Lead to Win

MemoridiaSerge Lafontaine

19-May 2009

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Lead to Win

Who am I?

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1995 2000 2001 2002

ESION

2004 2005

MemoridiaMemoridia

•HW Engineer•Management Roles•Worked in various size organizations -

Lead to Win

My Next Start-Up Criterias

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•No more than employee #5•All others work for employees 1 to 5

•From idea to production in less than 6 months

•Bootstrap. No VC or Friend and Family money

•Pay Employees with real $ •stock options / sweat equity is gravy -

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Memoridia

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•Capture and Share the Moment•Situation where participant could not take picture

•Product: Multimedia CD with•Fixed Content (multimedia video, 360 pictures, etc)•Personalized Content (picture)

•From Click to Burn in less than 2 min

•Concept could apply•Tourism industry•Sporting Events -

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Memoridia Team

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Chris

Frank

SERGESerge

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Find First Customer

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Why them?

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•Wanted to prove concept in a controlled environment•Electricity on-board•Captive audience for 4 hours•Rain or shine, train was going

•Original idea was to use the Steam Train to approach Greyhound / Double Decker buses

•Train was only the proof of concept -

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Time Line

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JAN2004

MAY2004

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Memoridia Team

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Chris

Frank

Serge

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Time Line

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JAN2004

MAY2004

JULY2004

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Two Options

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•At that point, except for our time, broke even:•Computer Equipment•Digital Cameras•Student Payroll

•BUT,we were sitting on 1000+1000+ pre-programmed CDs

Stop or Continue?Stop or Continue?

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I continued!

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•Lasted until Labour Day•Even had to order another batch of blank CDs•Made a modest “profit” that paid for two weeks

Costa Del Sol - Spain

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Lessons Learned

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•Shareholder Agreement – FIRST•Make sure everyone has financial skin in the game

•Test your Business Plan as early as possible. We assumed•$5 CDs, 40% of people bought at $15•100+ pictures, our best trip was 50 pictures

•Don’t build your business on advertising revenues•Advertising $ will be bonus and will come later

•Pay yourself •If you can’t give yourself a salary, business plan does not work•You can only go so long on sweat equity

•Keep your domain name even if you fold•Within a day of expiry, someone grabbed mine -

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What do I do now?

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•Two young daughters 2 and 5 years old

•Help Hardware companies in Ottawa with their component needs

•Getting ready for the golf season!

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Questions?

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THANK YOU!!!THANK YOU!!!