Jonas Lamis of Tech Ranch Talks about the Entrepreneur Town Hall Meeting
Where are you from originally?
I grew up in Terre Haute Indiana. Once the Crossroad's of America, these days it is suffering quite a bit from manufacturing contraction. There is quite a difference in how Austin has grown versus how most Midwestern towns have suffered over the last 20 years.
What university did you go to?
Bachelors in Engineering from Purdue, Masters in Engineering from Georgia Tech, and an MBA from Texas.
What brought you to Austin?
I started my first venture in Austin in 1995 while my wife was at Dell.
Since then, I've been a founder or early employee of 6 different startups. Some were venture backed, some were bootstrapped. A couple crash and burned and two were acquired. Austin is a great place to launch and grow a startup.
What is the idea behind your group?
Tech Ranch is a service for the Central Texas entrepreneurial community
focused on accelerating success by collaborating together and sharing our wisdom. We provide mentorship, office space, shared services, and strategic council to some of central Texas' most interesting startups. You can see pictures of Tech Ranch on our flickr feed.
What need does it fulfill?
Tech Ranch is focused on accelerating technology entrepreneurs and their ideas. Over the years in Austin, we've seen our share of technology incubators. I believe that the economic model now finally makes sense - because most software startups require less funding to get off the ground and become sustainable.
What exactly does your group do?
Tech Ranch offers programs for all stages of entrepreneurs. We have a training program called Employee to Entrepreneur that is focused on going from idea to company launch. We offer "drop in" office space for entrepreneurs and companies that need a place to call home but don't yet need a permanent office. We rent offices to qualified startups on a month to month basis (costing between $400 and $600). We provide consulting to large corporations and governments that want to develop entrepreneur centric activities. We even take part-time executive positions with a few of our portfolio companies.
Who is it for?
Our Employee to Entrepreneur training program is for anyone who is
considering launching a technology venture and has questions about how they can thrive. We currently have 10 launched companies that we are working with including Be Greeted, Piryx, Help End Local Poverty, Nidiant, Blazent, Simplitex, IPX, Zehicle and others. We also have a dozen entrepreneurs who hang out at Tech Ranch working on getting their new ventures launched. More information about these programs can be found at http://techranchaustin.com/
What was the most challenging aspect of starting up the group?
At Tech Ranch, my partners (Kevin Koym and Arvin Poole) and I roll up our sleeves and help entrepreneurs get their companies launched and help navigate through the "valley of death". We are focused on early customer validation through revenue, and growing the team pragmatically based on measurable success. Early in a venture's life, there is rarely enough capital to pay the staff, so we generally have to get creative in building the right team and support organization for each venture.
What is the next step for you and your group?
We are really excited about our work with The City of Cedar Park, Texas. We are partnering to launch Tech Ranch Cedar Park later this month. Our first event is The Entrepreneur Town Hall Meeting. This event is scheduled for the evening of June 24th. The event is open to all interested people in Central Texas and is free. Information and tickets are available at http://www.techranchcedarpark.com. We hope the readers of this blog will join us for that event!
What advice do you have for entrepreneurs?
It seems like an excellent time to launch a startup in Central Texas. There are new support organizations like The Austin Entrepreneur Network, Tech Ranch, Capital Factory and others who can help you launch, grow and monetize your venture. Be sure to check us out!
Best regards,
Hall T.
Tuesday, June 9, 2009
Wednesday, June 3, 2009
Anjan Contractor of iSpire Talks about His Startup
Anjan Contractor of iSpire Talks about His Startup
Where are you from originally?
I am originally from India but lived in Columbus, Ohio for 7 years before I moved to
Austin 4 years ago.
What university did you go to?
I went to Ohio State University.
What brought you to Austin?
My first job.
What is the idea behind your startup?
A state of art mechanism that we developed in our spare time has potential to
generate energy from the traffic flow.
What need does it fulfill?
It generates free energy, which can be used for the traffic lights, road lights, display boards or fed to the electric grid.
What exactly does your product do?
Our product- Roadside Dynamic Generator (Rd-Gen) can be installed underneath the pavement. When vehicles pass over Rd-Gen, it can generate electricity. It can also enhance traffic safety.
Who is it for?
The US department of transportation, Wal-Mart, Simon Property Group, Central Parking
Corp. and similar.
What was the most challenging aspect of starting up a business?
Getting seed funding.
What is the next step for you and your startup?
We will develop a prototype and test it.
What advice do you have for entrepreneurs?
"If you throw enough things on the ceiling, something will stick."
Best regards,
Hall T.
Where are you from originally?
I am originally from India but lived in Columbus, Ohio for 7 years before I moved to
Austin 4 years ago.
What university did you go to?
I went to Ohio State University.
What brought you to Austin?
My first job.
What is the idea behind your startup?
A state of art mechanism that we developed in our spare time has potential to
generate energy from the traffic flow.
What need does it fulfill?
It generates free energy, which can be used for the traffic lights, road lights, display boards or fed to the electric grid.
What exactly does your product do?
Our product- Roadside Dynamic Generator (Rd-Gen) can be installed underneath the pavement. When vehicles pass over Rd-Gen, it can generate electricity. It can also enhance traffic safety.
Who is it for?
The US department of transportation, Wal-Mart, Simon Property Group, Central Parking
Corp. and similar.
What was the most challenging aspect of starting up a business?
Getting seed funding.
What is the next step for you and your startup?
We will develop a prototype and test it.
What advice do you have for entrepreneurs?
"If you throw enough things on the ceiling, something will stick."
Best regards,
Hall T.
Monday, June 1, 2009
Mark Spilotro of iKnowWare Talks about His Company
Mark Spilotro of iKnowWare Talks about His Company
Where are you from originally?
18 years in Bloomington, Indiana .... Chicago's North Shore before that
What university did you go to?
Indiana University... Home of CEO's John Chambers/Cisco and Mark Cuban/Owner of the Dallas Mavericks graduated from IU's SOB (School of Business)
What brought you to Austin?
Oracle Corporation in 1999 - part of a "SWAT" Team as the "Internet Changes
Everything"
What is the idea behind your startup?
At Oracle E-Travel we used 'Salesforce.com' and I could NOT generate an Invoice, see Inventory, look at Projects, and personalize what I wanted to see in business.
What need does it fulfill?
Elimination of costly "silo" applications. The need to simplify and unify all
business communications based on the individual workers role and privilege.
What exactly does your product do?
An easy to use, fast/secure and personalized mobile internet view of business
functions of Marketing, Sales, Inventory, Project/Tasks Management, real-time
reporting, Case/Knowledge Management, and messaging. iKnowWare my Sales are... iKnowWare my Inventory is... get it
Who is it for?
Small to Medium (SMB) businesses who want to simply "Turn On Your Business" with ease of a Swiss Army Knife with deep personalization in industry language for high adoption and utilization (and ROI of course!)
What was the most challenging aspect of starting up a business?
People... its all about People (motivate, listen, inspire, lead by example, each as
an owner) and focus to simplify Process for productivity and profits to exist.
What is the next step for you and your startup?
Growth capital of $5M and a secured credit facility of an additional $5M; grow to
$184M by 2012; launch 2 more innovative products.
What advice do you have for entrepreneurs?
Find Mentors, great Advisors, and use iKnowWare!
the three i's if iKnowWare.... Innovation, Information, as delivered via the
Interactive Internet. Use iKnowWare as it gives your Team the transparency to
execute, deliver, and reduce the number of mistakes made as you grow. Check out this article.
