don't get funded: how to use your customers to bootstrap
Post on 18-Oct-2014
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Don’t Get Funded: How to Use Customers to BootstrapPatrick Campbell @Patticus
Price Intelligently | HOBSONS
AGENDA
• Quick overview of Price Intelligently and myself
• Why you need to rethink funding?
• When funding is necessary?
• Alternatives to Funding
• Building a business without funding
• Things to look for when raising cash
Price Intelligently | HOBSONS
A Caveat.
Price Intelligently | HOBSONS
A Caveat.
Investors can be superheroes, you just need to raise right.
Price Intelligently | HOBSONS
LET’S TALK ABOUT
Price Intelligently | HOBSONS
Deep customer pricing intelligence for software companies.
Price Intelligently | HOBSONS
PRICING AND KEY MILESTONES:• May 2012: Founded in Boston• Nov. 2012: 50+ Customers
International Expansion to UK, Canada, & Australia• Jan. 2013: Expanded Team to 10• April 2013: Completed Over 100,000 Pricing Studies
LEADERSHIP:• CEO/Co-Founder: Patrick Campbell• Technologist/Co-Founder: Christopher O’Donnell• Technologist/Co-Founder: Aaron White
Over 30+ Years of Economics & Technology Experience
Price Intelligently | HOBSONS
EXPERIENCE IN SOFTWARE
"The Price Intelligently team removed the guesswork from our pricing strategy, providing us with hard data from real people that fit our personas. Pricing is something we have to
get right; our business depends on it.
"We were incredibly pleased with Price Intelligently. I would recommend them to
anyone who wants real data on the value customers and prospective customers place on your products and features.”
“Price Intelligently was able to collect and compile more information than we ever could.
PriceIntel helped us quickly understand the customer value of our product, which was data
that we couldn’t get anywhere else.”
"To me, pricing is the one area that marketers need to consider first and foremost. PriceIntel
makes the pricing process painless and remarkably powerful with its extraordinary
findings and in-depth analysis.”
CEO – Nick Francis Director of Product – Chris Bulger
CEO – Chris Savage CMO – Jeanne Hopkins
Price Intelligently | HOBSONS
ACTIVITY #1:
Price Intelligently | HOBSONS
WHY YOU NEED TO
Price Intelligently | HOBSONS
THE
Price Intelligently | HOBSONS
THE BUT,
ONLY 1% OF
COMPANIES RAISE MONEY
Price Intelligently | HOBSONS
COSTS ARE
Price Intelligently | HOBSONS
SPEED ISN’T GOOD IF YOU’RE RUNNING IN
THE WRONG DIRECTION
Price Intelligently | HOBSONS
FUNDING IS
Price Intelligently | HOBSONS
1. HIGH CAPITAL
Price Intelligently | HOBSONS
2. WHEN YOU KNOW
Price Intelligently | HOBSONS
3. WHEN YOU’VE
Price Intelligently | HOBSONS
TONS OF
Price Intelligently | HOBSONS
1. KICKSTARTER
Price Intelligently | HOBSONS
BUILDING A BUSINESS
Price Intelligently | HOBSONS
FOCUS ON A STEP-
Price Intelligently | HOBSONS
ACTIVITY #2:
Price Intelligently | HOBSONS
FOCUS ON WHAT
Price Intelligently | HOBSONS
YOUR BUSINESS
Product and Company
Persona 1
Features E,F,G,H
Value Proposition 1,2,3,4 Value Proposition 5,6,7,8
Pricing
Features A,B,C,D
Value Proposition 1,2,3,4
Price Sensitivity & Value Metrics
Features C,D,E,F
Value Proposition 5,6,7,8
Price Sensitivity & Value Metrics
Persona 2
Price Intelligently | HOBSONS
OUTSOURCE AND
Price Intelligently | HOBSONS
ACTIVITY #3:
Price Intelligently | HOBSONS
OUTSOURCE AND
Price Intelligently | HOBSONS
ACTIVITY #4:
Price Intelligently | HOBSONS
THINGS TO LOOK FOR
Price Intelligently | HOBSONS
DON’T:
Price Intelligently | HOBSONS
DO:
Price Intelligently | HOBSONS
GREAT VCS:
Price Intelligently | HOBSONS
QUESTIONS &
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