April 19, 2013 1Jake Weatherly – CEO & Co-Founder, SheerID, Inc.
My Story 2
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?BONUS 3
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 4 • Bring in Accounting Early
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 ExitBONUS 5
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! BONUS 1. 2. 6 3.
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 HomelessBONUS 9
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” AnalysisBONUS 10
SheerID Verifies Student Discounts Coupon Codes Customer Loyalty Programs Active-Duty Military Teacher/FacultyGovernment Employees Travel Agencies Discounts for Corporate Partners Membership GroupsDiscounts for Non-Profits Military Veterans Employee Discounts New Customer Discounts Small Businesses 11 First Responders SheerID, Inc. Confidential and Proprietary Information
Hosted Solution--PGA 12 Go To Site SheerID, Inc. Confidential and Proprietary Information
Integrated Solution—Tableau 13 Go To Site SheerID, Inc. Confidential and Proprietary Information
Reseller Solution—Amazon Go To Site 14 SheerID, Inc. Confidential and Proprietary Information
Now GO START YOURBUSINESS!!Jake Weatherly 15Jake@SheerID.com541.221.9504 SheerID, Inc. Confidential and Proprietary Information