Josh Rabinowitz of Articulate Labs talks his Startup
Where are you from originally?
I'm originally from the Metro Detroit area – Farmington Hills. Go Hawks.
What university did you go to?
I'm a proud Spartan alum from Michigan State University. Like many other college graduates of my generation, though, I'm not doing anything related to my degree in Political Theory & Constitutional Democracy.
What brought you to Austin?
My partner and co-founder, Herbie Kirn, moved to Austin from the Detroit area when his first start-up needed to have access to silcon design engineers. The choices were Austin and San Jose, and Austin looked more enjoyable. I followed shortly thereafter and began working in the political realm, then later in non-profits.
What is the idea behind your startup?
The driving force behind Articulate Labs is to integrate tried-and-true solutions from a variety of engineering fields into health-focused medical devices and technology to fulfill unmet medical needs. Our first invention to go to market is StimBrace, an adaptive, motion-sensitive muscle stimulator that may reduce pain-induced muscle inhibition in osteoarthritic knees. Here, Herbie has taken the current functional electrical stimulator and added modern digital signal processing ability and adaptive real-time algorithms from engine control to create a self-customizing, effective knee care solution.
What need does it fulfill?
StimBrace handles an unmet need for practical, non-medicinal osteoarthritic knee treatment, a need that is going to grow as the number afflicted increases to approximately 35 million in 2030. This population needs something that can compliment and compensate for current treatment options that have limited duration, poor efficacy, and/or potential drawbacks. For instance, a StimBrace user could cut back on their use of certain anti-inflammatory medications, reducing both financial expense (~$275/yr.) and risk of side effects ranging from dizziness up to gastrointestinal bleeding. The latter point is a huge issue – in 2008, over 100,000 were hospitalized for anti-inflammatory-related internal bleeding, of which over 16,000 died.
We believe StimBrace may also help postpone knee replacements. Over 700,000 knee replacements occur each year, 90% of which were related to osteoarthritis. However, many who develop knee osteoarthritis are too young to have a knee replacement. Someone who has their knee replaced at 55 will likely need another replacement at 70, if not earlier. If you can put off a knee replacement, then you've sidestepped the risks inherent with surgery at an advanced age, saved over $20,000 in the surgery alone, and potentially skipped weeks of rehabilitation and inaction.
What exactly does your product do?
Herbie has been using muscle stimulation for osteoarthritic knee rehabilitation, a direct result of a motorcycle accident six years ago in which he lost his right foot. As it turns out, studies show that quadriceps strengthening is the best prognostic indicator for knee osteoarthritis – the stronger the quadriceps muscles are, the greater the load they can distribute away from the degraded weight-bearing surfaces of the knee. If you can reduce that pressure, you can reduce the painful mechanical grinding within an osteoarthritic knee.
However, current e-stim units are only designed for use in a clinical setting, not for use while ambulant. Using his background experience as a systems design engineer, Herbie created hardware and real-time operating software that can adapt to unique motions and activities of each user. To this, he added a simple single-button user interface which prompts StimBrace to remember painful conditions. Thereafter, when StimBrace's motion sensors detects these conditions, it contracts the patient's musclature to offload the joint. The patient, rather than a pre-programmed gait sequence, determines when StimBrace becomes active and what painful motions should be precluded in the future. Now we want to help the 13.5 million people with knee osteoarthritis in the country to enjoy similar benefits.
Who is it for?
Right now, we see this device benefiting people who need non-medicinal knee osteoarthritis relief and are too young to get a knee replacement. Specifically, we're looking at people aged 55+ who need knee pain relief to stay mentally, physically, and professionally active. We're still evaluating the market to determine whether direct end user sales or physicians' prescriptions would be more attractive.
It is going to take a couple years to handle everything related to FDA approval and insurance reimbursement, so we're also looking at different populations that we could assist in the meantime. One option includes muscle rehabilitation and retraining for high-level athletes. Consider someone like Lamar Odom, the Lakers' forward who suffered a torn meniscus during NBA playoffs. If we could help someone like him with pain relief, to speed rehab by even as much as a week, it could be worth hundreds of thousands to him and to the team. (Not that they needed the help this time around)
What was the most challenging aspect of starting up a business?
It's been difficult to change my work approach from focusing on short-term problems to planning ahead and prioritizing projects over the next 18 months. With every action, I need to ask myself how this leads toward our larger goals or if this just keeps me busy. Staying busy doesn't move you forward by default, and it can actually disguise critical tasks that you are ignoring.
It's also been surprisingly difficult to work from home offices and to turn places where I would relax into places where I put my nose to the grindstone. It's good now, but it took a long time for me to figure out how to carve out time and physical space for both actions.
What is the next step for you and your startup?
Biggest priorities for this summer include completing our medical advisory board and putting in a SBIR grant proposal with the National Institute of Health to support some physician-directed trials.
We also need to track down someone who would be willing to serve as our CEO or BizDev VP. We need someone more experienced with fundraising and marketing. We have an excellent base of market and technical research as well as a relatively developed product, but need to complete a team to really get this company off the ground.
What advice do you have for entrepreneurs?
Every person you meet does something better than you and is worth learning from. Even if you feel that someone's interests or skill-set are unrelated to your work, listen and understand anyways. You never know when what you learn becomes useful in another conversation, or when someone you speak with turns out to be someone who can help you down the line. You can't pull this off, though, if you're not genuine in your interest and if you're not humble enough to acknowledge the lesson's value.
What Austin-based resource have you found to be the most helpful and why?
The friendly and helpful nature of Austinites has been extremely beneficial to us. It's not a place where people look at you and say, “If you're not helping me right now, what good are you?” It's a place where we can ask questions, take people out for coffee, network, and generally gather the knowledge we need because people are forthcoming and willing to take that time. It's also a place where we can offer our help to others in turn with no reservations. . I love this town and hope that spirit never changes.
Friday, June 25, 2010
Wednesday, June 23, 2010
Richard McKinnon of Less Networks Talks about His Company
Richard McKinnon of Less Networks Talks about His Company
Where are you from originally?
I was born in the Philippines and grew up in the Bay Area after brief stints in New Jersey and Phoenix.
What university did you go to?
I took a tour of colleges beginning by flunking out of the University of New Mexico because I was having just too much fun. Then, I tried my hand at aviation at Alameda Community College. When I realized that flying an airliner was more boring than glamorous, I dropped out of that too. I was 18 and in search of a life. Next, I remediated my bruised transcripts at Chabot Community College studying Criminal Justice. It seems I had a knack for law enforcement as I finished at the top of my class. I transferred to San Jose State University in Public Administration where I was exposed to Political Science, which I loved. It was there that I was introduced to the high-tech eco-system in Silicon Valley and became involved with an actual garage start-up that would eventually IPO.
What brought you to Austin?
After receiving my MA in Political Science, I came to UT for a PhD in Political Theory. Although I still love political theory, I didn't enjoy the PhD experience in UT's Government Department. After several years of trying to make it work, I eventually dropped out. It seems my academic career went full circle! The best thing about the horrible experience at UT is that it introduced me to a really great town filled with kind and interesting people. So, like so many others, I stayed. It was difficult at first to transition from academia back to the working world, but I eventually found my place in Austin's high-tech scene. It was around this time that that Silicon Valley company IPO'd and I gained the freedom to quit my job and start my own company.
What is the idea behind your startup?
