Jake Weatherly - Startup Weekend Presentation
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Transcript of Jake Weatherly - Startup Weekend Presentation
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1April 19, 2013
Jake Weatherly – CEO & Co-Founder, SheerID, Inc.
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My Story
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Idea vs. Opportunity• Total Addressable Market• Market Size x Value of Product/Service = Opportunity• Beware the “$1 from Everyone in China Assumption”
• Timing – Product/Service Adoption• Apple Newton vs. Apple iPad
• BEWARE of the “If you build it, they will come” trap• Tests• Get Pitch-ready• Is the Team Forming?• Are Advisors Joining?• Are you Getting (Potential) Investors/Partners/Prospects Excited?
BONUSPitch to your Parents and Grandparents.
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Don’t Lose Sight of Tradition• Functional Areas of Business• Marketing• Sales
• Ecommerce: Funnel, Platform, Processing, Fulfillment, Service/Support
• Direct Sales Model: Prospecting, Network, Tools, Style• Channels, Partners, Resellers, JVs, Affiliates
• Development• Subscribe to the Agile Manifesto• Architecture/Design, Engineering, Testing• Improvements, Project Management
• Service• Never Lose Customers
• Finance• Bring in Accounting Early
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Marketing• Phase 1: Research• Planning & Getting Pitch-Ready• Focus Groups & Surveys• Go Old-School, Guerilla Tactics
• Phase 2: Test Marketing/Sales• Create Value with Contracts, LOI’s, Quotes
• Phase 3: Launch• Multi-variant Test EVERYTHING• Rinse & Repeat
• Phase 4: Leveraging Success/Validation• Develop Content for Validation – Expertise, Testimonials, White Papers
• Phase 5: Exit• There’s an Art to Marketing for Exit
BONUSThere’s Always Competition – Analyze It!
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It’s ALL About the Team• Be a Co-Founder, not a Founder• Collaborate• Start-up Team Math is Multiples (1+1=3)
• Hire Right• Your Network – Team, Advisors, Family, Friends
• YOU CAN BUY TIME• Fire Fast!
BONUS1. You DON’T have time to “ramp” team members.2. Hire for Experience, Skills, Network, Work Ethic.3. Raise Funds/Give Equity Accordingly
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Piggyback – What’s Out There?• Incubators• Founders Seeking Co-Founders• Seasoned Executives• Investors & Advisors
• Contractors• VA’s• Outsourcing• JVs• Partnerships• API’s• OpenSource Projects• AWS/EC2
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Piggyback – What’s Out There?• MarketPlaces• Amazon• eBay• BestBuy• AppStore• SalesForce AppExchange• FaceBook• GroupOn/LivingSocial• Etsy• Magento/Xcommerce/eBay/PayPal• BrainTree/PayPal
BONUSUse Monsoon Commerce to Simplify Operations
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Beware of the Sexy Factor• Investment is Dangerous• Don’t Celebrate Early, but Definitely Celebrate Often• Pass Break-Even & Build• 24 Hours in Vegas, 12 Hours in San Francisco• 24 Hours in Malibu – On the Beach?• Spend Money like You’re Homeless
BONUSCulture is Important – Share the Risk, and Share the Rewards
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The Plan is ALWAYS Wrong!• Banks want Business Plans• Start-up Funding from Banks is Dead• Pitch Deck is the New Plan• Forecast your Financials – Constantly• ….And be Religious about “Planned vs Actual” Analysis
BONUSUse Forecasting Templates – Business Plan Pro, LivePlan, Business Plan Builder, Etc.
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Student DiscountsCoupon Codes Customer Loyalty Programs Active-Duty Military
Teacher/FacultyGovernment Employees Travel Agencies
Discounts for Corporate Partners Membership Groups
Discounts for Non-Profits Military Veterans Employee DiscountsNew Customer Discounts Small Businesses First Responders
SheerID, Inc. Confidential and Proprietary Information
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SheerID Verifies
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Hosted Solution--PGA
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Go To Site
SheerID, Inc. Confidential and Proprietary Information
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Integrated Solution—Tableau
13Go To Site
SheerID, Inc. Confidential and Proprietary Information
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Reseller Solution—Amazon
14Go To Site
SheerID, Inc. Confidential and Proprietary Information
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Jake Weatherly [email protected] 541.221.9504
SheerID, Inc. Confidential and Proprietary Information
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Now GO START YOUR BUSINESS!!