Sramana Mitra: What was the business model? Shane Neman: It was the traditional media model where we sold ads on our website. We also sold the photos and the print copies. It doesn’t seem like it, but we found a way to find a third-party printer and batch take them and then you sell them
Sramana Mitra: There was little due diligence before people were willing to write checks at that time. Shane Neman: In retrospect, I wouldn’t have given myself a check. We got almost $2 million. I wasn’t part of the finance portion of things. I was the CTO. We built this company and hired people. We built
Shane Neman is the Founder of EZ Texting, JoonBug.com, and Principal at Neman Ventures. Shane has bootstrapped two companies as a solo entrepreneur, found successful exits for both, and is now an investor. Needless to say, he has no bias against solopreneurs. Sramana Mitra: We are going to spend quite a bit of time today
Michael Smerklo: I am passionate about encouraging people. The start of my book is called Mr. Monkey. He was the voice in my head that said, “You will never be successful. You won’t do it.” The book is about trying to give aspiring entrepreneurs and entrepreneurs the mental tools to take that first step. If
Michael Smerklo: Don’t let the idea that your idea isn’t big enough prevent you from get going. See where it goes. I am in line with what you said, and I am so passionate about it. Even though my day job is as a venture capitalist, I say to entrepreneurs all the time that if
Sramana Mitra: There are three trends that I think have accelerated. People are at home and are working at home. Their whole social life has gone out of the window. There is more family time when you have the right conditions and so forth, but people also have a lot more time to think. One
Sramana Mitra: I will tell you one thing that you may want to take note of. On the coast, there is also the kind of venture that you are looking for. They are capital-efficient ventures run by people who don’t want to play the unicorn game of flushing companies with capital. This came to be
Sramana Mitra: What are some of the companies that you have invested in the themes that are accelerating? What has been their journey? Give us a few examples. Michael Smerklo: One of the examples on the healthcare side is a company called Everlywell in Austin, Texas. We invested in them four years ago. They do