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Blog » Archive for May, 2017

Capital Efficient Entrepreneurship: Bonanza Co-Founder Mark Dorsey (Part 4)

Posted on Thursday, May 11th 2017

Sramana Mitra: Help me understand the timeline now. When did you create this member program so you could keep the servers going? What year did you switch to being able to charge final value fee? What year did the membership program really start generating significant revenues? Mark Dorsey: We launched the beta in June of

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352nd Roundtable For Entrepreneurs Starting NOW: Live Tweeting By @1Mby1M

Posted on Thursday, May 11th 2017

Today’s 352nd FREE online 1Mby1M roundtable for entrepreneurs is starting NOW, on Thursday, May 11, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!

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Bootstrapping a Two-Sided Marketplace to $10M: Sal Akbani, CEO of Gateway Classic Cars (Part 4)

Posted on Thursday, May 11th 2017

Sramana Mitra: We’re now at the end of 2000. You’ve got this model that is validating. You’re starting to make a little bit of money with which you can pay yourself. What are the next key strategic moves and what were the next key inflection points in the business? Sal Akbani: The next strategic move

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Capital Efficient Entrepreneurship: Bonanza Co-Founder Mark Dorsey (Part 3)

Posted on Wednesday, May 10th 2017

Sramana Mitra: How did you mitigate the constrained budget? Mark Dorsey: I’m really proud of this. It’s something that we take a lot of pride in. We identified that we had a very rabid seller fanbase who were willing to do whatever it took to make our company the most successful marketplace online. Realizing that,

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Man and Superman: Is There an Action Item?

Posted on Wednesday, May 10th 2017

In order to give focus to some major changes she sees on the horizon, Sramana Mitra has written several pieces that grew out of her original article, Man and Superman: Human History Bifurcates. The previous articles in this series: Two Distinct Species; What CAN Be Controlled?; Rationalizing Populations; How Long Does Democracy Survive?; The Environmental Time Bomb; Role of Religion, and Will

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Bootstrapping a Two-Sided Marketplace to $10M: Sal Akbani, CEO of Gateway Classic Cars (Part 3)

Posted on Wednesday, May 10th 2017

Sramana Mitra: Your site operates as a two-sided marketplace except you store the inventory. Sal Akbani: Yes, and we have currently 14 plus 1. Sramana Mitra: What does that mean? Sal Akbani: We have 14 active ones [warehouses] and we have one more coming up in Denver on June. We’re currently also working in Scottsdale

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Capital Efficient Entrepreneurship: Bonanza Co-Founder Mark Dorsey (Part 2)

Posted on Tuesday, May 9th 2017

Sramana Mitra: What year did Bill start coding the product? Mark Dorsey: That was in 2007. He started building Bonanza from the ground up. At that time, there were a lot of eBay alternatives. The opportunities were obvious. There were a lot of programs that allowed you to create an e-commerce marketplace by just filling

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Bootstrapping a Two-Sided Marketplace to $10M: Sal Akbani, CEO of Gateway Classic Cars (Part 2)

Posted on Tuesday, May 9th 2017

Sramana Mitra: What did you do to wipe the initial money out? How did you use that money? Sal Akbani: You have real estate expenses because you need a place to store cars. You had to have the money to market those cars. Sramana Mitra: Were you buying cars? Were you actually holding on to

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