We originally started as a free wi-fi company to help small, independent businesses compete with Tmobile's for-pay wi-fi in Starbucks. Nowadays, we help these businesses make sure that their customers are aware of and engaged with the business' Facebook, Twitter, and email marketing newsletter. It's pretty obvious when you think about it. Why put up a sign in your restaurant that says "Follow us on Facebook and Twitter" when you can automatically take your customers to those pages when they get on the WiFi system. We've evolved to the point that we don't even require WiFi for the solution. If a consumer wants to use their iPhone's 4G connection, then we can fall back to in-store signage that directs them to a web page and a chance to win free food for them and their Facebook friends in exchange for an email address. Just last week, Starbucks announced that their wifi is going to become free, so now our raison d ^ etre is gone. Good thing we've continued to evolve from "free wifi solutions" to "wifi-free solutions"!
What need does it fulfill?
We're focusing primarily on the food industry--cafe's, restaurants, and bars. These folks totally understand the value of word-of-marketing and many have begun playing with Facebook and Twitter. Some have gone so far as to develop a custom iPhone app. The problem is that all of these tools take time and money, yet they have no clear path to making sure that their customers even know that these investments exist!
Recently, I attended a social media summit in Hollywood and they had high-ranking marketing guys from Mazda and Kodak as keynote speakers talking about how they were able to persuade their organizations to invest in social media. They discussed the cultural change that was necessary as well as the resources needed. But you know, at the end of the day, these huge companies are still suffering from the same problem that my much smaller customers have--obscurity. I turned to my table mates at the summit and asked how many of them had ever been to either Kodak's or Mazda's Facebook page? No one. I also asked if they even knew they existed or ever thought to look. Again, no one.. So if a company with a Fortune 500 marketing budget is having trouble making people aware of and engaged with their social media investments, what's a small restaurant or coffee shop supposed to do? That's how Less Networks can help. Put simply, we put your Facebook page in front of your customers' face.
What exactly does your product do?
When we're integrated into a business's WiFi system, we automatically take people using the Internet right to the the business' marketing assets. We can do this because we control the router. Sometimes we take them to their Facebook page where they can click the button to become a Fan. Other times we take them to the business' Twitter profile where they can become a Follower. This is much more effective than putting up a sign that says "Follow us on Facebook" and hoping that the people will see it, remember it later, and then actually do it--assuming that they even know how to find the business on Facebook. In addition to increasing the visibility of social media assets, we also build-in automatic engagement by prompting the consumers to share their location and experience with their Facebook friends. If they do this, then their picture, the business' logo, promotional link, and text is posted on the consumer's wall for 130 Facebook friends to see. That something a simple sign can't do! Since we also have the email addresses of everyone using the WiFi system, we can help integrate the consumers into the business' opt-in email marketing program such as Fishbowl and Constant Contact. Finally, we make sure that the WiFi works so that the business doesn't need to worry about it.
All of this marketing activity depends on a working WiFi system, so reliable WiFi is a bedrock benefit that we provide. I mentioned earlier that we now have a "wifi-free solution" for smart phones. Unfortunately, this does depend on in-store signage, but you can't force someone to use wifi on their iPhone if they don't want to. As a result, we've had to come up with a user experience for 3G/4G consumers. Basically, they see a sign that says something like "Win a free burger for you and your friends at some easy URL.com" Then they go there on their smart phone and it prompts them for their email address and to click to see if they win. They're told instantly whether they're a winner and that the coupon was sent to their email address. The email they receive later also contains a link to share the contest with their Facebook friends. Of course, the hope is that the promotion will spread to the consumer's friends all the while collecting email addresses, raising the business visibility, providing entertainment, and awarding free hamburgers.
Who is it for?
We believe our solution is a good fit for any retail business trying to make their customers aware of their social media, but we're focusing on the Texas food industry until we have the resources to branch out systematically.
What was the most challenging aspect of starting up a business?
Starting up was easy, keeping it going is hard. I've learned that raw intelligence is not enough to succeed and an instinct for making money is crucial. I've noticed that some of my smartest friends have created the most convoluted companies and methods for earning a living. I suspect that's because more straight-forward approaches are boring or below them. It's almost like they're too smart to make money because the businesses are based on technologies they've created to amuse themselves. I've been guilty of that. Working with my restaurant industry customers, I've acquired a great deal of respect for the straight-forward "simple" business models that don't involve much high-tech or brainy convolution---you make a product or provide a service that people want and you sell it to them, then repeat.
I remember the first time I learned that Dairy Queen stores compete on how quickly they can make their first million in annual revenues and then go up the ladder from there. It was humbling. A million bucks is a million bucks and my fancy WiFi company was a long ways from there. Maybe I should be selling Blizzards instead. At the very least, I've finally learned to focus on the money and not the gee-whiz technology and coolness factor. The question I always ask myself now is, "Would a customer want to buy this?" as opposed to "Wouldn't it be cool if we made this?" I hope that this dose of pragmatism doesn't prevent me from inventing the next Twitter some day, because an idea like Twitter definitely wouldn't pass my new litmus test for a business. That's sad, I guess. Maybe after I get out of the trenches, I'll get all starry-eyed again.
What is the next step for you and your startup?
We're in the process beefing up our advisory board with telco and food industry execs to more effectively court multi-unit franchise and national retail customers as well as prepare ourselves for partnering, licensing, and acquisition opportunities with broadband infrastructure providers such as such as phone and cable companies. Already, we've had several exciting conversations along these lines, but who knows, maybe our exit will be to another kind of buyer like a Chinese social networking company or a newspaper company looking for a new way to distribute their content.
What advice do you have for entrepreneurs?
Specifically to Austin high-tech entrepreneurs, get on a plane and fly to SF/Silicon Valley every month. Sure, we live in a great city with a great quality of life, but we're working at a tremendous disadvantage. It's like being a "mid-major" college football team. Even if you've got a great product, you're playing in a weak conference. I hate to say it, but I've learned that it's true. In SF/Silicon Valley, Austin just doesn't even register in the high-tech scene. We're in the backwater out here. The only Austin company they can think of is Dell. Telling them you have a company in Austin does not impress them, it makes them question your credibility. That's pretty infuriating because so many bad business ideas get attention and funding out there simply because they're out there. So, take some of the money you're saving on rent and mortgage, and spend it on a $300 plane trip to the Bay Area every month and start networking over there. Don't even tell them you're from Austin. Say your development team is in Austin, if you have to. Create a virtual office over there and have a California business card. Think of it as a standard business expense for all Austin high-tech companies of any size. Our biggest biz dev lead for 2009 came out of this strategy and it would have never happened otherwise. Then, come home, put on your shorts and sandals, pop open a Shiner, have some chips and salsa and be grateful that you don't have to live in the Bay everyday. This is a great place to live in, but not build a high-tech company. That's not something that many people here want to hear and I'm a bigger booster than most.
There are a lot of things that would have to change like the whole attitude of the entire local investment community from angels to VCs. But even then, we're simply lacking the critical mass of nearly everybody you need to meet and partner with to succeed is over there. It's crucial to be a part of the conversation, so that someone who can make a difference becomes aware of you. It's very similar to LA and actors. Anyway, once you get over the sting of this reality, let me know and I'll help you meet and network with the Austin diaspora that regularly travels to CA. We trade Bay Area tips and advice, talk about Austin, and even share living and working spaces while we're out there. It makes traveling so much easier and more fun when you keep a foot in your home community.
What Austin-based resource have you found to be the most helpful and why?
I benefit greatly from the advice and mentoring from the Austin Technology Incubator as well as the email list from Bootstrap-Austin. But perhaps the most helpful resource is the collective experience and talent of my Austin-based team members. It's tempting to "ask the experts," and it's awfully easy to overlook the in-house expertise you already have. We've built an award-winning venture together and I'm looking forward to finally solving the puzzle for making money with free WiFi.
Best regards,
Hall T.
