Lean Startup Presentation for EWPN from Yu-kai Chou

transcript

Social CRM for Local Commerce

Yukai@RewardMe.com

REWARDME.COM

TEAM BACKGROUND

The team met at UCLA and has worked in startups together for 4 years.

REWARDME.COM

TEAM BACKGROUND

Notable Startups include Onebox (sold $850M), Verdisoft (sold $93M), SEVEN Networks, Caustic Graphics (sold $27M), and Bunchball

REWARDME.COM

Our core strength lies in eCommerce, Social Media and Gamification; we have spoken or led campaigns for many brands and universities.

Team Background

RewardMe In Store

REWARDME.COM

info@rewardme.com | (888) 255-2512 | www.RewardMe.com

3. Influence customer behavior in Real-time

1. Capture customer data at POS with Loyalty

2. Intelligently segment customer preferences

How CRMs SHOULD Work

Better Loyalty Engagement

3. Influence customer behavior

Better Loyalty Engagement

3. Influence customer behavior

Better Business Intelligence

Better Customer Relationship

Real-time Intelligent CRM

"While there are many loyalty products in the market, RewardMe innovates towards delivering great value by empowering businesses with deep and actionable knowledge of their customers in realtime."

-HP Jin, CEO of TeleNav (NASDAQ: TNAV)

REWARDME.COM

Evaluation

Negotiations(VP+ Level)

Full Rollout

Traction

REWARDME.COM

The Other Side

• 4 Years of Struggling• No income• 80+ hour weeks• Doubted by peers and family• Failure after failure - economic

conditions and team morale

REWARDME.COM

The Startup Journey

• FDWorld ->• FDCareer ->• Viralogy: Social Media Ranking ->• Viralogy: Recommendation Engine ->• RewardMe: QR Code Loyalty ->• RewardMe: Social CRM :D

Key Lessons

REWARDME.COM

1. Stay Lean

• Founder Salary???• Recruit with Passion• Have a Technical Co-founder• Be resourceful• Work-Work Balance• Utilize social media

REWARDME.COM

2. Pivot Fast

• Launch fast• Validate faster• Customer development• Flashlight vs Laser• No time to mope - move on• Keep team morale together

REWARDME.COM

3. Raise Money

• 3 Fs: Friends, Family, and Fools• Seed Round: Angel Investors• VC Round: Requires Traction• Keep everyone regularly updated• Play the Game - eliminate neediness• Regional Differences

REWARDME.COM

4. Financial Projections

• Don’t waste too much time on it• Focus on Target Addressable Market• Use bottom-up calculations• Have a clean assumption sheet• Start moderate, end aggressive• Don’t waste too much time on it

REWARDME.COM

5. Competition• Endorse your competitors as your

best teachers• Competitors don’t kill startups• Indifferent customers do• Laziness is your enemy• Competitors can teach you how to

eliminate customer laziness

REWARDME.COM

6. Stay Focused

• Flashlight vs Laser• Pick a niche• Limited resources• Focus product• Focus marketing• Let go of distractions

REWARDME.COM

Thank You

Yu-kai Chou

714.273.7088

Yukai@RewardMe.com