Best regards,
Hall T.
Where are you from originally?
18 years in Bloomington, Indiana .... Chicago's North Shore before that
What university did you go to?
Indiana University... Home of CEO's John Chambers/Cisco and Mark Cuban/Owner of the Dallas Mavericks graduated from IU's SOB (School of Business)
What brought you to Austin?
Oracle Corporation in 1999 - part of a "SWAT" Team as the "Internet Changes
Everything"
What is the idea behind your startup?
At Oracle E-Travel we used 'Salesforce.com' and I could NOT generate an Invoice, see Inventory, look at Projects, and personalize what I wanted to see in business.
What need does it fulfill?
Elimination of costly "silo" applications. The need to simplify and unify all
business communications based on the individual workers role and privilege.
What exactly does your product do?
An easy to use, fast/secure and personalized mobile internet view of business
functions of Marketing, Sales, Inventory, Project/Tasks Management, real-time
reporting, Case/Knowledge Management, and messaging. iKnowWare my Sales are... iKnowWare my Inventory is... get it
Who is it for?
Small to Medium (SMB) businesses who want to simply "Turn On Your Business" with ease of a Swiss Army Knife with deep personalization in industry language for high adoption and utilization (and ROI of course!)
What was the most challenging aspect of starting up a business?
People... its all about People (motivate, listen, inspire, lead by example, each as
an owner) and focus to simplify Process for productivity and profits to exist.
What is the next step for you and your startup?
Growth capital of $5M and a secured credit facility of an additional $5M; grow to
$184M by 2012; launch 2 more innovative products.
What advice do you have for entrepreneurs?
Find Mentors, great Advisors, and use iKnowWare!
the three i's if iKnowWare.... Innovation, Information, as delivered via the
Interactive Internet. Use iKnowWare as it gives your Team the transparency to
execute, deliver, and reduce the number of mistakes made as you grow. Check out this article.
Best regards,
Hall T.
Wednesday, May 27, 2009
Kevin Leahy of Knowledge Advocate Talks about His Startup
Kevin Leahy of Knowledge Advocate Talks about His Startup
Where are you from originally?
I was born in New Jersey, lost my Yankee accent in North Carolina, accelerated my appreciation for wine and food in California, met the love of my life in Manhattan, romanced in Brooklyn, and eventually landed in the Great State of Texas.
What university did you go to?
My economics undergraduate degree is from Duke University and I earned my law degree from University of California, Los Angeles (UCLA).
What brought you to Austin?
My wife and I sought out a young, vibrant, smart town that was close to where she grew up (San Antonio).
What is the idea behind Knowledge Advocate, LLC?
After 15 years of preparing and examining witnesses for trial, I saw the opportunity to create an on-demand interview company. The company helps clients with pre-hire, exit, performance, and other interview needs. The skills and training of a trial attorney are well-suited to capture and transfer critical corporate know-how. Employee knowledge matters and is often hard to collect and organize. I saw a niche need for professional questioners who could interview people at the highest levels to connect and pattern their essential corporate knowledge and pass it along in a meaningful way to those who need to access and know it.
What need does it fulfill?
Consultants, businesses and individuals have limited access to expert questioners absent being deposed by a lawyer, written up by a journalist for a story, or analyzed by a therapist. Knowledge Advocate fills the need to interview pre-hire candidates and perform exit interviews with the highest possible skills available. The company uses its questioning abilities in business consults to execute comprehensive succession plans and facilitate communication, productivity, and change management opportunities. Knowledge Advocate also teams with other business consultants to accentuate expertise in fields including organizational dynamics, economics, and web analytics with a professional questioner who drills down and gets to the bottom of client concerns, roadblocks, and problems. The point is that when professional answerers (the consultants) get together with professional questioners (Knowledge Advocate), the effort results in great consults.
What exactly does your service do?
Depending on the client, Knowledge Advocate researches hiring needs, evaluates concerns about losing knowledge held by departing employees, and explores the need for succession plans of senior leaders and business owners. Investigation and preparation quickly turn into action: interviews happen that maximize access to the highest quality of high quantity, relevant business information. We pinpoint what the client needs to know, protect it (with transcripts and video, as needed), and pass it on to those individuals that depend on it for future business success and smart, well-informed decisions. Because of our unique third-party role, Knowledge Advocate clarifies the insight and meaning of what employees know, a process that drives outcomes including faster decisions and solid solutions. Always, the professional level of questioning leads to a deep, documented awareness of how and why things get done and by whom.
Who is it for?
On-demand questioning and interviewing skills are well-suited for business clients including senior leaders and HR departments who understand the value of a professional who conducts top notch interviews and champions knowledge capture and transfer needs. Available knowledge that is capitalized on in this way becomes a competitive advantage. Consultants also use Knowledge Advocate to round out their expertise with a subcontracted expert questioner who dives deep to connect and pattern the clients' opportunities and constraints with the consultant's expert advice. Individuals also rely on the company as a soundboard for tracking their own thoughts and capturing critical insight into business and personal challenges; the effort produces instant 360 evaluations and trends the individual's thoughts in a comprehensive, actionable way.
What was the most challenging aspect of starting up a business?
Educating potential clients about the value of a professional questioner is a continuing challenge. No business owner would consciously hire amateurs to perform their interview work. Still, because few companies offer on-demand questioning and interviewing services the accepted practice is to permit employees who may not be expert questioners to conduct critical pre-hire, exit, and system wide interviews like performance evaluations. Getting the word out about professional questioning and comparing Knowledge Advocate's service to already existing services like business consulting and coaching has been a challenge as well because what Knowledge Advocate does is not exactly the same as what coaches or consultants do.
What is the next step for you and your company?
I have become a thought leader in the field of professional questioning and interviewing. Because clients express needs in this area, Knowledge Advocate conducts seminars that teach employees how to improve their questioning skills to get better interview results. The company is also teaming with web and enterprise analytics professionals to leverage technology that can trend employee knowledge over several quarters to understand where the company is, where it is heading, and why what the company knows at the employee level matters. Knowledge Advocate's partnership with business consultants rounds out the continued practice of high end questioning in fields as diverse as investment banking, economic development, and non-profit management.
What advice do you have for entrepreneurs?
Use your existing skills to leverage a passion that fits a market need. I know, sounds a lot easier than it is. Mostly, believe in yourself and your skill set and know that it can and will deliver outstanding results that provide you the courage to go out and sell your stuff to buyers who turn into satisfied customers.
What Austin-based resource have you found to be the most helpful and why?
A nod goes to Hall Martin and his Entrepreneur Network, his organization conducts a class in conjunction with the Acton MBA that is excellent for new business owners. Additional resources have included a small group of peers that met to discuss solopreneur challenges, Bootstrap Austin's many helpful members, advice from non-profit colleagues (non-profit service has led to my relationships with a diverse and vibrant group, Leadership Austin alumns offer particularly strong counsel), friends, family, and most important, the adventurous innovators who became my first clients. In the end, those closest to me have been the most supportive, cheer-oriented group an entrepreneur could hope for. They serve as excellent guides through the difficult, life-changing decisions that make up the entrepreneur's journey.
Where are you from originally?
I was born in New Jersey, lost my Yankee accent in North Carolina, accelerated my appreciation for wine and food in California, met the love of my life in Manhattan, romanced in Brooklyn, and eventually landed in the Great State of Texas.
What university did you go to?
My economics undergraduate degree is from Duke University and I earned my law degree from University of California, Los Angeles (UCLA).
What brought you to Austin?
