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Donna Wells (Mindflash) Small Biz Tech Tour PPT - http://www.smallbiztechtour.com
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Leveling the Playing Field
Technologies to Help Small Businesses Beat Big Competitors
Donna Wells, CEO - Mindflash
I’ve Enjoyed Both Perspectives
Big Guys: Can We Beat Them?
More Technology
More Money
More People
Big Businesses Have
but YES!
Ju-Jitsu: Because striking against an armored opponent proved ineffective …techniques were developed using an attacker's energy against him, rather than directly opposing it.
Others Might Not Think so…
Others Might Not Think so…
More Technology
More Money
More People
Big Businesses Have
But YES!
Leverage to get an edge
Run your business for a fraction of their cost
Move faster, learn faster
Small Businesses Can
Leverage *Their* Technology
Leverage Competitor Technology
Big Co’s under pressure to get higher return from technology investment
Giving you access to free/low cost headstart Open Source API’s Platforms
Today
Leverage Case Study #1: Mint.com
Leading provider of account aggregation software to large banks
No interest in B2C Market
Licenses core technology to increase return on $100 Million + investment
Leverage Case Study #1: Mint.com
Patented expense categorization
Personalized savings algorithms
Breakthrough design and ease-of-use
Online personal finance service launched in 2007
Licensed Yodlee software for $’s per user
r
Leverage Case Study #1: Mint.com
Leverage Case Study #2: Mindflash
Leading providers of content creation software for small businesses
98% desktop presence
Leverage Case Study #1: Mindflash
Breakthrough online training app launched yesterday
No new software
Automated course management
Easy-to-add Quizzes
Real-time reports
Allows anyone to create a course in minutes
Leverage Case Study #2: Mindflash
API Resources
Run your business for a fraction of their cost
Finance/Billing
Web Hosting
*Lean StartUp Company* Shopping List
Amazon Web ServicesRightScaleSliceHost
Financial ForceFreshBooksNetSuiteZuora
Dev Management
RallyJira
Customer Service/Forums
Salesforce.comGet Satisfaction
TriNetSuccess FactorsTaleo
LinkedInJobScoreSolvateElegant.ly
HR
Recruiting
99 DesignsPardotAdWordsHubSpotSEOMozMail ChimpWordPress
Marketing
$100
$999
$500
$0-$99
9
$999
$4,000
$999
Lean Strategy Impact on Costs
Total annual cost of running your business on great and inexpensive B2B SaaS applications? $70 to $120 K
In contrast ...
Running a lean company on these apps:
Reduces the amount of capital you need to raise
Retains equity for founders and employees
IMO, gives you faster and better insights into your customers, operations and business model
The Catch? You’ve got to get Demand
More than Big Co’s, Small Businesses *have* to identify a real pain point … preferably one which costs the user real money
Have to get the Product right … ideally first-to-market with a Minimum Viable Product1
Have to have right Customer Development mindset, processes and technology to continually learn and improve2
1 Eric Ries, StartUpLessonsLearned.com2 Steve Blank, Four Steps to the Epiphany
Move Faster, Learn Faster
Collaboration
*Lean Company* Shopping List
Web Analytics
Zoomerang
SurveyMonkey
HootSuite
Ethnio
Usabilla
UserResearch.com
Research
$0 - $99
9
$0 - $99
9 $0 - $10
0
Google Analytics
Google Web Optimizer
ABTest.com
KISSMetrics
DropBox
Skype
Yammer
Campfire
Wordpress
DimDim
What the Lean Company Knows About Demand
I don’t have to get up at 4 am for Product Launches anymore
What the Lean Company Knows About Demand
There is No Try …
… Only Do
What the Lean Company Knows About Demand
You’re Either Moving Up and to the Right
… Or You’re Not
Lean Strategy Impact on Demand
Total Mint.com marketing spend was $2 million from 2007 to 2009. Roughly what I was spending in 2 average days at Expedia in 2005.
Average cost to acquire each of 1.5 million Mint.com users was $1.10.
In contrast …
Two Parting Thoughts
The two biggest challenges known to mankind:1. Create something new 2. Change human behavior
… and open source technology.
David defeated Goliath with a better idea, better executed
Others Might Not Think so…
More Technology
More Money
More People
Big Businesses Have
but YES!
Leverage to get an edge
Run your business for a fraction of their cost
Move and learn faster
Small Businesses Can
Questions?
Thank You