Where are you from originally?
I was born in the Philippines and grew up in the Bay Area after brief stints in New Jersey and Phoenix.
What university did you go to?
I took a tour of colleges beginning by flunking out of the University of New Mexico because I was having just too much fun. Then, I tried my hand at aviation at Alameda Community College. When I realized that flying an airliner was more boring than glamorous, I dropped out of that too. I was 18 and in search of a life. Next, I remediated my bruised transcripts at Chabot Community College studying Criminal Justice. It seems I had a knack for law enforcement as I finished at the top of my class. I transferred to San Jose State University in Public Administration where I was exposed to Political Science, which I loved. It was there that I was introduced to the high-tech eco-system in Silicon Valley and became involved with an actual garage start-up that would eventually IPO.
What brought you to Austin?
After receiving my MA in Political Science, I came to UT for a PhD in Political Theory. Although I still love political theory, I didn't enjoy the PhD experience in UT's Government Department. After several years of trying to make it work, I eventually dropped out. It seems my academic career went full circle! The best thing about the horrible experience at UT is that it introduced me to a really great town filled with kind and interesting people. So, like so many others, I stayed. It was difficult at first to transition from academia back to the working world, but I eventually found my place in Austin's high-tech scene. It was around this time that that Silicon Valley company IPO'd and I gained the freedom to quit my job and start my own company.
What is the idea behind your startup?
We originally started as a free wi-fi company to help small, independent businesses compete with Tmobile's for-pay wi-fi in Starbucks. Nowadays, we help these businesses make sure that their customers are aware of and engaged with the business' Facebook, Twitter, and email marketing newsletter. It's pretty obvious when you think about it. Why put up a sign in your restaurant that says "Follow us on Facebook and Twitter" when you can automatically take your customers to those pages when they get on the WiFi system. We've evolved to the point that we don't even require WiFi for the solution. If a consumer wants to use their iPhone's 4G connection, then we can fall back to in-store signage that directs them to a web page and a chance to win free food for them and their Facebook friends in exchange for an email address. Just last week, Starbucks announced that their wifi is going to become free, so now our raison d ^ etre is gone. Good thing we've continued to evolve from "free wifi solutions" to "wifi-free solutions"!
What need does it fulfill?
We're focusing primarily on the food industry--cafe's, restaurants, and bars. These folks totally understand the value of word-of-marketing and many have begun playing with Facebook and Twitter. Some have gone so far as to develop a custom iPhone app. The problem is that all of these tools take time and money, yet they have no clear path to making sure that their customers even know that these investments exist!
Recently, I attended a social media summit in Hollywood and they had high-ranking marketing guys from Mazda and Kodak as keynote speakers talking about how they were able to persuade their organizations to invest in social media. They discussed the cultural change that was necessary as well as the resources needed. But you know, at the end of the day, these huge companies are still suffering from the same problem that my much smaller customers have--obscurity. I turned to my table mates at the summit and asked how many of them had ever been to either Kodak's or Mazda's Facebook page? No one. I also asked if they even knew they existed or ever thought to look. Again, no one.. So if a company with a Fortune 500 marketing budget is having trouble making people aware of and engaged with their social media investments, what's a small restaurant or coffee shop supposed to do? That's how Less Networks can help. Put simply, we put your Facebook page in front of your customers' face.
What exactly does your product do?
When we're integrated into a business's WiFi system, we automatically take people using the Internet right to the the business' marketing assets. We can do this because we control the router. Sometimes we take them to their Facebook page where they can click the button to become a Fan. Other times we take them to the business' Twitter profile where they can become a Follower. This is much more effective than putting up a sign that says "Follow us on Facebook" and hoping that the people will see it, remember it later, and then actually do it--assuming that they even know how to find the business on Facebook. In addition to increasing the visibility of social media assets, we also build-in automatic engagement by prompting the consumers to share their location and experience with their Facebook friends. If they do this, then their picture, the business' logo, promotional link, and text is posted on the consumer's wall for 130 Facebook friends to see. That something a simple sign can't do! Since we also have the email addresses of everyone using the WiFi system, we can help integrate the consumers into the business' opt-in email marketing program such as Fishbowl and Constant Contact. Finally, we make sure that the WiFi works so that the business doesn't need to worry about it.
All of this marketing activity depends on a working WiFi system, so reliable WiFi is a bedrock benefit that we provide. I mentioned earlier that we now have a "wifi-free solution" for smart phones. Unfortunately, this does depend on in-store signage, but you can't force someone to use wifi on their iPhone if they don't want to. As a result, we've had to come up with a user experience for 3G/4G consumers. Basically, they see a sign that says something like "Win a free burger for you and your friends at some easy URL.com" Then they go there on their smart phone and it prompts them for their email address and to click to see if they win. They're told instantly whether they're a winner and that the coupon was sent to their email address. The email they receive later also contains a link to share the contest with their Facebook friends. Of course, the hope is that the promotion will spread to the consumer's friends all the while collecting email addresses, raising the business visibility, providing entertainment, and awarding free hamburgers.
Who is it for?
We believe our solution is a good fit for any retail business trying to make their customers aware of their social media, but we're focusing on the Texas food industry until we have the resources to branch out systematically.
What was the most challenging aspect of starting up a business?
Starting up was easy, keeping it going is hard. I've learned that raw intelligence is not enough to succeed and an instinct for making money is crucial. I've noticed that some of my smartest friends have created the most convoluted companies and methods for earning a living. I suspect that's because more straight-forward approaches are boring or below them. It's almost like they're too smart to make money because the businesses are based on technologies they've created to amuse themselves. I've been guilty of that. Working with my restaurant industry customers, I've acquired a great deal of respect for the straight-forward "simple" business models that don't involve much high-tech or brainy convolution---you make a product or provide a service that people want and you sell it to them, then repeat.
I remember the first time I learned that Dairy Queen stores compete on how quickly they can make their first million in annual revenues and then go up the ladder from there. It was humbling. A million bucks is a million bucks and my fancy WiFi company was a long ways from there. Maybe I should be selling Blizzards instead. At the very least, I've finally learned to focus on the money and not the gee-whiz technology and coolness factor. The question I always ask myself now is, "Would a customer want to buy this?" as opposed to "Wouldn't it be cool if we made this?" I hope that this dose of pragmatism doesn't prevent me from inventing the next Twitter some day, because an idea like Twitter definitely wouldn't pass my new litmus test for a business. That's sad, I guess. Maybe after I get out of the trenches, I'll get all starry-eyed again.
What is the next step for you and your startup?
We're in the process beefing up our advisory board with telco and food industry execs to more effectively court multi-unit franchise and national retail customers as well as prepare ourselves for partnering, licensing, and acquisition opportunities with broadband infrastructure providers such as such as phone and cable companies. Already, we've had several exciting conversations along these lines, but who knows, maybe our exit will be to another kind of buyer like a Chinese social networking company or a newspaper company looking for a new way to distribute their content.
What advice do you have for entrepreneurs?
Specifically to Austin high-tech entrepreneurs, get on a plane and fly to SF/Silicon Valley every month. Sure, we live in a great city with a great quality of life, but we're working at a tremendous disadvantage. It's like being a "mid-major" college football team. Even if you've got a great product, you're playing in a weak conference. I hate to say it, but I've learned that it's true. In SF/Silicon Valley, Austin just doesn't even register in the high-tech scene. We're in the backwater out here. The only Austin company they can think of is Dell. Telling them you have a company in Austin does not impress them, it makes them question your credibility. That's pretty infuriating because so many bad business ideas get attention and funding out there simply because they're out there. So, take some of the money you're saving on rent and mortgage, and spend it on a $300 plane trip to the Bay Area every month and start networking over there. Don't even tell them you're from Austin. Say your development team is in Austin, if you have to. Create a virtual office over there and have a California business card. Think of it as a standard business expense for all Austin high-tech companies of any size. Our biggest biz dev lead for 2009 came out of this strategy and it would have never happened otherwise. Then, come home, put on your shorts and sandals, pop open a Shiner, have some chips and salsa and be grateful that you don't have to live in the Bay everyday. This is a great place to live in, but not build a high-tech company. That's not something that many people here want to hear and I'm a bigger booster than most.