My wife and I sought out a young, vibrant, smart town that was close to where she grew up (San Antonio).
What is the idea behind Knowledge Advocate, LLC?
After 15 years of preparing and examining witnesses for trial, I saw the opportunity to create an on-demand interview company. The company helps clients with pre-hire, exit, performance, and other interview needs. The skills and training of a trial attorney are well-suited to capture and transfer critical corporate know-how. Employee knowledge matters and is often hard to collect and organize. I saw a niche need for professional questioners who could interview people at the highest levels to connect and pattern their essential corporate knowledge and pass it along in a meaningful way to those who need to access and know it.
What need does it fulfill?
Consultants, businesses and individuals have limited access to expert questioners absent being deposed by a lawyer, written up by a journalist for a story, or analyzed by a therapist. Knowledge Advocate fills the need to interview pre-hire candidates and perform exit interviews with the highest possible skills available. The company uses its questioning abilities in business consults to execute comprehensive succession plans and facilitate communication, productivity, and change management opportunities. Knowledge Advocate also teams with other business consultants to accentuate expertise in fields including organizational dynamics, economics, and web analytics with a professional questioner who drills down and gets to the bottom of client concerns, roadblocks, and problems. The point is that when professional answerers (the consultants) get together with professional questioners (Knowledge Advocate), the effort results in great consults.
What exactly does your service do?
Depending on the client, Knowledge Advocate researches hiring needs, evaluates concerns about losing knowledge held by departing employees, and explores the need for succession plans of senior leaders and business owners. Investigation and preparation quickly turn into action: interviews happen that maximize access to the highest quality of high quantity, relevant business information. We pinpoint what the client needs to know, protect it (with transcripts and video, as needed), and pass it on to those individuals that depend on it for future business success and smart, well-informed decisions. Because of our unique third-party role, Knowledge Advocate clarifies the insight and meaning of what employees know, a process that drives outcomes including faster decisions and solid solutions. Always, the professional level of questioning leads to a deep, documented awareness of how and why things get done and by whom.
Who is it for?
On-demand questioning and interviewing skills are well-suited for business clients including senior leaders and HR departments who understand the value of a professional who conducts top notch interviews and champions knowledge capture and transfer needs. Available knowledge that is capitalized on in this way becomes a competitive advantage. Consultants also use Knowledge Advocate to round out their expertise with a subcontracted expert questioner who dives deep to connect and pattern the clients' opportunities and constraints with the consultant's expert advice. Individuals also rely on the company as a soundboard for tracking their own thoughts and capturing critical insight into business and personal challenges; the effort produces instant 360 evaluations and trends the individual's thoughts in a comprehensive, actionable way.
What was the most challenging aspect of starting up a business?
Educating potential clients about the value of a professional questioner is a continuing challenge. No business owner would consciously hire amateurs to perform their interview work. Still, because few companies offer on-demand questioning and interviewing services the accepted practice is to permit employees who may not be expert questioners to conduct critical pre-hire, exit, and system wide interviews like performance evaluations. Getting the word out about professional questioning and comparing Knowledge Advocate's service to already existing services like business consulting and coaching has been a challenge as well because what Knowledge Advocate does is not exactly the same as what coaches or consultants do.
What is the next step for you and your company?
I have become a thought leader in the field of professional questioning and interviewing. Because clients express needs in this area, Knowledge Advocate conducts seminars that teach employees how to improve their questioning skills to get better interview results. The company is also teaming with web and enterprise analytics professionals to leverage technology that can trend employee knowledge over several quarters to understand where the company is, where it is heading, and why what the company knows at the employee level matters. Knowledge Advocate's partnership with business consultants rounds out the continued practice of high end questioning in fields as diverse as investment banking, economic development, and non-profit management.
What advice do you have for entrepreneurs?
Use your existing skills to leverage a passion that fits a market need. I know, sounds a lot easier than it is. Mostly, believe in yourself and your skill set and know that it can and will deliver outstanding results that provide you the courage to go out and sell your stuff to buyers who turn into satisfied customers.
What Austin-based resource have you found to be the most helpful and why?
A nod goes to Hall Martin and his Entrepreneur Network, his organization conducts a class in conjunction with the Acton MBA that is excellent for new business owners. Additional resources have included a small group of peers that met to discuss solopreneur challenges, Bootstrap Austin's many helpful members, advice from non-profit colleagues (non-profit service has led to my relationships with a diverse and vibrant group, Leadership Austin alumns offer particularly strong counsel), friends, family, and most important, the adventurous innovators who became my first clients. In the end, those closest to me have been the most supportive, cheer-oriented group an entrepreneur could hope for. They serve as excellent guides through the difficult, life-changing decisions that make up the entrepreneur's journey.
Friday, May 22, 2009
Curtis Maly of Flex-CFO Talks about His Startup
Curtis Maly of Flex-CFO Talks about His Startup
Where are you from originally?
The Midwest. Born in Ames, Iowa. Later spent time in Ann Arbor, Michigan before heading West to Colorado and eventually heading down to Austin.
What university did you go to?
Undergrad in Mechanical Engineering from Iowa State University. MBA in corporate strategy and finance from the University of Michigan's Ross School of
Business.
What brought you to Austin?
Opportunity to do mergers & acquisitions in the semiconductor space.
What is the idea behind flex-CFO?
Using Finance & Strategy to enable Start-ups, Company Executives, and Boards to make key decisions, coordinate financing, and efficiently execute on Deals (M&A).
What need does flex-CFO fulfill?
Many companies (start-ups, smaller private companies, etc.) need Executive caliber help in key areas such as: Executive Decision Support, Strategy, M&A Advisory, and Buying or Selling a Business. flex-CFO provides executive level support in each of these areas.
What exactly do you do?
Decision Support: Financing (Angel, Seed, Series A...), Presentation to Investors,
Preparation for Board Meetings, Financial Forecasting/Modeling, Cash flow.
Strategy: Planning, Competitive Analysis, Pricing, Go to Market, etc.
M&A: Acquisitions, Divestitures, Joint Ventures, Licensing, Transaction Deal Lead. Buy or Sell a Business: Valuation Modeling, Marketing, Prospecting, and
Transaction Execution.
Who is it for?
Start-up executives, founders, board of directors, investors, and family business Owners.
What is the most rewarding aspect of your business?
We all have our areas of strength. Many very successful entrepreneurs and business Leaders are constantly pulled in many directions. flex-CFO provides support and Partners with our clients to bring Executive caliber support in finance, strategy, and M&A advisory delivered on a flexible as needed basis.
What is the next step for you and Flex-CFO?
Developing our Brand and growing our Client base. Flex-CFO serves a niche as a
company's executive decision partner. The emphasis is to bring Executive caliber support to our clients and Partner with existing Management.
What advice do you have for entrepreneurs?
Think about the prize. Understanding what the perfect end game would look like for the Entrepreneur will impact many early decisions. For example, different funding paths (Angel, Bootstrap, VC) have a dramatic impact on control, timing, and economics for a new business. Each path has its own benefits and risks,
understanding these different funding paths early on can help the Entrepreneur be both successful and happy!
Best regards,
Hall T.
Where are you from originally?
The Midwest. Born in Ames, Iowa. Later spent time in Ann Arbor, Michigan before heading West to Colorado and eventually heading down to Austin.
What university did you go to?
Undergrad in Mechanical Engineering from Iowa State University. MBA in corporate strategy and finance from the University of Michigan's Ross School of
Business.
What brought you to Austin?
Opportunity to do mergers & acquisitions in the semiconductor space.
