses the importance of creating tools that support the entire employee lifecycle, from onboarding to offboarding, emphasizing a holistic approach to employee management.

• An "agentic layer" is being developed, which involves AI acting as an HR generalist to assist with various tasks within the company.

Key Lessons for Startups

• The speaker shares valuable lessons learned over seven to eight years in the startup world, aimed at aspiring entrepreneurs or those interested in startups.

Dreaming Big

• Emphasizes the significance of having big dreams and overcoming self-imposed limitations; belief in oneself can lead to extraordinary achievements.

• Acknowledges common human tendencies towards self-doubt but stresses the need to expand one's perceived capabilities.

Taking Risks: "Shoot Your Shot"

• Encourages reaching out to influential figures like CEOs and investors despite potential rejection; persistence can yield unexpected opportunities.

• Highlights that while responses may be rare, creativity in outreach can foster meaningful connections.

Real-Life Example: The Burn Metric

• Shares an anecdote about engaging with David Sacks, a prominent venture capitalist, by tweeting about a metric he created called the burn metric for startups.

• Describes how this interaction led to unexpected interest from Sacks regarding potential investment opportunities.

Ownership and Control Over Outcomes

• Advocates for taking full ownership of one’s circumstances rather than being passive; understanding control over responses is crucial for success.

Continuous Learning as a Pathway to Success

• Stresses the importance of being both hardworking and eager to learn; this combination sets individuals apart in their careers.

• Notes that continuous learning leads not only to increased earning potential but also creates a cycle of opportunity and growth.

Navigating Distractions in Modern Times

• Observes that today's chaotic environment presents unique challenges but also opportunities for differentiation among peers entering the workforce due to widespread distractions.

The Importance of Focus and Growth Mindset

Overcoming Distractions for Personal Growth

• Emphasizes the need to minimize distractions, such as smartphones, to focus on learning and personal development. The speaker suggests that previous generations had fewer distractions, making it easier for them to engage in self-improvement.

• Reflects on how competition in earlier career stages required long hours and dedication, contrasting it with today's opportunities where avoiding distractions can lead to significant advantages.

Embracing Stress as a Catalyst for Growth

• Introduces the concept of being "blessed to be stressed," indicating that stress can be beneficial if managed properly. It encourages stepping outside comfort zones for growth.

• Discusses the natural tendency to stay within comfort zones but highlights that true growth occurs when individuals challenge themselves beyond these limits.

The Balance of Pressure and Performance

• Describes a bell curve model of stress where optimal performance is achieved at a healthy level of pressure. Too much stress can be detrimental, while too little may hinder growth.

Recommended Resources for Learning

• Shares insights about the book "Switch" by Dan and Chip Heath, which focuses on understanding change from psychological perspectives. It provides frameworks applicable across individual, team, and societal levels.

• Mentions the podcast "All In Pod," which covers various topics including business trends and global events, serving as an informative resource.

Understanding Client Needs in Product Development

• Discusses strategies for building effective products by deeply understanding client roles and workflows. This involves identifying their current tools and processes.

• Highlights how many successful solutions arise from addressing inefficiencies in manual processes or spreadsheets used by clients.

Company Naming Insights

• Explains the process behind naming their company "Nectar," emphasizing that choosing a name involves careful consideration despite its seemingly unexciting nature.

Understanding the Concept of "Nectar" in Organizational Culture

The Significance of Nectar

• The speaker reflects on the word "nectar," describing it as a simple yet positive term that evokes good feelings.

• Nectar is identified as the essential ingredient for honey, symbolizing that frequent and meaningful recognition is crucial for creating a positive organizational culture.

• Unlike competitors who focus on extrinsic rewards, the emphasis is placed on intrinsic recognition and appreciation within organizations.

Lessons from Past Experiences

• The speaker discusses their first startup, PERK, highlighting key lessons learned from its failure and how it informed their pivot to Nectar.

• A major takeaway is the importance of taking action; getting involved in business allows for real-world learning and iteration rather than remaining passive.

Iteration and Learning from Failure

• Reflecting on past ventures, the speaker emphasizes that initial ideas may not be successful but can lead to valuable insights when actively engaged in business.

• Iteration based on experiences helps align business ideas with actual ROI and outcomes.

The Role of Support Systems

• Discussion shifts to how failure can be reframed as a learning opportunity if one continues to adapt and improve after setbacks.

• The Entrepreneurship Institute at UVU provided critical support during challenging times, emphasizing belief capital over just financial investment.

Networking vs. Relationship Building

• When asked about networking's importance, the speaker prefers to frame it as building relationships rather than traditional networking practices.

Networking and Its Impact on Startups

The Role of One Million Cups in Startup Culture

• The speaker discusses the concept of "One Million Cups," a platform for startups to pitch ideas and network, highlighting its presence across various chapters in the nation.

• This initiative fosters community among entrepreneurs, allowing them to connect, share experiences, and support each other in their ventures.

Building Connections Through Networking

• The speaker shares a personal anecdote about meeting Brad Henderson at a One Million Cups event, emphasizing the importance of friendships formed within the startup ecosystem.

• When searching for a CTO, the speaker leveraged his network by reaching out to contacts for recommendations, illustrating how networking can lead to significant opportunities.

Serendipity in Finding Talent

• A connection made through Brad's network ultimately led to hiring their CTO, Jordan. This highlights how unexpected connections can be crucial for success in business.

• The speaker reflects on the impact of this hire on their journey, questioning whether they would have succeeded without him and underscoring the value of building relationships.

Final Thoughts on Entrepreneurship

• As the discussion wraps up, participants are encouraged to focus on hard work and dedication as keys to achieving success in their endeavors.

• The speaker expresses gratitude for the opportunity to share insights and encourages attendees to continue networking during lunch after the session.