Day 1 Evening - Serge Lafontaine
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Day 1 Evening - Serge Lafontaine Presentation Transcript

  • 1. Memoridia Serge Lafontaine 19-May 2009 1 Lead to Win
  • 2. Who am I? ESION 1995 2000 2001 2002 2004 2005 Memoridia Memoridia •HW Engineer •Management Roles •Worked in various size organizations - 2 Lead to Win
  • 3. My Next Start-Up Criterias •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 - 3 Lead to Win
  • 4. Memoridia •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 - 4 Lead to Win
  • 5. Memoridia Team Frank Chris SERGE Serge 5 Lead to Win
  • 6. Find First Customer 6 Lead to Win
  • 7. Why them? •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 - 7 Lead to Win
  • 8. Time Line MAY 2004 JAN 2004 8 Lead to Win
  • 9. Memoridia Team Frank Chris Serge 9 Lead to Win
  • 10. Time Line MAY 2004 JAN JULY 2004 2004 10 Lead to Win
  • 11. Two Options •At that point, except for our time, broke even: •Computer Equipment •Digital Cameras •Student Payroll •BUT,we were sitting on 1000+ pre-programmed CDs Stop or Continue? 11 Lead to Win
  • 12. I continued! •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 12 Lead to Win
  • 13. Lessons Learned •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 - 13 Lead to Win
  • 14. What do I do now? •Two young daughters 2 and 5 years old •Help Hardware companies in Ottawa with their component needs •Getting ready for the golf season! 14 Lead to Win
  • 15. Questions? THANK YOU!!! 15 Lead to Win