There are a lot of things that would have to change like the whole attitude of the entire local investment community from angels to VCs. But even then, we're simply lacking the critical mass of nearly everybody you need to meet and partner with to succeed is over there. It's crucial to be a part of the conversation, so that someone who can make a difference becomes aware of you. It's very similar to LA and actors. Anyway, once you get over the sting of this reality, let me know and I'll help you meet and network with the Austin diaspora that regularly travels to CA. We trade Bay Area tips and advice, talk about Austin, and even share living and working spaces while we're out there. It makes traveling so much easier and more fun when you keep a foot in your home community.
What Austin-based resource have you found to be the most helpful and why?
I benefit greatly from the advice and mentoring from the Austin Technology Incubator as well as the email list from Bootstrap-Austin. But perhaps the most helpful resource is the collective experience and talent of my Austin-based team members. It's tempting to "ask the experts," and it's awfully easy to overlook the in-house expertise you already have. We've built an award-winning venture together and I'm looking forward to finally solving the puzzle for making money with free WiFi.
Best regards,
Hall T.
Saturday, June 19, 2010
“Why (Not to) Join and Angel Group?”— a Frank Peters Interview
Recently, I was invited to participate in an interview by Frank Peters who runs the Frank Peters Show along with Curtis Gunn, Chairman of Tucson's Desert Angels, and Bruce MacCormack, founder of the Bellingham Angels. Since Frank recently keynoted at the Texas Funding Symposium here in Austin, I gladly signed up.
The topic was why one should join an angel group but by the time we finished the interview, Frank retitled the show as to “Why Not to Join an Angel Group.”
The key benefits to join an angel group include:
--efficiency of dealflow,
--diverse options such as sidecar funds, co-investment with other groups, as well as direct investments into startups,
--mentoring and education,
--creating a portfolio of deals more quickly,
--negotiation leverage,
--safety in numbers,
--social benefits.
During the discussion, Bruce MacCormack brought up why one shouldn’t join an angel group which includes:
--if you’re looking for entertainment value only,
--if you think it’s going to be like the “Shark Tank”.
For those considering to join an angel group, I recommend you listen to the podcast as it may help you decide and if you want to know more, please contact me.
Best regards,
Hall T.
The topic was why one should join an angel group but by the time we finished the interview, Frank retitled the show as to “Why Not to Join an Angel Group.”
The key benefits to join an angel group include:
--efficiency of dealflow,
--diverse options such as sidecar funds, co-investment with other groups, as well as direct investments into startups,
--mentoring and education,
--creating a portfolio of deals more quickly,
--negotiation leverage,
--safety in numbers,
--social benefits.
During the discussion, Bruce MacCormack brought up why one shouldn’t join an angel group which includes:
--if you’re looking for entertainment value only,
--if you think it’s going to be like the “Shark Tank”.
For those considering to join an angel group, I recommend you listen to the podcast as it may help you decide and if you want to know more, please contact me.
Best regards,
Hall T.
Thursday, June 17, 2010
Mike Craig of 360Partners Talks about His View of Startups
Mike Craig of 360Partners Talks about His View of Startups
Where are you from originally?
I’m originally from Denver, Colorado. I love the mountains and have had a hard time adjusting to the 100 steps required to climb “Mt. Bonnell.”
What university did you go to?
My undergraduate degree was from BYU. My senior year, the Princeton Review named our school the top “stone-cold sober school” in the nation. Conversely, that same year the Princeton Review named the University of Texas-Austin the “top party school.” Of course, seeking to balance my education, I had to do my graduate program at Texas.
What brought you to Austin?
I came to Austin for my graduate program. My masters program focused on consumer generated content & Facebook. After school, I was converted. This place is just too great to leave.
What is your passion and strength?
First class online marketing. I like helping businesses create online demand generation programs that are steps ahead of their competition.
What need does it fulfill?
Good question. I enjoy being on the cutting edge of learning and advancement.
What exactly do you bring to startups?
It’s been my opportunity to consult and work with many new startups. I leverage my experience in online marketing to help them determine the most efficient ways to acquire customers online.
What type of startup would benefit from your strengths?
While I enjoy e-commerce models, I’m most suited to help businesses with complex and long sales cycles.
What was the most challenging aspect of starting up a business?
Regarding my area of expertise, I’d suggest that most startups promote and market to their customers before they’ve mapped out their customers and the right sales process for them.
What advice do you have for entrepreneurs?
Surround yourself with the best people possible.
What Austin-based resource have you found to be the most helpful and why?
In my area of expertise, I’ve really enjoyed the Austin based SEO Meetup. They meet on a regular basis to learn and share the latest best practices for online marketing.
Where are you from originally?
I’m originally from Denver, Colorado. I love the mountains and have had a hard time adjusting to the 100 steps required to climb “Mt. Bonnell.”
What university did you go to?
My undergraduate degree was from BYU. My senior year, the Princeton Review named our school the top “stone-cold sober school” in the nation. Conversely, that same year the Princeton Review named the University of Texas-Austin the “top party school.” Of course, seeking to balance my education, I had to do my graduate program at Texas.
What brought you to Austin?
I came to Austin for my graduate program. My masters program focused on consumer generated content & Facebook. After school, I was converted. This place is just too great to leave.
What is your passion and strength?
First class online marketing. I like helping businesses create online demand generation programs that are steps ahead of their competition.
What need does it fulfill?
Good question. I enjoy being on the cutting edge of learning and advancement.
What exactly do you bring to startups?
It’s been my opportunity to consult and work with many new startups. I leverage my experience in online marketing to help them determine the most efficient ways to acquire customers online.
What type of startup would benefit from your strengths?
While I enjoy e-commerce models, I’m most suited to help businesses with complex and long sales cycles.
What was the most challenging aspect of starting up a business?
Regarding my area of expertise, I’d suggest that most startups promote and market to their customers before they’ve mapped out their customers and the right sales process for them.
What advice do you have for entrepreneurs?
Surround yourself with the best people possible.
What Austin-based resource have you found to be the most helpful and why?
In my area of expertise, I’ve really enjoyed the Austin based SEO Meetup. They meet on a regular basis to learn and share the latest best practices for online marketing.
Monday, May 24, 2010
Amy Reynolds of Climb On Talks about her Startup
Amy Reynolds of Climb On Talks about her Startup
Where are you from originally?
Both my sister and I were born in Houston, Texas
What university did you go to?
University of Houston, B.S. in Human Nutrition and Food Science
What brought you to Austin?
After college I joined the Peace Corps and then lived in Europe for a while. I came back to the States to reconnect with family, then moved to Boulder, CO where Climb On! was “born” from the combination of my aromatherapist sister and my need for rapid healing of my rock climbing hands. She then moved (from LA) back to Texas and I followed shortly thereafter. Always knowing that Climb On! could be a viable business as well as the best skin care product on the market. So things just happened serendipitiously so to speak, and finally we were able to get paid for fulltime work by Climb On! in the last couple of years!
What is the idea behind your startup?
