AGILE, LEAN, SCRAPPY & BROKEAGILE, LEAN, SCRAPPY & BROKETHE COMMON TRAITS OF A RESILIENT STARTUP

2006: LOOKING FOR A CHANGE2006: LOOKING FOR A CHANGE

•• MMETET ININ 20062006•• IIDEADEA FORFOR EVENTEVENT SOFTWARESOFTWARE

•• 80%80% CONCEPTCONCEPT

•• TTOOKOOK ITIT TOTO BOSSESBOSSES

•• TTHEYHEY SAIDSAID ““NONO THANKSTHANKS””

•• MMETET ININ 20062006•• IIDEADEA FORFOR EVENTEVENT SOFTWARESOFTWARE

•• 80%80% CONCEPTCONCEPT

•• TTOOKOOK ITIT TOTO BOSSESBOSSES

•• TTHEYHEY SAIDSAID ““NONO THANKSTHANKS””

MAKE YOUR OWN LUCKMAKE YOUR OWN LUCK

•• 1010 WEEKSWEEKS LATERLATER

•• RREGISTRATIONEGISTRATION & B& BADGINGADGING

•• OOPENEDPENED ANAN OFFICEOFFICE

•• BBOUGHTOUGHT EQUIPMENTEQUIPMENT

•• CCOULDNOULDN’’TT PAYPAY OURSELVESOURSELVES

•• 1010 WEEKSWEEKS LATERLATER

•• RREGISTRATIONEGISTRATION & B& BADGINGADGING

•• OOPENEDPENED ANAN OFFICEOFFICE

•• BBOUGHTOUGHT EQUIPMENTEQUIPMENT

•• CCOULDNOULDN’’TT PAYPAY OURSELVESOURSELVES

60% NOT 80%60% NOT 80%

•• BBECOMINGECOMING AGILEAGILE

•• AADDINGDDING FEATURESFEATURES

•• CCLIENTSLIENTS DEFINEDDEFINED PRODUCTPRODUCT

•• BBECOMINGECOMING AGILEAGILE

•• AADDINGDDING FEATURESFEATURES

•• CCLIENTSLIENTS DEFINEDDEFINED PRODUCTPRODUCT

FIXING A BROKEN INDUSTRYFIXING A BROKEN INDUSTRY

•• RRAISEDAISED FIRSTFIRST $650K$650K•• BBEELLINKERINKER + V+ VIRTUALIRTUAL TTOTEOTE

•• TTONSONS OFOF WASTEWASTE @@ EVENTSEVENTS

•• RRENTENT 44--55 TIMETIME == PROFITPROFIT

•• RRAISEDAISED FIRSTFIRST $650K$650K•• BBEELLINKERINKER + V+ VIRTUALIRTUAL TTOTEOTE

•• TTONSONS OFOF WASTEWASTE @@ EVENTSEVENTS

•• RRENTENT 44--55 TIMETIME == PROFITPROFIT

WRONG MARKET SIZE = OOPS!WRONG MARKET SIZE = OOPS!