What is the idea behind flex-CFO?
Using Finance & Strategy to enable Start-ups, Company Executives, and Boards to make key decisions, coordinate financing, and efficiently execute on Deals (M&A).
What need does flex-CFO fulfill?
Many companies (start-ups, smaller private companies, etc.) need Executive caliber help in key areas such as: Executive Decision Support, Strategy, M&A Advisory, and Buying or Selling a Business. flex-CFO provides executive level support in each of these areas.
What exactly do you do?
Decision Support: Financing (Angel, Seed, Series A...), Presentation to Investors,
Preparation for Board Meetings, Financial Forecasting/Modeling, Cash flow.
Strategy: Planning, Competitive Analysis, Pricing, Go to Market, etc.
M&A: Acquisitions, Divestitures, Joint Ventures, Licensing, Transaction Deal Lead. Buy or Sell a Business: Valuation Modeling, Marketing, Prospecting, and
Transaction Execution.
Who is it for?
Start-up executives, founders, board of directors, investors, and family business Owners.
What is the most rewarding aspect of your business?
We all have our areas of strength. Many very successful entrepreneurs and business Leaders are constantly pulled in many directions. flex-CFO provides support and Partners with our clients to bring Executive caliber support in finance, strategy, and M&A advisory delivered on a flexible as needed basis.
What is the next step for you and Flex-CFO?
Developing our Brand and growing our Client base. Flex-CFO serves a niche as a
company's executive decision partner. The emphasis is to bring Executive caliber support to our clients and Partner with existing Management.
What advice do you have for entrepreneurs?
Think about the prize. Understanding what the perfect end game would look like for the Entrepreneur will impact many early decisions. For example, different funding paths (Angel, Bootstrap, VC) have a dramatic impact on control, timing, and economics for a new business. Each path has its own benefits and risks,
understanding these different funding paths early on can help the Entrepreneur be both successful and happy!
Best regards,
Hall T.
Wednesday, May 20, 2009
Thomas Sheahan Talks about His Startup Called Red Oxygen
Thomas Sheahan Talks about His Startup Called Red Oxygen
Where are you from originally?
I was born in Chicago. I grew up in Connecticut and Dallas.
What university did you go to?
SMU
What brought you to Austin?
It was close to Dallas. The Sarah Palin sticker moratorium
What is the idea behind your start-up?
The belief that business would want to leverage their existing IT infrastructure to send out text messages to the 4 Billion cell phones to employees, students or customers.
What need does it fulfill?
Quick, instant, cost-effective communications to the 4 billion cell phones
What exactly does your product do?
Allows businesses to send text messages from Microsoft Outlook, Microsoft Excel, Lotus Notes, the web or any CRM solution, and the recipients can reply back into the applications.
Who is it for?
Businesses ( Small to Large), Churches, Schools, Universities, Sport Clubs , Governments.
What was the most challenging aspect of starting up a business?
Having enough capital
What is the next step for you and your start-up?
Raising capital, growing our US customer base
What advice do you have for entrepreneurs?
Every mistake you have been warned about - you will do. Listen to people with grey hair! Try to find a mentor that you trust and admire, not because he is wealthy but he is the type of person you want to become. They will help you look at the forest from the trees. You are not different – you will have many successes and failures, enjoy them all equally.
What Austin-based resource have you found to be the most helpful and why?
High-Tech Happy hours!
Best regards,
Hall T.
Where are you from originally?
I was born in Chicago. I grew up in Connecticut and Dallas.
What university did you go to?
SMU
What brought you to Austin?
It was close to Dallas. The Sarah Palin sticker moratorium
What is the idea behind your start-up?
The belief that business would want to leverage their existing IT infrastructure to send out text messages to the 4 Billion cell phones to employees, students or customers.
What need does it fulfill?
Quick, instant, cost-effective communications to the 4 billion cell phones
What exactly does your product do?
Allows businesses to send text messages from Microsoft Outlook, Microsoft Excel, Lotus Notes, the web or any CRM solution, and the recipients can reply back into the applications.
Who is it for?
Businesses ( Small to Large), Churches, Schools, Universities, Sport Clubs , Governments.
What was the most challenging aspect of starting up a business?
Having enough capital
What is the next step for you and your start-up?
Raising capital, growing our US customer base
What advice do you have for entrepreneurs?
Every mistake you have been warned about - you will do. Listen to people with grey hair! Try to find a mentor that you trust and admire, not because he is wealthy but he is the type of person you want to become. They will help you look at the forest from the trees. You are not different – you will have many successes and failures, enjoy them all equally.
What Austin-based resource have you found to be the most helpful and why?
High-Tech Happy hours!
Best regards,
Hall T.
Monday, May 18, 2009
Clifton Hargrove of CastVent Talks about His Startup
Clifton Hargrove of CastVent Talks about His Startup
Where are you from originally?
I grew up in Central Florida. My parents still live there in Ocala. I went to school in Orlando, FL and worked over at Kennedy Space Center for 7 years before coming to Texas.
What university did you go to?
I originally went to the University of Central Florida. Received a Bachelors in Electronics and a Masters in Computer Systems. Then in 2005 I went to St. Edwards and received my MBA in August 2007.
What brought you to Austin?
Originally I was in the space program. Back in the late 80’s, early 90’s there was a lot of contract consolidation and it was obvious that was not a good long term career move. I was offered a job here in Austin in the semiconductor business. Then I figured out that the semiconductor business only has two modes, one is they cannot hire fast enough, the second is they cannot lay off people fast enough! So then I joined a VC funded software company here in Austin. I rode that through two major acquisitions and then decided to start Cast Vent, LLC.
What is the idea behind your startup?
I had a motorcycle wreck and broke my left wrist pretty bad. I ended up having surgery on it and wore a cast for weeks. The itch was driving me nuts. I ended up going to the store and buying a dremel tool and drilled holes in the cast so I could attach an air pump and blow warm air inside of it to make it stop itching. It worked beautifully. After about a week of using an air mattress air pump I started experimenting with different pumps, then it occurred to me that this would make a terrific product. No one ever offered me anything to address cast itch. I searched the internet, still could not find anything. So I designed cast vents and pumps.
What need does it fulfill?
It makes your cast stop itching. Ask anybody that has ever had a cast. They itch. Cast vents allow you to do something about cast itch.
What exactly does your product do?
The construction of a cast is actually quite simple. First you cover the area to be cast with a stocking, then you wrap cotton padding around it and finally you wrap it with fiberglass tape. Cast vents allow you to construct a cast and leave a circular or cylindrical hole through the fiberglass and cotton. Once you are done and have worn the cast for a few days (and have muscle atrophy), you can then attach a mating air pump (called a cast vent pump) and blow warm air inside the cast. This drys it out and makes it stop itching.
Who is it for?
Anbody that has a cast. There is one doctor doing testing with specialized applications like diabetics in casts, but cast vents are really aimed at anybody that has a cast. There are two groups of people that are no brainers, anybody that has ever had a cast before because they know how bad they itch. The second group is parents because they want to make their kids more comfortable.
What was the most challenging aspect of starting up a business?
Getting in to see doctors and the fact that doctors, as a group, are extremely conservative. Cast vents have to be built in to the cast itself so it has to be sold through a hospital or doctors office. I have been giving vents and pumps away for free to get them to use them. Once they hear from the patients that it works and how much they like it, then they start offering it. However, it is slow because it takes 4-6 weeks from the time they first put it in before they get feedback. Another aspect that is challenging is the fact that it isn’t covered by insurance. The patient has to pay for it themselves. In today’s economy people don’t want to spend money.
