During this week’s roundtable, we had as our guest Daniel Cane, CEO and co-founder of Modernizing Medicine. Dan has followed a unique and tremendously effective strategy of raising equity crowdfunding from his customers, about 100 of them, and reflects on how well it has worked for him. LeadCrunch As for the pitches, first up, Olin
Today’s 278th FREE online 1M/1M roundtable for entrepreneurs is starting NOW, on Thursday, October 1, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join.
Today’s 278th FREE online 1M/1M roundtable for entrepreneurs is starting in 30 minutes, on Thursday, October 1, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!
Sramana Mitra: Essentially, the $400,000 in the first year was from about 8 to 10 deals? Ernie Bray: Yes. We had about 8 to 10 clients. Sramana Mitra: These were clients that would remain as recurring revenue clients, because they would continue to use your system and the pricing model is based on number of
Sramana Mitra: When you were actually processing claims, what did you see that triggered this idea? Ernie Bray: What I saw was that claims technology systems were outdated. They were just green screen technologies at that time. I’ll give you an example. When I was looking at AAA, appraisers would go out and take photographs of
Ernie Bray: After three years, we ended up shutting down the business. It was my first taste of starting something on my own from scratch. We didn’t make much money, but during that time we didn’t know how to monetize something on the Internet. This was new, but it was the thing that clicked for me.
Ernie leveraged his domain knowledge in auto insurance claims processing, and has built a robust, sustainable business. He uses a virtual workforce strategy to scale. Sramana Mitra: Let’s start at the very beginning of your story. Where are you from? Where were you born, raised, and in what kind of circumstances? Ernie Bray: I was
Entrepreneurs are invited to the 278th FREE online 1M/1M roundtable mentoring session on Thursday, October 1, 2015, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any