Born from an organic need to heal my rock climbing skin! My boyfriend and I asked my sister jokingly one day if she could make something for us! And she did. The rest is history!
What need does it fulfill? Climb On!
fulfills a need for people who desire to use only clean skin care products as well as providing a super concentrated, fast acting intensive skin repair. Most skin care is synthetic based—rendering it toxic to the skin and body. Since there is virtually no regulation of cosmetic ingredients, many ingredients – even in baby products—are toxic and proven harmful. Because every ingredient is “active” our product provides results much more quickly and effectively.
What exactly does your product do?
Climb On! moisturizes, repairs and protects skin, esp. skin that is exposed to extreme conditions as well as chronic skin issues such as eczema and psoriasis. One woman even used it to heal her turtle’s shell rot! Climb On! also helps the skin organ be healthier since the skin isn’t having to detox synthetic chemicals.
Who is it for?
Anyone with skin! Most of our customers, though, have some kind of compromised skin issue—like rock climbers, gardeners, construction workers, etc.
What was the most challenging aspect of starting up a business?
Bootstrapping with hardly any money. Working other jobs to make ends meet until revenue started coming in. That’s just stressful when there is no other household income.
What is the next step for you and your startup?
More expansion and more fun! Our emphasis is on building our direct to consumer sales and fleshing out our overseas distribution.
What advice do you have for entrepreneurs?
Check your ego at the door! Be in service to your business and your community of customers. Personal connection and heartfelt passion go a long way! If people like you they will buy your product.
No matter what business you’re in, you’re still dealing with people and we all have the same needs for connection. Even techies!
Also, get connected with people who have already successfully done what you want to do and learn from them! It’s a no brainer!
What Austin-based resource have you found to be the most helpful and why?
Well, we consider Austin itself a resource because of the deep wealth of creative energy that pulses in this area. And the Austin Entrepreneur Network’s Start up Business Class was very helpful. Connecting with excellent professionals in all aspects of a start up is priceless.
Interview Questions for Entrepreneurs Amy Reynolds, VP and co-owner of Climb On! Products, Inc. (Polly Reynolds is the President and co-owner and creator of the recipes)
Where are you from originally?
Both my sister and I were born in Houston, Texas
What university did you go to?
University of Houston, B.S. in Human Nutrition and Food Science
What brought you to Austin?
After college I joined the Peace Corps and then lived in Europe for a while. I came back to the States to reconnect with family, then moved to Boulder, CO where Climb On! was “born” from the combination of my aromatherapist sister and my need for rapid healing of my rock climbing hands. She then moved (from LA) back to Texas and I followed shortly thereafter. Always knowing that Climb On! could be a viable business as well as the best skin care product on the market. So things just happened serendipitiously so to speak, and finally we were able to get paid for fulltime work by Climb On! in the last couple of years!
What is the idea behind your startup?
Born from an organic need to heal my rock climbing skin! My boyfriend and I asked my sister jokingly one day if she could make something for us! And she did. The rest is history!
What need does it fulfill? Climb On!
fulfills a need for people who desire to use only clean skin care products as well as providing a super concentrated, fast acting intensive skin repair. Most skin care is synthetic based—rendering it toxic to the skin and body. Since there is virtually no regulation of cosmetic ingredients, many ingredients – even in baby products—are toxic and proven harmful. Because every ingredient is “active” our product provides results much more quickly and effectively.
What exactly does your product do?
Climb On! moisturizes, repairs and protects skin, esp. skin that is exposed to extreme conditions as well as chronic skin issues such as eczema and psoriasis. One woman even used it to heal her turtle’s shell rot! Climb On! also helps the skin organ be healthier since the skin isn’t having to detox synthetic chemicals.
Who is it for?
Anyone with skin! Most of our customers, though, have some kind of compromised skin issue—like rock climbers, gardeners, construction workers, etc.
What was the most challenging aspect of starting up a business?
Bootstrapping with hardly any money. Working other jobs to make ends meet until revenue started coming in. That’s just stressful when there is no other household income.
What is the next step for you and your startup?
More expansion and more fun! Our emphasis is on building our direct to consumer sales and fleshing out our overseas distribution.
What advice do you have for entrepreneurs?
Check your ego at the door! Be in service to your business and your community of customers. Personal connection and heartfelt passion go a long way! If people like you they will buy your product.
No matter what business you’re in, you’re still dealing with people and we all have the same needs for connection. Even techies!
Also, get connected with people who have already successfully done what you want to do and learn from them! It’s a no brainer!
What Austin-based resource have you found to be the most helpful and why?
Well, we consider Austin itself a resource because of the deep wealth of creative energy that pulses in this area. And the Austin Entrepreneur Network’s Start up Business Class was very helpful. Connecting with excellent professionals in all aspects of a start up is priceless.
Interview Questions for Entrepreneurs Amy Reynolds, VP and co-owner of Climb On! Products, Inc. (Polly Reynolds is the President and co-owner and creator of the recipes)
Vamsi Mohun of Entreave Talks about his Startup
Vamsi Mohun of Entreave Talks about his Startup
Where are you from originally?
I am originally from Hyderabad which is in South India.
What university did you go to?
I got my MBA from the McCombs School of Business at The University of Texas at Austin. Previously, I got my MS in Electrical Engineering from Michigan Technological University and BS also in Electrical Engineering from Andhra University.
What brought you to Austin?
In the late 90’s, I was working at Sabre Travel Solutions in Dallas when I ran into folks from Momentum Software, a consulting company that was helping a lot of the dotcom startups in Austin. I figured that I wanted to be in the midst of the dotcom madness and hence joined Momentum when they made me an offer.
What is the idea behind your startup?
The idea behind Entreave is to use Social Network Proximity for matchmaking in the marketplace for professionals. Our platform bridges the gap between the consulting services ecosystem on one hand and the social network ecosystem on the other. Workforce and demographic trends suggest that professionals will be increasingly mobile, collaborative and independent (of employers) over the next decade. Entreave’s goal is to facilitate this changing workforce. Likewise, businesses have in the past, and will continue in the future, to have lean workforces and will engage outside experts for burst engagements.
What need does it fulfill?
From time to time, both businesses and individuals need temporary help from professionals. For instance, a business might need a marketing consultant or a SEO expert for a few days. Likewise, an individual might need a CPA or for a legal expert for a few hours. Our system reduces the costs of finding the “right” expert and it also eases the process of engaging with the expert.
What exactly does your product do?
Entreave offers an online marketplace for professional services. Users, businesses or individuals, can post their needs on Entreave as gigs. Professionals can sign up as experts by listing their skills and availability. Gig posters and experts can connect with each other by doing a manual lookup or alternately the platform will pro-actively do the matchmaking. Social proximity of experts to the gig posters is used as the basis for matchmaking, apart from other criteria. Once a Gig poster and an expert agree to engage, the system guides them throughout the engagement through a workflow that comprises of features such as online contracts, escrow payments and online collaboration.
Who is it for?
Our end users are businesses and individuals. We will reach our end users through existing web-based social networks and communities – our platform will enable these entities.
What was the most challenging aspect of starting up a business?
Finding customers that are actually willing to sign up is the most challenging aspect. There is a huge amount of inertia for customers to take the leap from simply talking about a problem to actually trusting a startup to help them find a solution. Assembling the team is almost as challenging.
What is the next step for you and your startup?
Our goal is to bring in about five customers within the next 6 weeks and use this as leverage to bring in the first round of funding.
What advice do you have for entrepreneurs?
Cash Flow is the most important part of the business. Cash has to be generated either from paying customers or from investors. My advice to entrepreneurs is to focus on the fastest path to get to cash on a sustainable basis. You don’t have a business unless you can a) convince customers to pay for your product or b) convince investors that there will be enough paying customers within a certain period of time and these revenues will be enough to justify an investment.