What is the next step for you and your startup?
I am looking for angel funding to hire some sales people. One thing I have learned is that the medical profession is all about personal relationships. It takes time to establish them so I am looking to hire some professional sales people with established relationships with orthopedic doctors. Once I can hire some professional sales people, then I expect things to really ramp pretty quickly. I also need to develop better marketing materials and start marketing it on a broader scale. Right now I am just focused on the major metropolitan areas in Texas.
What advice do you have for entrepreneurs?
One thing I have heard while trying to raise money is the acronym “PRO”, pessimistic, realistic and optimistic. Plan based on pessimistic. If things turn out better or faster than your pessimistic plan, that is great, but don’t plan on the optimistic side of things.
Another thought is to talk to people. You will be amazed at how many people know somebody that can help. I was talking to a lady buying some stuff from me off of craig’s list. Turns out she knew quite a bit about the medical field and I got some really good advice about how to approach hospitals and group purchasing organizations. Another example is I was talking to neighbor about his jeep and it turns out he works at one of the largest orthopedic practices in Texas. Plus you can go to lunch or dinner with friends and tell them about it. You simply cannot network enough.
One other thought is do not assume you know THE way forward. You may know of A way forward, but stay open. I have been very surprised at how many ways you can sell cast vents and pumps. Even today, if things changed I would be open to changing the strategy.
What Austin-based resource have you found to be the most helpful and why?
Networkinaustin.com has been very helpful.
Best regards,
Hall T.
Where are you from originally?
I grew up in Central Florida. My parents still live there in Ocala. I went to school in Orlando, FL and worked over at Kennedy Space Center for 7 years before coming to Texas.
What university did you go to?
I originally went to the University of Central Florida. Received a Bachelors in Electronics and a Masters in Computer Systems. Then in 2005 I went to St. Edwards and received my MBA in August 2007.
What brought you to Austin?
Originally I was in the space program. Back in the late 80’s, early 90’s there was a lot of contract consolidation and it was obvious that was not a good long term career move. I was offered a job here in Austin in the semiconductor business. Then I figured out that the semiconductor business only has two modes, one is they cannot hire fast enough, the second is they cannot lay off people fast enough! So then I joined a VC funded software company here in Austin. I rode that through two major acquisitions and then decided to start Cast Vent, LLC.
What is the idea behind your startup?
I had a motorcycle wreck and broke my left wrist pretty bad. I ended up having surgery on it and wore a cast for weeks. The itch was driving me nuts. I ended up going to the store and buying a dremel tool and drilled holes in the cast so I could attach an air pump and blow warm air inside of it to make it stop itching. It worked beautifully. After about a week of using an air mattress air pump I started experimenting with different pumps, then it occurred to me that this would make a terrific product. No one ever offered me anything to address cast itch. I searched the internet, still could not find anything. So I designed cast vents and pumps.
What need does it fulfill?
It makes your cast stop itching. Ask anybody that has ever had a cast. They itch. Cast vents allow you to do something about cast itch.
What exactly does your product do?
The construction of a cast is actually quite simple. First you cover the area to be cast with a stocking, then you wrap cotton padding around it and finally you wrap it with fiberglass tape. Cast vents allow you to construct a cast and leave a circular or cylindrical hole through the fiberglass and cotton. Once you are done and have worn the cast for a few days (and have muscle atrophy), you can then attach a mating air pump (called a cast vent pump) and blow warm air inside the cast. This drys it out and makes it stop itching.
Who is it for?
Anbody that has a cast. There is one doctor doing testing with specialized applications like diabetics in casts, but cast vents are really aimed at anybody that has a cast. There are two groups of people that are no brainers, anybody that has ever had a cast before because they know how bad they itch. The second group is parents because they want to make their kids more comfortable.
What was the most challenging aspect of starting up a business?
Getting in to see doctors and the fact that doctors, as a group, are extremely conservative. Cast vents have to be built in to the cast itself so it has to be sold through a hospital or doctors office. I have been giving vents and pumps away for free to get them to use them. Once they hear from the patients that it works and how much they like it, then they start offering it. However, it is slow because it takes 4-6 weeks from the time they first put it in before they get feedback. Another aspect that is challenging is the fact that it isn’t covered by insurance. The patient has to pay for it themselves. In today’s economy people don’t want to spend money.
What is the next step for you and your startup?
I am looking for angel funding to hire some sales people. One thing I have learned is that the medical profession is all about personal relationships. It takes time to establish them so I am looking to hire some professional sales people with established relationships with orthopedic doctors. Once I can hire some professional sales people, then I expect things to really ramp pretty quickly. I also need to develop better marketing materials and start marketing it on a broader scale. Right now I am just focused on the major metropolitan areas in Texas.
What advice do you have for entrepreneurs?
One thing I have heard while trying to raise money is the acronym “PRO”, pessimistic, realistic and optimistic. Plan based on pessimistic. If things turn out better or faster than your pessimistic plan, that is great, but don’t plan on the optimistic side of things.
Another thought is to talk to people. You will be amazed at how many people know somebody that can help. I was talking to a lady buying some stuff from me off of craig’s list. Turns out she knew quite a bit about the medical field and I got some really good advice about how to approach hospitals and group purchasing organizations. Another example is I was talking to neighbor about his jeep and it turns out he works at one of the largest orthopedic practices in Texas. Plus you can go to lunch or dinner with friends and tell them about it. You simply cannot network enough.
One other thought is do not assume you know THE way forward. You may know of A way forward, but stay open. I have been very surprised at how many ways you can sell cast vents and pumps. Even today, if things changed I would be open to changing the strategy.
What Austin-based resource have you found to be the most helpful and why?
Networkinaustin.com has been very helpful.
Best regards,
Hall T.
Wednesday, May 13, 2009
Dan Christensen of MedStar Talks about His Startup
Dan Christensen of MedStar Talks about His Startup
Where are you from originally?
NEWELL, IOWA. A SMALL TOWN IN THE NORTHWEST PART OF THE STATE.
What university did you go to?
UNIVERSITY OF IOWA BUSINESS SCHOOL and the UNIVERSITY OF IOWA LAW SCHOOL
What brought you to Austin?
I SERVED AS AN ATTORNEY IN THE ARMY JUDGE ADVOCATE GENERAL'S (JAG) CORPS AND THEN TOOK A JOB WITH A LOCAL FIRM THAT WAS INTERESTED IN OPENING AUSTIN OFFICES.
What is the idea behind your startup?
TO PROVIDE A MEANS FOR PEOPLE WITHOUT HEALTH INSURANCE TO GET THE TREATMENT THEY NEED WHEN THEY ARE INJURED DUE TO SOMEONE ELSE'S NEGLIGENCE. FOR MANY OF THESE VICTIMS, THEY HAVE NO ASSET OTHER THAN THEIR CLAIM OR LAWSUIT AGAINST THE AT-FAULT PARTY WHO HURT THEM. THEY NEED A WAY TO "COLLATERALIZE" THAT ASSET IN ORDER TO GET THEIR TREATMENT.
What need does it fulfill?
IT ALLOWS INJURED INDIVIDUALS WITHOUT HEALTH INSURANCE TO GET NEEDED TREATMENT. IT ENABLES THESE INDIVIDUALS' LAWYERS TO ENSURE THE INDIVIDUALS GET FULLY COMPENSATED. IT PROVIDES A WAY FOR THE DOCTORS TO PROVIDE TREATMENT TO PATIENTS WHO WOULD OTHERWISE NOT BE ABLE TO GET IT.
