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BVC Feb 16 Program Presentation by Rob Fuqua
1. IT (TRULY) TAKES A
VILLAGE
TO BUILD A GREAT
COMPANY
BIRMINGHAM VENTURE CLUB
February 11, 2016
Birmingham, Alabama
Robert Fuqua, CEO, Atlas RFID Solutions
8. PHASE 1: COMPANY LAUNCH
8
July 2006
Establish Core
Values and Initial
Business Model
June
2006
January
2009
9. ESTABLISH THE CORE
The long-term vision for Atlas
is that it becomes a ‘great’
company where ‘good’ is not
good enough
To be a ‘great’ company, Atlas
will be focused on strong and
consistent profits, continuous
improvement, and a cult-like
culture based on pride, great
teamwork, superior results,
and loyalty
• Integrity always.
• Profit maximization is our ethical function.
• Hire only the best talent.
• View technology as a catalyst for progress. Exploit
advanced technologies to generate superior results.
• Focus. Be the best in every endeavor we pursue.
• Continuous improvement and constant progress to serve
as a dominant factor in our culture.
• Culture epitomized by meritocracy, accountability, deep
pride that results from achieving the exceptional.
9
10. PHASE 1: COMPANY LAUNCH
10
July 2006
Establish Core
Values and Initial
Business Model
June
2006
January
2009$$
October 2006
Friends & Family
~$350,000
Business Model: RFID Consulting Services
$$
October 2007
Jemison & Richgood
Multi-Tranche
~$1.2mm Total
April 2007
Proud Charter
Tenant in the
Innovation Depot
April 2007
First Major Client:
Honda Manufacturing
of Alabama
The
“Fan”
Gets
Messy
(AND CRASH)
11. PHASE 1: KEY LESSONS LEARNED
• Establishing a core ethos for our culture serves as the foundation
• No really…cash is king;
– Cash should be used to grow a company not sustain it
– Sensitivity to Scale
• Macroeconomics actually matter
• SaaS is a better model than Services
• Having an MBA doesn’t mean you know how to run a business
• Being an entrepreneur is a tough life (especially during a global recession)
11
13. PHASE 2: SURVIVE & REGROUP
13
January 2009
Humble Pie Binge
January
2009
December
2010
Business Model: Survive Discover & Establish a Saas Opportunity
$$
January 2009
Re-finance Home;
No salary
July 2009
$1mm
Sustainment
Contract
October 2009
The Ebay Experiment
atlasRFIDstore Launch
February 2010
Finally a SaaS Opportunity
Jovix® Launch
14. PHASE 2: KEY LESSONS LEARNED
• All things are possible
• Shoestring budgeting
• “If you’re going to build a software company, you need to know a little
something about software”
• Trench warfare will change your life
14
16. PHASE 3: BUILD & SOLIDIFY 16
January
2011
December
2014
Business Model: Scalable e-Commerce Site
Business Model: Industrial Construction SaaS
$$
December 2011
Stonehenge,
Jemison, Richgood
$400,000
$$
July 2013
Stonehenge,
Jemison, Richgood
$1,000,000
$$
December 2014
Kayne-Anderson
Capital Partners
$10,000,000
17. atlasRFIDstore.com
• Value Added Reseller
• $5.1mm in 2015
• >$7mm in 2016
• >30% margins
• SEM Centric
• Top Tier SEO Results
17
18. JOVIX® - SITE MATERIALS MANAGEMENT
Purpose-Built for Industrial Capital Asset Construction
18
OWNERS
EPC / EPCMs
CONTRACTORS
FABRICATORS
SUPPLIERS
19. 19
THE PROBLEM
of the average
craft laborer’s time is
with the largest portion wasted
WAITING ON
MATERIALS.
*COAA WORKFACE PLANNING
28. BUILT FOR THE BOOTS & THE SUITS
NO MORE CLIPBOARDS™
MANAGE BY EXCEPTION™
28
29. Project C
Project B
Project A
Home
Office
Warehouse
Warehouse
Warehouse
Fab Shop
Fab Shop
Fab Shop
Mod Yard
Mod Yard
Mod Yard
Workface
Workface
Workface
Laydown Yard
Laydown Yard
Laydown Yard
Home
Office
30. WHAT VALUE DOES JOVIX® PROVIDE?
Documented Savings of:
30
3% - 5% Direct Labor Budget
3% - 5% Indirect Labor Budget
0.5% - 1% Material Budget
31. PHASE 3: KEY LESSONS LEARNED
• Running 2 separate business models is crazy
• Sometimes crazy works
• You must have a clear product identity and vision
• Sales is always most important
• Effective scaling doesn’t occur naturally
31
32. PHASE 4: FUELED GROWTH
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
2007 2008 2009 2010 2011 2012 2013 2014 2015
Thousands
Revenue Valuation
2006 – 2008
Company Launch
Consulting Model
2009 - 2011
Survive & Regroup
Search for scalable
business models
2012 - 2014
Build & Solidify
Focus resources toward
building and growing
Jovix® & atlasRFIDstore™
2015 - 2018
Fueled Growth
Leverage external
resources to achieve
more dynamic growth
2015 | 2016
33. PHASE 4: FUELED GROWTH 33
May
2014
December
2016$$
December 2014
Kayne-Anderson
Capital Partners
$10,000,000
2015: Key Transition
34. 2015 (THE TRANSITION YEAR): KEY LESSONS
LEARNED
• Fundraising takes tremendous time and energy; 1 large chunk of capital is better than
many small chunks
• What got you here won’t get you there
• Change in scale requires change in mentality
– Risk management becomes relevant
– Predictability and accountability are essential
– People must mature with the company
• Clear communication is paramount
• Leadership must remain
– Poised
– Positive
– Focused
– Self-Aware
• Sales are still what is most important
34
37. GENERAL LESSONS LEARNED
• A company has phases and transition must be managed
• You can’t make everyone happy Stick to your values
• Never lose sight of the goal / purpose of your efforts
• Never give up
• Great employees (especially leadership) are essential
• It truly takes a village
• The journey is the reward
37
39. 39
The Man in the Arena
It is not the critic who counts; not the man who points out how
the strong man stumbles, or where the doer of deeds could have
done them better. The credit belongs to the man who is actually
in the arena, whose face is marred by dust and sweat and blood;
who strives valiantly; who errs, who comes short again and again,
because there is no effort without error and shortcoming; but
who does actually strive to do the deeds; who knows great
enthusiasms, the great devotions; who spends himself in a worthy
cause; who at the best knows in the end the triumph of high
achievement, and who at the worst, if he fails, at least fails while
daring greatly, so that his place shall never be with those cold and
timid souls who neither know victory nor defeat.
- Theodore Roosevelt