Day 1 Evening - Serge Lafontaine
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Transcript of Day 1 Evening - Serge Lafontaine
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Lead to Win
MemoridiaSerge Lafontaine
19-May 2009
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Lead to Win
Who am I?
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1995 2000 2001 2002
ESION
2004 2005
MemoridiaMemoridia
•HW Engineer•Management Roles•Worked in various size organizations -
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Lead to Win
My Next Start-Up Criterias
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•No more than employee #5•All others work for employees 1 to 5
•From idea to production in less than 6 months
•Bootstrap. No VC or Friend and Family money
•Pay Employees with real $ •stock options / sweat equity is gravy -
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Lead to Win
Memoridia
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•Capture and Share the Moment•Situation where participant could not take picture
•Product: Multimedia CD with•Fixed Content (multimedia video, 360 pictures, etc)•Personalized Content (picture)
•From Click to Burn in less than 2 min
•Concept could apply•Tourism industry•Sporting Events -
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Lead to Win
Memoridia Team
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Chris
Frank
SERGESerge
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Lead to Win
Find First Customer
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Lead to Win
Why them?
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•Wanted to prove concept in a controlled environment•Electricity on-board•Captive audience for 4 hours•Rain or shine, train was going
•Original idea was to use the Steam Train to approach Greyhound / Double Decker buses
•Train was only the proof of concept -
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Lead to Win
Time Line
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JAN2004
MAY2004
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Lead to Win
Memoridia Team
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Chris
Frank
Serge
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Lead to Win
Time Line
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JAN2004
MAY2004
JULY2004
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Lead to Win
Two Options
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•At that point, except for our time, broke even:•Computer Equipment•Digital Cameras•Student Payroll
•BUT,we were sitting on 1000+1000+ pre-programmed CDs
Stop or Continue?Stop or Continue?
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Lead to Win
I continued!
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•Lasted until Labour Day•Even had to order another batch of blank CDs•Made a modest “profit” that paid for two weeks
Costa Del Sol - Spain
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Lead to Win
Lessons Learned
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•Shareholder Agreement – FIRST•Make sure everyone has financial skin in the game
•Test your Business Plan as early as possible. We assumed•$5 CDs, 40% of people bought at $15•100+ pictures, our best trip was 50 pictures
•Don’t build your business on advertising revenues•Advertising $ will be bonus and will come later
•Pay yourself •If you can’t give yourself a salary, business plan does not work•You can only go so long on sweat equity
•Keep your domain name even if you fold•Within a day of expiry, someone grabbed mine -
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Lead to Win
What do I do now?
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•Two young daughters 2 and 5 years old
•Help Hardware companies in Ottawa with their component needs
•Getting ready for the golf season!
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Lead to Win
Questions?
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THANK YOU!!!THANK YOU!!!