What exactly does your product do?
THE "PRODUCT" IS REALLY A SERVICE. WE PURCHASE BILLS FROM MEDICAL PROVIDERS FOR TREATMENT PERFORMED ON PEOPLE WHO HAVE PERSONAL INJURY CLAIMS OR LAWSUITS. WE PURCHASE THE BILLS AT A DISCOUNT AND THEN MAINTAIN A LIEN AGAINST THE PATIENTS' CASES IN THE AMOUNT OF THE DOCTORS' FULL BILL.
Who is it for?
IT IS FOR PEOPLE WHO ARE INJURED DUE TO SOMEONE ELSE'S NEGLIGENCE AND NEED TREATMENT BUT HAVE NO WAY TO PAY FOR IT. IT IS FOR THOSE PEOPLES' LAWYERS WHO NEED TO GET THEIR CLIENTS TREATMENT IN ORDER TO SUCCESSFULLY RESOLVE THEIR CASES. LASTLY, IT IS FOR DOCTORS WHO WANT TO TREAT THESE PEOPLE, BUT ALSO WANT A SAFE, EASY, GUARANTEED WAY TO GET PAID FOR THEIR SERVICES.
What was the most challenging aspect of starting up a business?
OBTAINING SUFFICIENT FUNDING. MANY OF THE MEDICAL BILLS WE PURCHASE ARE FOR $50,000 OR MORE, SO WE ARE IN CONSTANT NEED OF FUNDS.
What is the next step for you and your startup?
WE ARE IN THE MIDST OF DEPLOYING A RECENT ROUND OF FUNDING. WE ARE ALSO FOCUSING ON RAISING THE NEXT ROUND THAT IS PROJECTED TO CLOSE AT THE END OF THE SUMMER. BECAUSE OF THE RATE THE POOLS OF FUNDS GROW, THIS COULD BE OUR LAST ROUND WHICH WILL BE A RELIEF. THIS NEXT ROUND SHOULD ENABLE US TO TAKE ON SOME OF THE BUSINESS WE HAVE HAD TO TURN AWAY OVER THE LAST COUPLE OF MONTHS.
What advice do you have for entrepreneurs?
STAY POSITIVE AND BE COMMITTED. EVERY OTHER ENTREPRENEUR I HAVE EVER SPOKEN WITH HAS CONFIRMED MY EXPERIENCE THAT THERE WILL BE MANY DISAPPOINTMENTS ALONG THE WAY. IT IS IMPORTANT TO KNOW TO YOUR CORE THAT THIS IS WHAT YOU WANT SO THAT YOU CAN STAY POSITIVE AND REMAIN COMMITTED TO YOUR PATH DURING ROUGH TIMES. OH, AND DON'T DO IT FOR THE MONEY. THERE ARE LOTS EASIER WAYS TO MAKE MONEY THAN TO WORK 100 HOURS A WEEK, RISK FINANCIAL RUIN AND PUBLIC EMBARRASSMENT, AND STILL, ULTIMATELY, WORK FOR SOMEONE ELSE (THE INVESTOR). YOU HAVE TO BE SURE YOU WANT IT FOR SOME OTHER REASON THAN JUST MAKING MONEY.
What Austin-based resource have you found to be the most helpful and why?
MANY OF AUSTIN'S RESOURCES ARE AIMED AT HIGH TECH. THAT IS NOT MY BUSINESS SO I HAVE HAD TO GO OUTSIDE OF AUSTIN FOR MUCH OF MY RESEARCH AND MONEY. THE AUSTIN ENTREPRENEUR NETWORK'S WEBSITE AND CLASSES HAVE BEEN GREAT. WITHOUT FAIL, WHEN I GO THERE OR DEAL WITH SOMEONE FROM THERE, I LEAVE WITH NEW IDEAS AND PERSPECTIVES THAT I CAN EMPLOY IN MY BUSINESS. THAT MAY SOUND A STAGED ENDORSEMENT, BUT IT IS NOT - IT IS THE TRUTH.
Best regards,
Hall T.
Where are you from originally?
NEWELL, IOWA. A SMALL TOWN IN THE NORTHWEST PART OF THE STATE.
What university did you go to?
UNIVERSITY OF IOWA BUSINESS SCHOOL and the UNIVERSITY OF IOWA LAW SCHOOL
What brought you to Austin?
I SERVED AS AN ATTORNEY IN THE ARMY JUDGE ADVOCATE GENERAL'S (JAG) CORPS AND THEN TOOK A JOB WITH A LOCAL FIRM THAT WAS INTERESTED IN OPENING AUSTIN OFFICES.
What is the idea behind your startup?
TO PROVIDE A MEANS FOR PEOPLE WITHOUT HEALTH INSURANCE TO GET THE TREATMENT THEY NEED WHEN THEY ARE INJURED DUE TO SOMEONE ELSE'S NEGLIGENCE. FOR MANY OF THESE VICTIMS, THEY HAVE NO ASSET OTHER THAN THEIR CLAIM OR LAWSUIT AGAINST THE AT-FAULT PARTY WHO HURT THEM. THEY NEED A WAY TO "COLLATERALIZE" THAT ASSET IN ORDER TO GET THEIR TREATMENT.
What need does it fulfill?
IT ALLOWS INJURED INDIVIDUALS WITHOUT HEALTH INSURANCE TO GET NEEDED TREATMENT. IT ENABLES THESE INDIVIDUALS' LAWYERS TO ENSURE THE INDIVIDUALS GET FULLY COMPENSATED. IT PROVIDES A WAY FOR THE DOCTORS TO PROVIDE TREATMENT TO PATIENTS WHO WOULD OTHERWISE NOT BE ABLE TO GET IT.
What exactly does your product do?
THE "PRODUCT" IS REALLY A SERVICE. WE PURCHASE BILLS FROM MEDICAL PROVIDERS FOR TREATMENT PERFORMED ON PEOPLE WHO HAVE PERSONAL INJURY CLAIMS OR LAWSUITS. WE PURCHASE THE BILLS AT A DISCOUNT AND THEN MAINTAIN A LIEN AGAINST THE PATIENTS' CASES IN THE AMOUNT OF THE DOCTORS' FULL BILL.
Who is it for?
IT IS FOR PEOPLE WHO ARE INJURED DUE TO SOMEONE ELSE'S NEGLIGENCE AND NEED TREATMENT BUT HAVE NO WAY TO PAY FOR IT. IT IS FOR THOSE PEOPLES' LAWYERS WHO NEED TO GET THEIR CLIENTS TREATMENT IN ORDER TO SUCCESSFULLY RESOLVE THEIR CASES. LASTLY, IT IS FOR DOCTORS WHO WANT TO TREAT THESE PEOPLE, BUT ALSO WANT A SAFE, EASY, GUARANTEED WAY TO GET PAID FOR THEIR SERVICES.
What was the most challenging aspect of starting up a business?
OBTAINING SUFFICIENT FUNDING. MANY OF THE MEDICAL BILLS WE PURCHASE ARE FOR $50,000 OR MORE, SO WE ARE IN CONSTANT NEED OF FUNDS.
What is the next step for you and your startup?
