Jake Weatherly - Startup Weekend Presentation

1April 19, 2013

Jake Weatherly – CEO & Co-Founder, SheerID, Inc.

My Story

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Idea vs. Opportunity• Total Addressable Market• Market Size x Value of Product/Service = Opportunity• Beware the “$1 from Everyone in China Assumption”

• Timing – Product/Service Adoption• Apple Newton vs. Apple iPad

• BEWARE of the “If you build it, they will come” trap• Tests• Get Pitch-ready• Is the Team Forming?• Are Advisors Joining?• Are you Getting (Potential) Investors/Partners/Prospects Excited?

BONUSPitch to your Parents and Grandparents.

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Don’t Lose Sight of Tradition• Functional Areas of Business• Marketing• Sales

• Ecommerce: Funnel, Platform, Processing, Fulfillment, Service/Support

• Direct Sales Model: Prospecting, Network, Tools, Style• Channels, Partners, Resellers, JVs, Affiliates

• Development• Subscribe to the Agile Manifesto• Architecture/Design, Engineering, Testing• Improvements, Project Management

• Service• Never Lose Customers

• Finance• Bring in Accounting Early

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Marketing• Phase 1: Research• Planning & Getting Pitch-Ready• Focus Groups & Surveys• Go Old-School, Guerilla Tactics

• Phase 2: Test Marketing/Sales• Create Value with Contracts, LOI’s, Quotes

• Phase 3: Launch• Multi-variant Test EVERYTHING• Rinse & Repeat

• Phase 4: Leveraging Success/Validation• Develop Content for Validation – Expertise, Testimonials, White Papers

• Phase 5: Exit• There’s an Art to Marketing for Exit

BONUSThere’s Always Competition – Analyze It!

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It’s ALL About the Team• Be a Co-Founder, not a Founder• Collaborate• Start-up Team Math is Multiples (1+1=3)

• Hire Right• Your Network – Team, Advisors, Family, Friends

• YOU CAN BUY TIME• Fire Fast!

BONUS1. You DON’T have time to “ramp” team members.2. Hire for Experience, Skills, Network, Work Ethic.3. Raise Funds/Give Equity Accordingly

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Piggyback – What’s Out There?• Incubators• Founders Seeking Co-Founders• Seasoned Executives• Investors & Advisors

• Contractors• VA’s• Outsourcing• JVs• Partnerships• API’s• OpenSource Projects• AWS/EC2

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Piggyback – What’s Out There?• MarketPlaces• Amazon• eBay• BestBuy• AppStore• SalesForce AppExchange• FaceBook• GroupOn/LivingSocial• Etsy• Magento/Xcommerce/eBay/PayPal• BrainTree/PayPal

BONUSUse Monsoon Commerce to Simplify Operations

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Beware of the Sexy Factor• Investment is Dangerous• Don’t Celebrate Early, but Definitely Celebrate Often• Pass Break-Even & Build• 24 Hours in Vegas, 12 Hours in San Francisco• 24 Hours in Malibu – On the Beach?• Spend Money like You’re Homeless

BONUSCulture is Important – Share the Risk, and Share the Rewards

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The Plan is ALWAYS Wrong!• Banks want Business Plans• Start-up Funding from Banks is Dead• Pitch Deck is the New Plan• Forecast your Financials – Constantly• ….And be Religious about “Planned vs Actual” Analysis

BONUSUse Forecasting Templates – Business Plan Pro, LivePlan, Business Plan Builder, Etc.

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Student DiscountsCoupon Codes Customer Loyalty Programs Active-Duty Military

Teacher/FacultyGovernment Employees Travel Agencies

Discounts for Corporate Partners Membership Groups

Discounts for Non-Profits Military Veterans Employee DiscountsNew Customer Discounts Small Businesses First Responders

SheerID, Inc. Confidential and Proprietary Information

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SheerID Verifies

Hosted Solution--PGA

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Go To Site

SheerID, Inc. Confidential and Proprietary Information

Integrated Solution—Tableau

13Go To Site

SheerID, Inc. Confidential and Proprietary Information

Reseller Solution—Amazon

14Go To Site

SheerID, Inc. Confidential and Proprietary Information

Jake Weatherly Jake@SheerID.com 541.221.9504

SheerID, Inc. Confidential and Proprietary Information

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Now GO START YOUR BUSINESS!!