Nickler is a digital invoice platform that allows small businesses to sync invoices from any format or software to their bookkeeping software. It provides cloud-based invoice approval, payments, and deep SKU-level analytics in real time without data entry. The founders saw an opportunity to digitize and standardize the fragmented invoice process for small businesses by creating a platform that different stakeholders can all use.

1. PAPERWORK SIMPLIFIED
Digitizing the small business invoice space is an obvious solution, but it hasn’t been done yet. We
asked why.
It turns out all the stakeholders are using different software, different programming languages, and
different formats, and no one is interested in adopting a central standard.
So we did it for them.
Nickler is a digital translator for small business invoices, allowing us to take any invoice, in any format,
and seamlessly sync it with their bookkeeping software. Cloud based approval, flagging, and payment
on the your mobile phone. Deep SKU level analytics in real time, with no data entry.
Sean Sherwood Don Burks
February, 2013
www.nickler.biz

2. Hard work without talent is a shame, but talent without hard work is a tragedy.
- Robert Half
Sean Sherwood Don Burks
Founder/CEO Co-Founder/CTO
sean@nickler.biz don@nickler.biz
SINergy Hospitality Group – Founder/CEO Metrolyrics.com – Senior Developer
“top 50 tables in the world” – CondeNast Traveller Sentry Payments - Developer
Grew from 0 to $6m+ annual sales jQuery A to Z - Author (due Aug 2013)
Mojo4Business SMB Consulting – Founder/CEO Microsoft Training & Quality Manager
Advising startups, executives, franchises, founders
Advisors
Jeff Magnusson Playerize - Co-Founder/CEO
RiverStyx (Sentry Payments) - Founder/CEO
Stephen Johnstone Boston Pizza Intl - CIO
Chung Wong Jump2Spot.com - Founder/CEO
Garth Shoemaker Intel, Google – Software Engineer
PHD - Human Computer Interaction, UBC
David Carley Microsoft - Senior Business Solutions

3. The Problem
Data Entry Rules
the small business workflow
Small businesses spend upwards of $3500/month on bookkeeping, which is only the manual data entry and
reconciliation of invoices and payments. Take away the data entry, and it takes under an hour per month to
complete.

4. The Problem
How are the smart small businesses currently entering their invoices?

5. We decided to
Digitally integrate
the small business invoice chain
Supplier Small Business
$$$

7. Business Model
Nickler has three revenue streams:
Monthly subscription
$10/month to integrate Quickbooks with Nickler
$10/month for automated inventory module
Supplier Merchant Account
$99 setup fee
$35 monthly fee
Invoice payment transaction fees
ACH/Direct Deposit transaction fee
Credit Card % fee and transaction fee

8. Market Size
30 million
Over 30 million prospective Nickler users
North American
Small Businesses Over 500k new small businesses start up every year
Revenue Conversion Monthly Annual
Monthly Fees $10 $120
Transaction fee ACH/DD 20 transactions $5 $60
Transaction fee CC $5000 @ 0.2% $10 $120
Average Rev/User $25 $300

9. Network effects growth model
User Connections Conversions Net referrals
Supplier 200 SMBs 10% 20 SMBs
Buyer 30 Suppliers 10% 3 Suppliers
Individual 5 SMBs/Suppliers 1 1
Focused supplier sales powers the referral loop

10. User Acquisition
Launch Growth Maturity
Word of mouth, active social media community, evangelist users
Engineered referral loop with Supplier customer lists
Direct Email Channel Partners Advertising
•Opt in list •Bookkeeping software •Adwords
•Industry associations •Evangelist Users •Channel Partners
•Existing network •POS software •Industry Publications
•Direct Sales •Affiliates •Webinars
SEO PR
•Organic search •Inbound Marketing
•Optimized page markup •Trade shows
•Media lists

11. User feedback
“I’ll happily pay for this, are you sure you don’t want to charge for it?”
– Jarrod Purnell (Wok Box)
“I need all my suppliers to use this, let me give you a list”
– Neil Wyles (Hamilton Street Grill)
“So my investor can log in and see my purchases and cash flow in real time? Awesome”
– Torben Sherwood (Valley Games)
“This looks amazing, why hasn’t anyone done this yet?”
– (multiple)
“This will revolutionize my business, I’m in”
– Neil Anderson (Madrone Custom Millwork)
“Stop talking to me, I need this now, go build it”
– Mark Brand (5 venues)

12. Key Competitors
Existing and potential
Key Competitor: Potential Entrants:
• No SKU level tracking • Existing user base
• No Analytics • Acquire Tradeshift
• Manual entry required • Evolve GoPayment
• Documents focus • History of acquisitions
Advantages Defensibility
• Deep User Value • Integration with all
• SKU / analytics focus platforms
• Simple interface • SKU integration
• Costs focus • Vertical focus

13. Goals
Development Operations Promotion Scaling
Expand bookkeeping Front end Developer Conventions and North American rollout
integrations tradeshows
Hot shot Designer Top 200 small business
Expand mobile Inbound suppliers targeted
Feature set VP Sales marketing/blogging
Channel partnerships
VP Marketing PR/Media campaign engaged
Explore
Windows/Blackberry
Outbound sales
mobile
campaign

14. PAPERWORK SIMPLIFIED
Founders Blogs
Sean Sherwood
www.startupathlete.com
Don Burks
www.donburks.com
Sean Sherwood Don Burks
February, 2013
www.nickler.biz