WE ARE IN THE MIDST OF DEPLOYING A RECENT ROUND OF FUNDING. WE ARE ALSO FOCUSING ON RAISING THE NEXT ROUND THAT IS PROJECTED TO CLOSE AT THE END OF THE SUMMER. BECAUSE OF THE RATE THE POOLS OF FUNDS GROW, THIS COULD BE OUR LAST ROUND WHICH WILL BE A RELIEF. THIS NEXT ROUND SHOULD ENABLE US TO TAKE ON SOME OF THE BUSINESS WE HAVE HAD TO TURN AWAY OVER THE LAST COUPLE OF MONTHS.
What advice do you have for entrepreneurs?
STAY POSITIVE AND BE COMMITTED. EVERY OTHER ENTREPRENEUR I HAVE EVER SPOKEN WITH HAS CONFIRMED MY EXPERIENCE THAT THERE WILL BE MANY DISAPPOINTMENTS ALONG THE WAY. IT IS IMPORTANT TO KNOW TO YOUR CORE THAT THIS IS WHAT YOU WANT SO THAT YOU CAN STAY POSITIVE AND REMAIN COMMITTED TO YOUR PATH DURING ROUGH TIMES. OH, AND DON'T DO IT FOR THE MONEY. THERE ARE LOTS EASIER WAYS TO MAKE MONEY THAN TO WORK 100 HOURS A WEEK, RISK FINANCIAL RUIN AND PUBLIC EMBARRASSMENT, AND STILL, ULTIMATELY, WORK FOR SOMEONE ELSE (THE INVESTOR). YOU HAVE TO BE SURE YOU WANT IT FOR SOME OTHER REASON THAN JUST MAKING MONEY.
What Austin-based resource have you found to be the most helpful and why?
MANY OF AUSTIN'S RESOURCES ARE AIMED AT HIGH TECH. THAT IS NOT MY BUSINESS SO I HAVE HAD TO GO OUTSIDE OF AUSTIN FOR MUCH OF MY RESEARCH AND MONEY. THE AUSTIN ENTREPRENEUR NETWORK'S WEBSITE AND CLASSES HAVE BEEN GREAT. WITHOUT FAIL, WHEN I GO THERE OR DEAL WITH SOMEONE FROM THERE, I LEAVE WITH NEW IDEAS AND PERSPECTIVES THAT I CAN EMPLOY IN MY BUSINESS. THAT MAY SOUND A STAGED ENDORSEMENT, BUT IT IS NOT - IT IS THE TRUTH.
Best regards,
Hall T.
Monday, May 11, 2009
Chris Travis of Nidiant Talks about His Startup
Chris Travis of Nidiant Talks about His Startup
Where are you from originally?
I was born in Dallas, raised in Waco, went to school in Austin. (I am a "son of the Republic of Texas" so my family has been here since Texas was a Republic.)
What university did you go to?
I went to school at UT Austin, McClennan Co. Community college and at St. Edwards University. To be honest, mostly I partied. Life is the university in which I learned the most.
What brought you to Austin?
The architecture firm of which I am Managing Partner has an office there. Two of my three children live there and all my grandchildren - but since early February I have been coming there to network and get involved in the startup community as we are getting close to going to market and plan to have our offices in Austin.
What is the idea behind your startup?
We help people design the lives they want to live...then help them create homes that empower that life.
Looking at it from a business model view however, we are implementing on the Internet a systematic process we developed in the real world with our architecture clients over a ten year period that basically is user experience for architecture. To accomplish that we use psychological testing and a variety of other techniques from behavior-environment sciences to collect data from people for the purpose of helping them develop detailed criteria for a home that fits who they are, how they live and what they care about.
What need does it fulfill?
1. Turns out that same technology also identifies the "why of buy" when it come to residential real estate, home improvement projects, home furnishings and home project components. We have both free and paid exercises that are project specific.
2. We are a referral service for home professionals (realtors, architects, interior designers, contractors etc.)
3. We also offer "Healing Home" exercises (again some free, others paid) that range from "greening your home" up to flat out self improvement applications. (Again our process is about getting at the Home in your Head - which is of course where the "experience of home" exists. Then taking those goals and implementing them in a real project.)
4. We are also host an online collaborative web2 workspace that allows people to "play house" with their friends who also take our exercises and products - and to collaborate on real projects with home professionals online.
5. We offer both consumers and pros the option of working with people outside their normal geographic markets. Pros in one marketplace can collaborate with pros and consumers in another marketplace on a common project.
6. Our testing collects a lot of data about consumer preferences for specific products, product types, their priorities, budgets etc. That allows us to deliver pay per click advertising to home products and furnishings advertisers that is very drilled down.
7. After we have enough users, we will have a vast source of a new type of consumer analysis based not just on what people say they want, but what their emotions and values predict they will actually buy. So we will offer predictive consumer analysis, do product testing etc.
What exactly does your product do?
As noted, we have a lot of products.
1. For pros, it offers referrals and offers a totally new and better type of "human centered" sales process.
2. It reduces showings per sale for realtors (As it is known in real estate - it improves the "buyers are liars" problem), lowers production costs for architects and interior designers (how many revisions required to get client buy in).
3. It helps build more powerful and trusting relationships - so it enhances client retention and customer satisfaction.
4. It also saves pros money and time as you get a much higher percentage of the details associated with what a client wants down in advance - so fewer change orders, misunderstandings, lost clients and law suits.
5. It makes it easier for an interior designer in Detroit to collaborate with a contractor and his client in Austin (or anywhere else)
1. For consumers, it helps them clarify what they want before they approach the professionals they hire.
2. It helps them find pros that are compatible with their needs, values and budget.
3. It help them learn how to approach a project with the life they want in mind, not just their tile selection and type of refrigerator.
4. It helps them find and work with designers outside their geographic market which will likely help them save money and give them more choices.
5. It gives women a fantasy place to "play house" online.
6. And most of all, it gives them a lot more control over the final outcome of a project that for many of them is the most expensive investment they have.
Who is it for?
Women especially like it. But is is for anyone creating a living space that fits their life - their values, relationships, personal goals, tastes, lifestyle, family background, financial priorities and psychological makeup. And it is for saving home pros time and money, enhancing their image and improving their customer satisfaction. It is for making client relationships work in the largest and most fragmented industry in the U. S. - so it is for anyone who wants a home that fits who they are and anyone who wants a home related project to be less stressful and more successful.
What was the most challenging aspect of starting up a business?
I am 58 and have been starting businesses since I was 24. So my biggest challenge has been the learning curve associated with a technology startup. This is my first one and the learning curve has been steep. We had this process very vetted in our architecture firm but turning it into an online technology - particularly the UI and UX issues - has been a challenge. We have gotten there slowly and painfully. But we are finally very close now.
What is the next step for you and your startup?
We are pretty far along. We have a UI-UX fix that needs to be implemented after a lot of focus group testing and are looking for a little bit of money (Maybe $50,000 more than we have already raised) from 2-3 angels with strong experience in small B to B and consumer based markets (ideally some experience in a webII startup would also be nice). We want investors who might want long term management roles after we get to market and start our first "real capitalization. We are currently self funded and shopping for people more than for money. We want to identify some really good management partners some time soon and would like to get them involved as investors in this proof of concept roll out. We expect to be "at market" by late Summer or early Fall and need to find that team soon as the founders do not see themselves as top management long term.
What advice do you have for entrepreneurs?
Grow big ones and never quit. A lot of making a business successful is getting a really great idea you truy believe in, listening to others enough to get it right and never giving up. We think "following your bliss" makes money. Counting all the development and research involved in the project - not just the web development phase - we have been working on this project for a decade. So I had to love this sucker to stay with it. And I do love it.
What Austin-based resource have you found to be the most helpful and why?