What Austin-based resource have you found to be the most helpful and why?
Generally, folks in the Austin community are willing to talk to you about your venture. If you reach out to them and tell them that their feedback might be valuable to your venture, they will give you an hour of their time. Also, they are willing to give you further references. The Austin community has the right mindset to enable entrepreneurs by spending time with them and by pushing them to be successful and this is very helpful. I recommend entrepreneurs reach out to and participate in organizations such as Austin Entrepreneur Network (AEN), The Indus Entrepreneur (TiE), Bootstrap Austin and various relevant forums at The University of Texas at Austin.
Where are you from originally?
I am originally from Hyderabad which is in South India.
What university did you go to?
I got my MBA from the McCombs School of Business at The University of Texas at Austin. Previously, I got my MS in Electrical Engineering from Michigan Technological University and BS also in Electrical Engineering from Andhra University.
What brought you to Austin?
In the late 90’s, I was working at Sabre Travel Solutions in Dallas when I ran into folks from Momentum Software, a consulting company that was helping a lot of the dotcom startups in Austin. I figured that I wanted to be in the midst of the dotcom madness and hence joined Momentum when they made me an offer.
What is the idea behind your startup?
The idea behind Entreave is to use Social Network Proximity for matchmaking in the marketplace for professionals. Our platform bridges the gap between the consulting services ecosystem on one hand and the social network ecosystem on the other. Workforce and demographic trends suggest that professionals will be increasingly mobile, collaborative and independent (of employers) over the next decade. Entreave’s goal is to facilitate this changing workforce. Likewise, businesses have in the past, and will continue in the future, to have lean workforces and will engage outside experts for burst engagements.
What need does it fulfill?
From time to time, both businesses and individuals need temporary help from professionals. For instance, a business might need a marketing consultant or a SEO expert for a few days. Likewise, an individual might need a CPA or for a legal expert for a few hours. Our system reduces the costs of finding the “right” expert and it also eases the process of engaging with the expert.
What exactly does your product do?
Entreave offers an online marketplace for professional services. Users, businesses or individuals, can post their needs on Entreave as gigs. Professionals can sign up as experts by listing their skills and availability. Gig posters and experts can connect with each other by doing a manual lookup or alternately the platform will pro-actively do the matchmaking. Social proximity of experts to the gig posters is used as the basis for matchmaking, apart from other criteria. Once a Gig poster and an expert agree to engage, the system guides them throughout the engagement through a workflow that comprises of features such as online contracts, escrow payments and online collaboration.
Who is it for?
Our end users are businesses and individuals. We will reach our end users through existing web-based social networks and communities – our platform will enable these entities.
What was the most challenging aspect of starting up a business?
Finding customers that are actually willing to sign up is the most challenging aspect. There is a huge amount of inertia for customers to take the leap from simply talking about a problem to actually trusting a startup to help them find a solution. Assembling the team is almost as challenging.
What is the next step for you and your startup?
Our goal is to bring in about five customers within the next 6 weeks and use this as leverage to bring in the first round of funding.
What advice do you have for entrepreneurs?
Cash Flow is the most important part of the business. Cash has to be generated either from paying customers or from investors. My advice to entrepreneurs is to focus on the fastest path to get to cash on a sustainable basis. You don’t have a business unless you can a) convince customers to pay for your product or b) convince investors that there will be enough paying customers within a certain period of time and these revenues will be enough to justify an investment.
What Austin-based resource have you found to be the most helpful and why?
Generally, folks in the Austin community are willing to talk to you about your venture. If you reach out to them and tell them that their feedback might be valuable to your venture, they will give you an hour of their time. Also, they are willing to give you further references. The Austin community has the right mindset to enable entrepreneurs by spending time with them and by pushing them to be successful and this is very helpful. I recommend entrepreneurs reach out to and participate in organizations such as Austin Entrepreneur Network (AEN), The Indus Entrepreneur (TiE), Bootstrap Austin and various relevant forums at The University of Texas at Austin.
Robert Larkin of the Daily Juice Talks about His Startup
Robert Larkin of the Daily Juice Talks about His Startup
Where are you from originally?
I was raised between Steamboat , Colorado and Newport, Rhode Island. I consider both the ocean and mountains home. In Steamboat I was training to be an Olympic ski racer before I decided to spend my last two years of high school back on the east coast to receive a world-class education from St. George’s School.
What university did you go to?
I attended the University of Colorado at Boulder. I chose CU Boulder both for it’s engineering program and the accessibility to the outdoors.
What brought you to Austin?
I came to Austin in 2006 for the Acton MBA in Entrepreneurship. I had no plans to stay longer than the 10 months it took to complete the program, however, the people I met over those 10 months are the reason I am still here. Austin is a city with natural beauty, full of driven entrepreneurs, and is a melting pot of culture, business, community, and ideology.
What is the idea behind your startup?
I have a passion for endurance sports. I would have never guessed that Austin, Texas, is where I would be introduced to the benefits of practicing Yoga and eating vegan and raw foods. I began to experience new levels of physical and mental performance resulting from both my Ashtanga Yoga practice and vegan diet. I realized that something as simple as eating a primarily plant based diet could increase your energy, physical appearance, and overall wellbeing. Most of what I had learned was from conversations with and books that were recommended to me from the folks at Daily Juice.
In 2008 a long time friend of mine who introduced me to Acton, raw foods, and Austin proposed that we launch a company focused on local food infrastructure. As we dug into our analysis of what opportunities existed we decided we would start in the middle of the system, between the growers and the customers. At this time we were approached by Daily Juice to help in the expansion of the company, a few months later we had become partners with the founders of Daily Juice bringing capital to open a new location, build a commercial kitchen, and begin developing a product line that would provide people with nutritionally powerful foods that are delicious.
This product line is now the Rhythm Superfoods brand.
The basic idea behind Rhythm Superfoods is that people do not have to sacrifice taste for nutrition. We make foods that are of both the highest nutritional value and have exceptional taste.
What need does it fulfill?
People love to eat. It is a central part of everyone’s social life. We provide a rare opportunity to enjoy great tasting food that you don’t have to feel guilty about eating.
What exactly does your product do?
Our product delivers phenomenal taste and nutrition that is un-matched by any other snack food.
Who is it for?
Our products are for any person who enjoys great tasting snacks that are full of nutrients.
What was the most challenging aspect of starting up a business?
Prioritization. There are many things that must be attended to everyday, they are all urgent, they are all important, and just when you think you have it all under control you something else gets thrown at you.
What is the next step for you and your startup?
We are raising money to grow into serving a national customer base. To do this we will need capital to increase the throughput of both our production and sales operations.
What advice do you have for entrepreneurs?
Get the right people on your team. We have been fortunate to have attracted the best of the best to join with us to execute on the opportunity we identified. Without the help of some seasoned people who share our vision we would be on a much different and definitely more difficult path.
What Austin-based resource have you found to be the most helpful and why?
I am lucky to have the Acton alumni, faculty and staff as friends and resources. Outside of Acton the resource I have found most useful has been the RISE events. At RISE I have been able to connect with many other entrepreneurs and learn about what other people have learned along their entrepreneurial journey.
Where are you from originally?
I was raised between Steamboat , Colorado and Newport, Rhode Island. I consider both the ocean and mountains home. In Steamboat I was training to be an Olympic ski racer before I decided to spend my last two years of high school back on the east coast to receive a world-class education from St. George’s School.
What university did you go to?
I attended the University of Colorado at Boulder. I chose CU Boulder both for it’s engineering program and the accessibility to the outdoors.
