3 Minute Power Presentation by Eric Edelstein Presentation Transcript
12% of Net Prophet attendees re-tweeted thisThe Pivot
Who is @EricEdelstein ? Yes, that really is my twitter name Until 6 weeks ago (actually 5 weeks, 4 days, & 7 hours) I was the proud co-founder of: Corporate LookIn the Office Look
Now I’ma proud father…
Customers to @evly and @EricEdelstein:“If this was on our Facebook FanPage, or if we could use this onour website, we’d use ittomorrow!”
Venture Capitalists to @EricEdelstein“If this was onFacebook as anapp, this would bean awesomebusiness”
Question: Do we start again (aka. Pivot)• South African’s don’t respect failure!• In Silicon Valley, it’s the other way round! Changing the entire direction of a business driven by changes in the market and based• Failure means: on its current position, without – Lesson’s learned detaching from it. – Experience gained – Less Risk for VC’s the next time round
We chose the Silicon Valley route. That means we threw out nearly everything we had created to date, and started again.
Let me repeat that!!!• Coz it’s HECTIC We threw out nearly everything we had created to date, and started again.
The evly Pivot• Pre-developed, flexible i-frames – Set up a Facebook App for your Fan Page in less than an hour• Set-up wizards• Customisation Your Facebook fans can generate ideas for• Admin management tools you, solve problems, and• Viral features design anything!• All i-frames developed to• engage, entertain & crowdsource anything
12 Weeks later we had our 1st paid customer.It’s now been 6 months…& our iFrames are being used…as Facebook Apps, as Widgets on websites, & Mobile Appsby…
TAKE AWAY• Ignore the South African mentality on failing• I actually don’t believe most of us think that way (we all just have a perception that we all think that way!)• If you’re going to fail, fail fast• but learn fast• And with the remainder of your funding, pivot
QUESTIONS? NO TIME! Want to know more about PIVOTING? email@example.comWant me to come to your office to demo ourNEW wtf? Ask thePOST PIVOT person next tosoftware to you? you… firstname.lastname@example.org Pivot A1 Okay