Craig Hollingworth - Bootstrapping a £3 Million Business - Concirrus
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This document outlines 3 steps to build a company to £3 million revenue without investment: 1) Sell products and make money to build a foundation, 2) Get paying customers by listening to their concerns and earning their trust to solve problems, 3) Apply for government grants to speed growth. It provides examples of how Concirrus helped various companies like Finning, Caterpillar, Watchie, and CMS transform their businesses through IoT solutions to improve operations and business models. The overall message is to focus on customers, work hard as a team, and leverage available funding to scale up quickly.
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Craig Hollingworth - Bootstrapping a £3 Million Business - Concirrus
- 1. @CONCIRRUS
- 2. HOW TO BUILD A COMPANY TO £3 MILLION REVENUE WITHOUT INVESTMENT
- 3. HMMM.
- 4. THE START
- 5. STEP 1 – SELL STUFF AND MAKE MONEY
- 6. STEP 2 – GET PAYING CUSTOMERS
- 7. STEP 2 – GET PAYING CUSTOMERS LISTEN TO THEIR FEARS, UNCERTAINTIES AND DOUBTS
- 8. STEP 2 – GET PAYING CUSTOMERS EARN THEIR TRUST TO SOLVE THEIR PROBLEMS
- 9. FOCUS
- 10. CUSTOMER FOCUSED
- 11. HARD WORK AND A GOOD TEAM
- 12. CONCIRRUS IMPROVED THEIR BUSINESS BY PROVIDING DIAGNOSTICS, REAL-TIME TYRE PRESSURE AND TEMPERATURE TO FINNING CAT FINNING
- 13. CATERPILLER
- 14. CONCIRRUS CHANGED WATCHIE’S BUSINESS MODEL BY GETTING THE PRODUCT TO MARKET QUICKLY AS WELL AS IMPROVING ITS OFFERING WATCHIE
- 15. WATCHIE
- 16. CONCIRRUS TRANSFORMED THEIR BUSINESS MODEL BY BUILDING AND OPERATING INSURANCE TELEMATICS SOLUTIONS CMS
- 17. CMS
- 18. ACQUISITIONS & GROW TEAM
- 19. STEP 3 – GOVERNMENT GRANTS – ROCKET POWER
- 20. STEPS STEP 1 – SELL STUFF AND MAKE MONEY – BUILD A FOUNDATION STEP 2 – GET PAYING CUSTOMERS – SOLVE REAL PROBLEMS STEP 3 – LOOK FOR CHEAP FUNDING – SPEED IT UP
- 21. 100%
- 22. THE INTERNET OF THINGS @CONCIRRUS
Editor's Notes
- Who am I Lots of IOT presentations talk about what could happen in the future, Nikita asked me to show you what is being done today .. So I will present a couple of real case studies. One of which has a slight twist.
- When I was asked to present this… I actually felt awkward, it’s not something I would talk about really, so I thought I would just tell you the story of Concirrus
- Before I start… it’s not easy… we’ve condensed a lot of hours into 3 years, have a good team and work as one unit. Im not going to take all the credit!
- Andy and I always say we started over a gin and tonic – and a long business plan! Everything I’m about to tell you was a 5 year plan … just when we go to it there were some steps missing! In reality we did this in a much shorter timespan that we ever predicted.
- When we had earned money we we’re able to build a team and have confidence we could deliver something ..
- We did a lot of listening with our customers .. What did they need in IOT .. What where their problems,
- We then earned the trust of a huge PLC who let us loose and allowed us the chance to solve a specific question .
- Before I start… it’s not easy… we’ve condensed a lot of hours into 3 years, have a good team and work as one unit. Im not going to take all the credit!
- We came at this from the customer backwards rather than product forwards – imagine without this we would all have a pair of these plugged into our Iphones
- Before I start… it’s not easy… we’ve condensed a lot of hours into 3 years, have a good team and work as one unit. Im not going to take all the credit!
- CONCIRRUS IMPROVED THEIR BUSINESS BY PROVIDING DIAGNOSTICS, REAL-TIME TYRE PRESSURE AND TEMPERATURE TO FINNING
- How did we cure it – Can we add the cat machine pic also as per the std PPT?
- Watchie – Spent money on several systems , looked at building it from scratch
- Learned they could use the Concirrus platform and hardware .. No need to write the same two lines of code – MORE INFORMATION ABOUT THE PRODUCT
- Real IOT
- Features
- We earnt enough money to make acquisitions and grow our team and capabilities
- Some great grants out there that can support you , This is the cheapest form of money and there are literally hundreds across the EU.
- We ended up building a company that we own 100% of Questions ?