If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Colin, in one of his ventures, worked 10 years, and made no money when the company was exited. Subsequently, his perspective has evolved, and in this interview, he offers lessons on what to watch out for. Sramana Mitra: Let’s start at the very beginning of your
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Kean wanted to be able to build a digital business that he could work on from anywhere in the world, a lifestyle business that fulfils a very specific desire. Read his fascinating story, as the business has now started to scale. Sramana Mitra: Let’s start at
Sramana Mitra: How did the revenue move from a million dollars in ’87. Where are you now? Paula Tompkins: We have been through three major downturns. The first in the 1990’s where we had to reinvent ourselves. Then there was the 2001 dot-com collapse where one of my major clients came to me and said,
Sramana Mitra: When you moved to create this platform, what year was it and what was the competitive landscape into which you were coming with this platform? Paula Tompkins: It was non-existent at that point. Sramana Mitra: What year was it? Paula Tompkins: 1999. What you really have to understand is, we have always done
Sramana Mitra: What was the sweet sauce in your digital marketing offering? Paula Tompkins: I like to call it the next best thing to a sales call at a fraction of the cost. If you look at the shopping process for a car, as an example, you want to see how the vehicle looks, you
Sramana Mitra: Let’s talk about from the point of view of building this company. You said the company started in 2009? Olivier Hua: The company started in 2007. Sramana Mitra: At that point, the product was the thermometer? Olivier Hua: Correct. Sramana Mitra: How long did the company function in that one product mode and
Sramana Mitra: What year is that? Paula Tompkins: 1985. Sramana Mitra: Tell us a bit about the idea and how you came up with it. Paula Tompkins: As I mentioned, the idea was that personal computers were gaining popularity. In 1985, there were about 10 million personal computers. There was the Macintosh, which had just
Sramana Mitra: How do you go to market? Are these sold as consumer devices? Are they sold as devices to doctor’s offices? How is the go-to market strategy structured? Olivier Hua: Initially, our products were sold through pharmacies. Sramana Mitra: A thermometer being sold through a pharmacy makes sense, but you’re talking about ECGs and