What brought you to Austin?
I came to Austin in 2006 for the Acton MBA in Entrepreneurship. I had no plans to stay longer than the 10 months it took to complete the program, however, the people I met over those 10 months are the reason I am still here. Austin is a city with natural beauty, full of driven entrepreneurs, and is a melting pot of culture, business, community, and ideology.
What is the idea behind your startup?
I have a passion for endurance sports. I would have never guessed that Austin, Texas, is where I would be introduced to the benefits of practicing Yoga and eating vegan and raw foods. I began to experience new levels of physical and mental performance resulting from both my Ashtanga Yoga practice and vegan diet. I realized that something as simple as eating a primarily plant based diet could increase your energy, physical appearance, and overall wellbeing. Most of what I had learned was from conversations with and books that were recommended to me from the folks at Daily Juice.
In 2008 a long time friend of mine who introduced me to Acton, raw foods, and Austin proposed that we launch a company focused on local food infrastructure. As we dug into our analysis of what opportunities existed we decided we would start in the middle of the system, between the growers and the customers. At this time we were approached by Daily Juice to help in the expansion of the company, a few months later we had become partners with the founders of Daily Juice bringing capital to open a new location, build a commercial kitchen, and begin developing a product line that would provide people with nutritionally powerful foods that are delicious.
This product line is now the Rhythm Superfoods brand.
The basic idea behind Rhythm Superfoods is that people do not have to sacrifice taste for nutrition. We make foods that are of both the highest nutritional value and have exceptional taste.
What need does it fulfill?
People love to eat. It is a central part of everyone’s social life. We provide a rare opportunity to enjoy great tasting food that you don’t have to feel guilty about eating.
What exactly does your product do?
Our product delivers phenomenal taste and nutrition that is un-matched by any other snack food.
Who is it for?
Our products are for any person who enjoys great tasting snacks that are full of nutrients.
What was the most challenging aspect of starting up a business?
Prioritization. There are many things that must be attended to everyday, they are all urgent, they are all important, and just when you think you have it all under control you something else gets thrown at you.
What is the next step for you and your startup?
We are raising money to grow into serving a national customer base. To do this we will need capital to increase the throughput of both our production and sales operations.
What advice do you have for entrepreneurs?
Get the right people on your team. We have been fortunate to have attracted the best of the best to join with us to execute on the opportunity we identified. Without the help of some seasoned people who share our vision we would be on a much different and definitely more difficult path.
What Austin-based resource have you found to be the most helpful and why?
I am lucky to have the Acton alumni, faculty and staff as friends and resources. Outside of Acton the resource I have found most useful has been the RISE events. At RISE I have been able to connect with many other entrepreneurs and learn about what other people have learned along their entrepreneurial journey.
Sunday, May 23, 2010
Nathan Smith of ETA Computing Talks about His Startup
Nathan Smith of ETA Computing Talks about His Startup
Where are you from originally?
I am originally from Minneapolis, Minnesota and moved to Austin back in 2005.
What university did you go to?
I have a Computer Science degree from Brown College in Mendota Heights, MN and a Business Management degree from Northwestern College in Roseville, MN.
What brought you to Austin?
I moved south to get away from the cold temperatures in MN.
What is the idea behind your startup?
We want to help small businesses get more from their IT investment. By providing our services and experience with flat-rate a pricing model we are positioned to help these businesses really do more with less.
What need does it fulfill?
Many small companies today need help with creating a unified branding image, operational costs, and they need assistance with reducing capital costs around purchasing equipment and software. We want to help these companies by being their virtual Chief Technology Officer for their business.
What exactly does your product do?
We manage every aspect of a company’s Technology infrastructure from their phone system, web domain image, and IT support all the way through to auditing their phone and ISP bills to make sure they are getting the best services for their dollar.
Who is it for?
This service is really for any company that wants to cut down on the expense with supporting their network and save money with their operational costs. Currently most of our customers are in the 10- 150 seat range and this is where we really get to shine with helping to reduce costs. We also have a few customers that are 1-man shops with their website and email imaging to leverage a unified branding process they use to grow their business.
What was the most challenging aspect of starting up a business?
For us the most challenging part of starting the company has really been on the Sales and Marketing side of things. Both owners here have an extensive IT support background so we have gone through many of the tougher steps in getting the business going when it comes to these areas. With all that we have gone through we believe we have identified a few different avenues that businesses can use to grow their business without breaking the bank and wasting a lot of time and money.
What is the next step for you and your startup?
Our next phase for us is actually in hiring qualified Sales Personnel and continuing to work on growing the business. We have spent the time to get all our processes in place to make sure we can take care of our customers and now are looking to grow and gain market share.
What advice do you have for entrepreneurs?
New entrepreneurs need to make sure they really know what it is you want to do and make sure you research how best to reach people when starting your business. The better an idea you have in what you want to do and how to reach people will be a great asset in creating the marketing pieces you need to actually get people attention and interest in what you do.
What Austin-based resource have you found to be the most helpful and why?
I would have to say that the best Austin based resources we have found are the Central Texas Angel Network and local networking groups. The reason I say Central Texas Angel Network is because Hall really knows quality people that can help you in the areas you need help with, and the local networking groups such as Your Local City and NetworkingAustin are great for meeting potential clients and building relationships that really helps to grow your business through referrals.
Where are you from originally?
I am originally from Minneapolis, Minnesota and moved to Austin back in 2005.
What university did you go to?
I have a Computer Science degree from Brown College in Mendota Heights, MN and a Business Management degree from Northwestern College in Roseville, MN.
What brought you to Austin?
I moved south to get away from the cold temperatures in MN.
What is the idea behind your startup?
We want to help small businesses get more from their IT investment. By providing our services and experience with flat-rate a pricing model we are positioned to help these businesses really do more with less.
What need does it fulfill?
Many small companies today need help with creating a unified branding image, operational costs, and they need assistance with reducing capital costs around purchasing equipment and software. We want to help these companies by being their virtual Chief Technology Officer for their business.
What exactly does your product do?
We manage every aspect of a company’s Technology infrastructure from their phone system, web domain image, and IT support all the way through to auditing their phone and ISP bills to make sure they are getting the best services for their dollar.
Who is it for?
This service is really for any company that wants to cut down on the expense with supporting their network and save money with their operational costs. Currently most of our customers are in the 10- 150 seat range and this is where we really get to shine with helping to reduce costs. We also have a few customers that are 1-man shops with their website and email imaging to leverage a unified branding process they use to grow their business.
What was the most challenging aspect of starting up a business?
For us the most challenging part of starting the company has really been on the Sales and Marketing side of things. Both owners here have an extensive IT support background so we have gone through many of the tougher steps in getting the business going when it comes to these areas. With all that we have gone through we believe we have identified a few different avenues that businesses can use to grow their business without breaking the bank and wasting a lot of time and money.
What is the next step for you and your startup?
Our next phase for us is actually in hiring qualified Sales Personnel and continuing to work on growing the business. We have spent the time to get all our processes in place to make sure we can take care of our customers and now are looking to grow and gain market share.
What advice do you have for entrepreneurs?
New entrepreneurs need to make sure they really know what it is you want to do and make sure you research how best to reach people when starting your business. The better an idea you have in what you want to do and how to reach people will be a great asset in creating the marketing pieces you need to actually get people attention and interest in what you do.
What Austin-based resource have you found to be the most helpful and why?
I would have to say that the best Austin based resources we have found are the Central Texas Angel Network and local networking groups. The reason I say Central Texas Angel Network is because Hall really knows quality people that can help you in the areas you need help with, and the local networking groups such as Your Local City and NetworkingAustin are great for meeting potential clients and building relationships that really helps to grow your business through referrals.
