Alex Bean, Co-Founder of Divvy, Shares Startup Lessons at UVU’s Halladay Lecture Series

UVU was honored to host Alex Bean, Co-Founder of Divvy, as the guest speaker for this week’s Reed and Christine Halladay Lecture Series.

Alex was born into a family of entrepreneurs and shared that his passion for building businesses began early. While many of his peers worked traditional jobs in high school, he was already experimenting with his own ventures. He later studied geography at BYU, but it was in his twenties that he truly learned the discipline of entrepreneurship, often working long hours for very little pay in order to gain experience and knowledge.

In 2016, Alex co-founded Divvy, a smart credit card platform for businesses. He and his longtime friend, whom he first met playing paintball in the fourth grade, spent 18 months building the product before its launch. Reflecting on this, he told students that you never know when or how you will meet the people who may one day become your business partners.

 

Alex’s Core Principles for Building a Startup

1. Product market fit is everything. Without it, no business can succeed. He used the “billboard theory” to illustrate this point—your family and friends are not your target customers. You must be specific about who you are serving.
2. It is all about the team. Alex called this the cheat code to success: find people who are smarter than you. When building a team, ask yourself three simple questions: Do I trust them? Do I enjoy working with them? Are they competent?
3. Expect the rollercoaster. A startup will never feel steady. There will always be highs and lows, and things are never as good or as bad as they first appear. Take a breath and keep perspective through the ride.

 

Unicorn Lessons: Building a Career of Impact

1. You are the VC. Think like an investor when approaching opportunities. Look for product market fit, market size, and the strength of the team and execution.
2. Get in the car as soon as possible. Surround yourself with impressive people and be willing to learn from them. Don’t try to hire a driver right away—be a passenger first so you can observe the road, then step into the driver’s seat when ready.
3. Find your superpower. Everyone has a unique strength. For Taylor Swift it is storytelling, for Elon Musk it is vision and execution. Ask yourself what you are truly great at, what people are willing to pay you for, and what unique value you bring.

 

Lessons Beyond Success

Alex reminded students that even after an exit, the pursuit of happiness continues. It is not found at the top but in the process of building itself, which he described as the most noble work you can do. In his book Factory for Good, he interviewed hundreds of successful leaders and found that lasting happiness comes from three things: purpose, relationships, and legacy.

During the Q&A, Alex advised students to pay attention to their energy when deciding whether to learn a skill or outsource it. If a task fuels you, take it on. If it drains you, find someone else who thrives in that area.

The Woodbury School of Business extends its gratitude to Alex Bean for sharing his entrepreneurial journey and insights with UVU students. His story was an inspiring reminder that success is built on resilience, focus, and knowing the unique strengths you bring to the table.

 

Want to catch every insight from this year’s Halladay Lecture Series?

Learn more about all fall 2025 Halladay Lecture Series speakers here. 

Watch Alex Bean's full lecture below.