•• WWHENHEN YOUYOU AREARE AA HAMMERHAMMER

•• TTHOUSANDSHOUSANDS OFOF BELINKERSBELINKERS

•• AANGELNGEL MONEYMONEY

•• CCASHASH FLOWFLOW POSITIVEPOSITIVE ININ 11 YEARYEAR??•• RREALEAL MARKETMARKET SIZESIZE 1,0001,000

•• WWHENHEN YOUYOU AREARE AA HAMMERHAMMER

•• TTHOUSANDSHOUSANDS OFOF BELINKERSBELINKERS

•• AANGELNGEL MONEYMONEY

•• CCASHASH FLOWFLOW POSITIVEPOSITIVE ININ 11 YEARYEAR??•• RREALEAL MARKETMARKET SIZESIZE 1,0001,000

SMART PHONE MARKET WAS GROWINGSMART PHONE MARKET WAS GROWING

•• DDATAATA COLLECTIONCOLLECTION BUSINESSBUSINESS

•• WWORKEDORKED ANDAND LEARNEDLEARNED

•• LLIMITEDIMITED BYBY HARDWAREHARDWARE

•• DDATAATA COLLECTIONCOLLECTION BUSINESSBUSINESS

•• WWORKEDORKED ANDAND LEARNEDLEARNED

•• LLIMITEDIMITED BYBY HARDWAREHARDWARE

YOURS OR OURSYOURS OR OURS

•• EEARLYARLY 20102010 MOBILEMOBILE BBEELLINKERINKER

•• TTHEHE CRITICALCRITICAL PIVOTPIVOT

•• 20112011 SHUTSHUT DOWNDOWN THETHE OFFICEOFFICE

•• EEARLYARLY 20102010 MOBILEMOBILE BBEELLINKERINKER

•• TTHEHE CRITICALCRITICAL PIVOTPIVOT

•• 20112011 SHUTSHUT DOWNDOWN THETHE OFFICEOFFICE

MINIMUM VIABLE PRODUCTMINIMUM VIABLE PRODUCT PRODUCTPRODUCT

•• PPAYINGAYING FORFOR WHATWHAT WEWE NEEDNEED

•• 33 ISIS AA MAGICMAGIC NUMBERNUMBER

•• RREADYEADY TOTO RAISERAISE MONEYMONEY ONON ANAN MVPMVP•• CCOMEOME BACKBACK WHENWHEN YOUYOU HAVEHAVE SOMETHINGSOMETHING

•• PPAYINGAYING FORFOR WHATWHAT WEWE NEEDNEED

•• 33 ISIS AA MAGICMAGIC NUMBERNUMBER

•• RREADYEADY TOTO RAISERAISE MONEYMONEY ONON ANAN MVPMVP•• CCOMEOME BACKBACK WHENWHEN YOUYOU HAVEHAVE SOMETHINGSOMETHING

ST LOUIS SUPPORT SYSTEMST LOUIS SUPPORT SYSTEM

•• CCAPITALAPITAL INNOVATORSINNOVATORS CLASSCLASS 22•• RREE--STARTSTART??•• JJUMPEDUMPED ININ WITHWITH BOTHBOTH FEETFEET

•• DDIFFERENTIFFERENT THANTHAN 20062006•• TTHINGSHINGS STARTEDSTARTED TOTO HAPPENHAPPEN!!

•• CCAPITALAPITAL INNOVATORSINNOVATORS CLASSCLASS 22•• RREE--STARTSTART??•• JJUMPEDUMPED ININ WITHWITH BOTHBOTH FEETFEET

•• DDIFFERENTIFFERENT THANTHAN 20062006•• TTHINGSHINGS STARTEDSTARTED TOTO HAPPENHAPPEN!!

SELLING EQUITY &SELLING EQUITY &NOT THE PRODUCTNOT THE PRODUCT

•• $3M/200$3M/200 PITCHESPITCHES = $= $15,00015,000

•• MMONEYONEY OROR ADVICEADVICE??

•• $3M/200$3M/200 PITCHESPITCHES = $= $15,00015,000

•• MMONEYONEY OROR ADVICEADVICE??

EVERYONE SAYS…EVERYONE SAYS…

•• TTWICEWICE THETHE MONEYMONEY ++ TWICETWICE ASAS LONGLONG

•• SSUCCESSUCCESS ISIS 75%75% PLANNINGPLANNING ANDAND 25%25% EXECUTIONEXECUTION

•• RREMAINEMAIN CALMCALM –– BESTBEST MOVEMOVE MAYMAY BEBE NONO MOVEMOVE

•• SSLEEPLEEP ONON ITIT

•• TTWICEWICE THETHE MONEYMONEY ++ TWICETWICE ASAS LONGLONG

•• SSUCCESSUCCESS ISIS 75%75% PLANNINGPLANNING ANDAND 25%25% EXECUTIONEXECUTION

•• RREMAINEMAIN CALMCALM –– BESTBEST MOVEMOVE MAYMAY BEBE NONO MOVEMOVE

•• SSLEEPLEEP ONON ITIT

YODA SAID THIS WOULD HAPPEN!YODA SAID THIS WOULD HAPPEN!

•• SSMELLMELL THETHE FEARFEAR

•• NNOTOT READYREADY TOTO BEBE AA JEDIJEDI

•• WWILLILL YOUYOU LISTENLISTEN??

•• SSMELLMELL THETHE FEARFEAR

•• NNOTOT READYREADY TOTO BEBE AA JEDIJEDI

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ADULT SUPERVISIONADULT SUPERVISION

Alyn Bud Jay David Joe Judy Mark

•• WWISDOMISDOM

•• TTOUGHOUGH QUESTIONSQUESTIONS

•• NNOO KOOLKOOL--AIDAID

•• RREALEAL WORLDWORLD DUEDUE DILIGENCEDILIGENCE

AN APP THAT BUILDS APPS:AN APP THAT BUILDS APPS:BIT.LY/APPIN3MINBIT.LY/APPIN3MIN

THANK YOU FOR LISTENINGTHANK YOU FOR LISTENING

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