Thursday, May 13, 2010
Scott Collins Talks about His Startup
Scott Collins Talks about His Startup
Where are you from originally?
I was born and raised in Houston, TX.
What university did you go to?
I received my undergraduate degree from the University of Texas at Austin. Later, I earned my masters and PhD in Biomedical Engineering at UT-Austin through labs at the Texas Medical Center in Houston.
What brought you to Austin?
School
What is the idea behind your startup?
When traveling to Haiti in 2003, I noticed that donated medical equipment was poorly utilized. To one degree or another, this was true for all of the hospitals I visited. This remained the case on a later visit and continues to this day. These problems can be largely solved by coordinating and intelligently deploying medical equipment and volunteers based on the unique realities encountered in developing countries. Doing this, however, is no small task and beyond the capabilities of most groups and teams who are currently involved. We will bring this knowledge to all groups and foster a collaborative effort between the many groups based on their overlapping visions.
What need does it fulfill?
Hundreds if not thousands of groups, individuals, and companies volunteer their time, efforts, and capital in order to provide medical care to all reaches of the world. Helping locally is hard enough for many, but helping internationally brings up a set of barriers most of us are unaccustomed to. Great efforts and resources are donated with the best of intentions, but results are often disappointing. This is unnecessary and our system helps bridge the gap in expertise and logistics necessary to value people’s time and commitment, resulting in enhanced efforts and donations. Our goal is to help those who are able to save more lives and provide better medical care.
What exactly does your product do?
Our product can be described within two primary contexts. In the first, it is a souped-up Craig’s List like system designed around the medical equipment donations. Not only does it facilitate the initial match between those with equipment and those who need it, but it also handles other tasks at the recepients’ end that could otherwise limit its usefulness. The second context is a community-based portal centered around medical care in the poorer areas of the world. Thousands of individuals and teams provide service—often on their own dime. Many if not most deployments don’t utilize their time and efforts effectively due to unknown yet largely preventable reasons. This portal will help medical, engineering, and other teams avoid these problems and help assure donations of time and capital are used effectually. It will help in planning deployments as well as track long-term results of the same.
Who is it for?
The primary benefactors are the patients in underserved areas. They will benefit from increased healthcare by those using the system including: hospitals, clinics, medical groups, volunteer groups, donors, engineers, the international press, and other entities. The system helps assure everyone’s time and capital are utilized more effectively.
What was the most challenging aspect of starting up a business?
Starting a business in and by itself is easy. The challenge often centers around finding the right team based on the company’s mission/vision, verifying the initial market, assuring sustainability of the company, and funding initial deployment.
What is the next step for you and your startup? Monetization of the product. Social capital is exchanged throughout the system. Creating revenue from this worldwide venture is less understood, but should be solvable. Sustainability for this project is important.
What advice do you have for entrepreneurs?
Embark on ventures you have a true passion for. Find people who compliment your abilities and share the vision. Know what success is then just do it.
What Austin-based resource have you found to be the most helpful and why?
I started my first company quite some time ago. At that time, the entrepreneurial community was not easy to tap into. This has definitely changed. Resources I have found most useful include the community of entrepreneurs that exist here in Central Texas. Since beginning this venture early this year I have met several collaborators through RISE Austin, the Tech Ranch, various technology and entrepreneur meet-up groups such as Austin Tech Happy Hour, and various tweetups, the Austin Entrepreneur Network, etc.
Where are you from originally?
I was born and raised in Houston, TX.
What university did you go to?
I received my undergraduate degree from the University of Texas at Austin. Later, I earned my masters and PhD in Biomedical Engineering at UT-Austin through labs at the Texas Medical Center in Houston.
What brought you to Austin?
School
What is the idea behind your startup?
When traveling to Haiti in 2003, I noticed that donated medical equipment was poorly utilized. To one degree or another, this was true for all of the hospitals I visited. This remained the case on a later visit and continues to this day. These problems can be largely solved by coordinating and intelligently deploying medical equipment and volunteers based on the unique realities encountered in developing countries. Doing this, however, is no small task and beyond the capabilities of most groups and teams who are currently involved. We will bring this knowledge to all groups and foster a collaborative effort between the many groups based on their overlapping visions.
What need does it fulfill?
Hundreds if not thousands of groups, individuals, and companies volunteer their time, efforts, and capital in order to provide medical care to all reaches of the world. Helping locally is hard enough for many, but helping internationally brings up a set of barriers most of us are unaccustomed to. Great efforts and resources are donated with the best of intentions, but results are often disappointing. This is unnecessary and our system helps bridge the gap in expertise and logistics necessary to value people’s time and commitment, resulting in enhanced efforts and donations. Our goal is to help those who are able to save more lives and provide better medical care.
What exactly does your product do?
Our product can be described within two primary contexts. In the first, it is a souped-up Craig’s List like system designed around the medical equipment donations. Not only does it facilitate the initial match between those with equipment and those who need it, but it also handles other tasks at the recepients’ end that could otherwise limit its usefulness. The second context is a community-based portal centered around medical care in the poorer areas of the world. Thousands of individuals and teams provide service—often on their own dime. Many if not most deployments don’t utilize their time and efforts effectively due to unknown yet largely preventable reasons. This portal will help medical, engineering, and other teams avoid these problems and help assure donations of time and capital are used effectually. It will help in planning deployments as well as track long-term results of the same.
Who is it for?
The primary benefactors are the patients in underserved areas. They will benefit from increased healthcare by those using the system including: hospitals, clinics, medical groups, volunteer groups, donors, engineers, the international press, and other entities. The system helps assure everyone’s time and capital are utilized more effectively.
What was the most challenging aspect of starting up a business?
Starting a business in and by itself is easy. The challenge often centers around finding the right team based on the company’s mission/vision, verifying the initial market, assuring sustainability of the company, and funding initial deployment.
What is the next step for you and your startup? Monetization of the product. Social capital is exchanged throughout the system. Creating revenue from this worldwide venture is less understood, but should be solvable. Sustainability for this project is important.
What advice do you have for entrepreneurs?
Embark on ventures you have a true passion for. Find people who compliment your abilities and share the vision. Know what success is then just do it.
What Austin-based resource have you found to be the most helpful and why?
I started my first company quite some time ago. At that time, the entrepreneurial community was not easy to tap into. This has definitely changed. Resources I have found most useful include the community of entrepreneurs that exist here in Central Texas. Since beginning this venture early this year I have met several collaborators through RISE Austin, the Tech Ranch, various technology and entrepreneur meet-up groups such as Austin Tech Happy Hour, and various tweetups, the Austin Entrepreneur Network, etc.
Monday, May 3, 2010
Lemonade Day -- Entrepreneurship for All
Lemonade Day comes every year in May and did so this past weekend on May 2. For those who don't know, Lemonade Day" happens across the country with kids setting up lemonade stands to sell lemonade and learn entrepreneurship in the process. Over 10,000 stands were put up in Austin last weekend, with sponsorship coming from big names such as HEB, Trilogy and Imperial Sugar.
Essentially, the young entrepreneur must focus on creating the product (lemonade), marketing it, and keeping track of the costs and profits. If you missed it, your kids can get ready for next year or even run their own lemonade day as the summer is quickly approaching and you'll have quite a market for your product. Check out this video to learn more.
Essentially, the young entrepreneur must focus on creating the product (lemonade), marketing it, and keeping track of the costs and profits. If you missed it, your kids can get ready for next year or even run their own lemonade day as the summer is quickly approaching and you'll have quite a market for your product. Check out this video to learn more.
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