There are a lot of great resources in Austin for entrepreneurs - but frankly I think the best resource is just the culture of the community itself. Austin is an awesome mix of business and social entrepreneurship. Smart, helpful people are everywhere and the "spirit" of the community is not only about innovation but also about giving back. We are a group that is very committed to that view of business - so Austin feels like home to us. (And given I was there from 1968 to 1974 - the CEO was quite happy to find the town is still about breaking boundaries and making a difference.)
Best regards,
Hall T.
Where are you from originally?
I was born in Dallas, raised in Waco, went to school in Austin. (I am a "son of the Republic of Texas" so my family has been here since Texas was a Republic.)
What university did you go to?
I went to school at UT Austin, McClennan Co. Community college and at St. Edwards University. To be honest, mostly I partied. Life is the university in which I learned the most.
What brought you to Austin?
The architecture firm of which I am Managing Partner has an office there. Two of my three children live there and all my grandchildren - but since early February I have been coming there to network and get involved in the startup community as we are getting close to going to market and plan to have our offices in Austin.
What is the idea behind your startup?
We help people design the lives they want to live...then help them create homes that empower that life.
Looking at it from a business model view however, we are implementing on the Internet a systematic process we developed in the real world with our architecture clients over a ten year period that basically is user experience for architecture. To accomplish that we use psychological testing and a variety of other techniques from behavior-environment sciences to collect data from people for the purpose of helping them develop detailed criteria for a home that fits who they are, how they live and what they care about.
What need does it fulfill?
1. Turns out that same technology also identifies the "why of buy" when it come to residential real estate, home improvement projects, home furnishings and home project components. We have both free and paid exercises that are project specific.
2. We are a referral service for home professionals (realtors, architects, interior designers, contractors etc.)
3. We also offer "Healing Home" exercises (again some free, others paid) that range from "greening your home" up to flat out self improvement applications. (Again our process is about getting at the Home in your Head - which is of course where the "experience of home" exists. Then taking those goals and implementing them in a real project.)
4. We are also host an online collaborative web2 workspace that allows people to "play house" with their friends who also take our exercises and products - and to collaborate on real projects with home professionals online.
5. We offer both consumers and pros the option of working with people outside their normal geographic markets. Pros in one marketplace can collaborate with pros and consumers in another marketplace on a common project.
6. Our testing collects a lot of data about consumer preferences for specific products, product types, their priorities, budgets etc. That allows us to deliver pay per click advertising to home products and furnishings advertisers that is very drilled down.
7. After we have enough users, we will have a vast source of a new type of consumer analysis based not just on what people say they want, but what their emotions and values predict they will actually buy. So we will offer predictive consumer analysis, do product testing etc.
What exactly does your product do?
As noted, we have a lot of products.
1. For pros, it offers referrals and offers a totally new and better type of "human centered" sales process.
2. It reduces showings per sale for realtors (As it is known in real estate - it improves the "buyers are liars" problem), lowers production costs for architects and interior designers (how many revisions required to get client buy in).
3. It helps build more powerful and trusting relationships - so it enhances client retention and customer satisfaction.
4. It also saves pros money and time as you get a much higher percentage of the details associated with what a client wants down in advance - so fewer change orders, misunderstandings, lost clients and law suits.
5. It makes it easier for an interior designer in Detroit to collaborate with a contractor and his client in Austin (or anywhere else)
1. For consumers, it helps them clarify what they want before they approach the professionals they hire.
2. It helps them find pros that are compatible with their needs, values and budget.
3. It help them learn how to approach a project with the life they want in mind, not just their tile selection and type of refrigerator.
4. It helps them find and work with designers outside their geographic market which will likely help them save money and give them more choices.
5. It gives women a fantasy place to "play house" online.
6. And most of all, it gives them a lot more control over the final outcome of a project that for many of them is the most expensive investment they have.
Who is it for?
Women especially like it. But is is for anyone creating a living space that fits their life - their values, relationships, personal goals, tastes, lifestyle, family background, financial priorities and psychological makeup. And it is for saving home pros time and money, enhancing their image and improving their customer satisfaction. It is for making client relationships work in the largest and most fragmented industry in the U. S. - so it is for anyone who wants a home that fits who they are and anyone who wants a home related project to be less stressful and more successful.
What was the most challenging aspect of starting up a business?
I am 58 and have been starting businesses since I was 24. So my biggest challenge has been the learning curve associated with a technology startup. This is my first one and the learning curve has been steep. We had this process very vetted in our architecture firm but turning it into an online technology - particularly the UI and UX issues - has been a challenge. We have gotten there slowly and painfully. But we are finally very close now.
What is the next step for you and your startup?
We are pretty far along. We have a UI-UX fix that needs to be implemented after a lot of focus group testing and are looking for a little bit of money (Maybe $50,000 more than we have already raised) from 2-3 angels with strong experience in small B to B and consumer based markets (ideally some experience in a webII startup would also be nice). We want investors who might want long term management roles after we get to market and start our first "real capitalization. We are currently self funded and shopping for people more than for money. We want to identify some really good management partners some time soon and would like to get them involved as investors in this proof of concept roll out. We expect to be "at market" by late Summer or early Fall and need to find that team soon as the founders do not see themselves as top management long term.
What advice do you have for entrepreneurs?
Grow big ones and never quit. A lot of making a business successful is getting a really great idea you truy believe in, listening to others enough to get it right and never giving up. We think "following your bliss" makes money. Counting all the development and research involved in the project - not just the web development phase - we have been working on this project for a decade. So I had to love this sucker to stay with it. And I do love it.
What Austin-based resource have you found to be the most helpful and why?
There are a lot of great resources in Austin for entrepreneurs - but frankly I think the best resource is just the culture of the community itself. Austin is an awesome mix of business and social entrepreneurship. Smart, helpful people are everywhere and the "spirit" of the community is not only about innovation but also about giving back. We are a group that is very committed to that view of business - so Austin feels like home to us. (And given I was there from 1968 to 1974 - the CEO was quite happy to find the town is still about breaking boundaries and making a difference.)
Best regards,
Hall T.
Monday, May 4, 2009
Central Texas Funding Forum – Meet the Funding Sources in Austin
In the Central Texas Funding Forum on May 7th, we’ll highlight several funding groups on the panel session in the morning. The list includes the following:
Bill Petty, Baylor Angel Network
Joshua Baer, Capital Factory
Lance Adams, Central Texas Angel Network
Martin Jackobvitz, Central Texas Business Consulting
Eric Werner, Eyes of Texas
Marc Rankin, Noble Capital
Jim Poage, SATAI
We’ll hold a panel discussion to highlight the current funding scene. Each of these groups will describe their view on what’s currently getting funding and what’s different today from a year ago in the funding of startup companies. Following will be a question and answer session with the audience.
If you want face time with any of these groups, now is your opportunity to meet with them after the panel to learn more about their organizations and to introduce your startup.
Best regards,
Hall T.
Bill Petty, Baylor Angel Network
Joshua Baer, Capital Factory
Lance Adams, Central Texas Angel Network
Martin Jackobvitz, Central Texas Business Consulting
Eric Werner, Eyes of Texas
Marc Rankin, Noble Capital
Jim Poage, SATAI
We’ll hold a panel discussion to highlight the current funding scene. Each of these groups will describe their view on what’s currently getting funding and what’s different today from a year ago in the funding of startup companies. Following will be a question and answer session with the audience.
If you want face time with any of these groups, now is your opportunity to meet with them after the panel to learn more about their organizations and to introduce your startup.
Best regards,
Hall T.
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