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
Sramana Mitra: What was the startup in 1981 and what was the environment in which that startup was coming together? Paula Tompkins: It was a very interesting time, around the birth of the personal computer. Adam Osborne had introduced his luggable computer. It was a CPM machine. The man that I went to work for