A Leap from Finance to Entrepreneurship
Adam Loewentheil’s journey to becoming a founder started in a comfortable yet unfulfilling job in finance. “I felt like a cog in a wheel,” he said, reflecting on his time at a New York hedge fund. After four years, he walked away without a clear plan.
The turning point came while shadowing his father’s construction business. “I was introduced to environmental assessments, something I’d never heard of,” Adam said. This unexpected discovery led him to explore environmental consulting—an industry vital to sustainable development but stuck with outdated methods.
Adam joined forces with Jake Wright, a long-time friend and software engineer with a background in building enterprise software at companies like Workday. “We both realized that the industries doing the most important work were the ones nobody was paying attention to,” Adam said. Together, they founded Aldoa with a clear mission: bring modern technology to an industry that had been neglected for too long.
Outdated Tools and Inefficient Processes
As Adam learned more about the industry, he uncovered a significant issue in environmental consulting: outdated and inefficient processes. “These consulting and engineering firms were using old-school tools to do complicated, essential work,” he explained. Much of the industry still relied on pen, paper, Excel, and legacy software to manage complex projects. This meant consultants were taking handwritten notes in the field, manually transcribing them back at the office, and piecing together reports from scattered information. “The work they were doing was critical — protecting public health and ensuring sustainable infrastructure — but the tools they used were holding them back,” Adam said. This inefficiency not only slowed down projects but also added complications to an already complex process.
Starting Narrow and Building Trust
Adam knew there was a clear problem to solve, but he also knew he was an outsider in the industry. So, he and Jake took a different approach. Instead of launching Aldoa with a broad product, they focused on a very specific need. They took a narrow and precise approach, zeroing in on a specific problem in New Jersey’s environmental compliance. “We purposely started small,” Adam explained. “We built compliance tools around New Jersey’s Department of Environmental Protection. It wasn’t scalable, and it wasn’t meant to be.”
“We didn’t come in as experts—we came in as listeners”
- Adam Loewentheil
This hyper-focused strategy paid off. By going deep instead of wide, they earned the trust of local firms who saw Aldoa not as an outsider but as a partner genuinely invested in their work. “We didn’t come in as experts—we came in as listeners,” Adam said. They immersed themselves in their customers’ daily workflows, learning the ins and outs of the industry, often directly from the field. This direct feedback allowed Aldoa to build a solution that truly fit the needs of its users. “Our first five customers weren’t just buyers; they were our guides,” Adam shared.
This hands-on collaboration with early customers became the foundation for Aldoa’s product. The company’s reputation grew not through flashy marketing but through genuine relationships. “We were honest about what we didn’t know, and that honesty earned us the right to be trusted,” Adam said.
Validating the Customer’s Willingness to Pay
As Adam and Jake honed in on their specific target market, they didn’t just focus on solving problems—they also made sure there was a genuine willingness to pay for their product. “You can do a hundred customer interviews and hear about their biggest challenges,” Adam said, “but if they’re not ready to invest in a solution, it’s not a real opportunity.” He emphasized the importance of moving beyond what he called “happy ears”—hearing positive feedback without confirming a customer’s commitment to buy. This meant not only identifying pain points but ensuring that potential customers saw enough value to purchase.
This meant that they didn’t shy away from discussing money early in conversations. By directly asking if there was a budget set aside for solving the problem, they got a clear sense of the seriousness of potential buyers from the get-go.
Stage 2 Capital Catalyst Program: Gaining Knowledge and a Network of Support
When I asked Adam about his experience with Stage 2 Capital’s Catalyst program, he was candid: “To be honest, I was skeptical of structured programs.” Yet, his perspective changed quickly. An existing investor had encouraged him to check out Catalyst and its focus on go-to-market strategies. But it didn’t take long for his skepticism to fade.
One of the most impactful lessons came from a session on identifying a “leading indicator of retention.” For Adam, it was a lightbulb moment. “It made me realize we were missing a way to measure customer success beyond gut feelings,” he said. This led to a complete shift in how Aldoa tracked customer satisfaction. They moved from anecdotal feedback to data-driven indicators, allowing them to proactively address customer needs.
But Adam discovered another valuable aspect of the Catalyst program beyond the content and insights: a supportive community. “Being a founder can be lonely,” Adam shared. “Catalyst gave me a group of peers who were facing the same challenges, which is invaluable. It’s not just about strategies; it’s about having people who truly understand.”
Advice to Founders: Embrace Uncertainty and Validate Early
I asked Adam what advice he would give to other founders. His first tip? Embrace uncertainty. “Don’t let the unknown scare you. Let it fuel you,” he said. The entrepreneurial journey is rarely straightforward, and moments of doubt are inevitable. “You will question your life choices, especially in the early days,” he admitted, “but that’s all part of the process.”
Adam also emphasized the importance of starting small and learning directly from customers. “We started with a market that we knew wasn’t big enough for the long haul,” he said. “But it gave us the credibility we needed to grow. We earned our customers’ trust by solving a narrow problem first.” This trust opened the door to bigger opportunities and a scalable product.
“Too many founders fall in love with a problem
without validating if there’s a real market behind it,” - Adam Loewentheil
Finally, he had a piece of tactical advice: make sure the pain point you’re solving is something customers are willing to pay for. “Too many founders fall in love with a problem without validating if there’s a real market behind it,” Adam noted. “Don’t just have happy ears—make sure people are actually ready to invest in your solution.”
A Mission Beyond Business
Adam finds a deeper purpose in the work that he and his team are doing. “We believe in our customers and the vital work they do,” Adam said with conviction. “They’re building the infrastructure of our country and protecting our health. Our job is to make their work more efficient and impactful and we are grateful to be a part of that mission.”