Got together this morning with Lance Weatherby, Ashish Mistry and John Broadus to talk about Reger.com. We bounced around a good bit which is something I can generally avoid in meetings, but the end result was acceptable and productive. Meeting agenda included below:
Goal: ==== How to spend 40K budget to get 200K revenue in 4 months?
Rules: ==== No bad ideas: this is not an operational meeting... it's an idea meeting. Time: 9AM - 11PM core meeting + opt-in extended time John must leave at 10AM
Possible Activities: ============= Continue to familiarize Lance, Ashish and John with Reger.com. Business milestones discussion. Ashish & John enterprise sales approach Lance consumer approach Reger.com demos Powerpoint reviews DARPA review
Sales Resources: ============ Lance Weatherby's consulting firm Ashish Mistry John Broadus Lead generators like PointClear My time, father's time, step father's time, sister's time
Revenue sources: ============= Consumer pays for Pro Consumer pays for storage Consumer pays for bandwidth Consumer pays for support Consumer sale (download & self-install) Advertising model (simple banners) Advertising model (log-specific sponsorship) Advertising model (RSS, podcast) Enterprise sale (download & self-install) Enterprise sale (installation) Enterprise sale (licensing) Enterprise sale (support) Enterprise sale (culture consulting) Enterprise sale (hosted community, pl) Enterprise sale (custom software development) API freezing fees OEM integration licensing fees Depersonalized data brokering
Concerns: ======= Do enterprise sales distract us from the long-term goal of a consumer model? If no enterprise sales, can we grow revenue from consumers directly starting today?
Business Milestone Proposal: ===================== 0 - 4 months: Use $40K to get $200K in revenue 0 - 6 months: Angel round $600K 0 - 12 months: Enterprise sales to consumer aggregator market (newspapers/magazines/radio) 12-18 months: Venture round $4-8M 12-24 months: Consumer market focus 28-48 months: OEM integration push
Product Milestone Proposal: ==================== 1 month: downloadable version 2 months: high quality user templates 3 months: XML Schema limited support 6 months: Xforms or other support 9 months: developer plugin program 12 months: open source olap engine integrated