BBC #10: 3/18/13

Presentation and Presenter: Lessons from a Solar Startup, Mike Kirby

For the 10th meeting of the BBC, I got back in the ring and gave a powerpoint presentation about my experience with a start up solar company for 3 years.  The discussion revolved around the following 3 stages of the business: 1.) Planning to Fail (October 2009-July 2010), 2.) Moving Up (August 2010-December 2011), and 3.)  The Decline (January 2012-Fall 2012) .

The discussion went in a linear direction, highlighting important events and actions that occurred in the business.  We also analyzed how decisions can effect outcomes 6, 12, and 24 months later, both in positive and negative ways.   As we discussed some of the specific actions and experiences in the various stages, I highlighted several lessons I learned that I believe transcend to other businesses, and illustrated them with very real examples.

1. Test Ideas Fast, Test Ideas Cheap

2. Sales: The Only Thing that Matters

3. Early Decisions have Big Consequences

4. Always Be Closing (ABC) is True, but Don’t Forget ABP (Always Be Prospecting)

5. Differentiate

6. Use Caution When Taking On Investors

7. Avoid Crippling Situations

8. Maximize the Opportunities in Front of You

9.  Everyone Innovates During a Crisis –> Innovate Before the Crisis

10. The Status Quo is Easy, Grow through New Challenges

Presentation and Presenter: Rebecca Yarbrough, The Offline Society

Rebecca Yarbrough currently works in the solar industry in a marketing/business development role.  However, over the last year or so, Rebecca and two others have worked on an alternative/compliment for the current mobile dating applications used heavily in the Washington DC area called “The Offline Society.”

Many people in their 20s and 30s use dating apps on their smart phones such as OkCupid.  Rebecca and her team wanted to provide something better than the current online interaction and created the Offline Society to help those “suffering from online dating fatigue.”  Essentially, they host events that match 25 single men and 25 single women from OkCupid.  However, her team does not simply pick 25 random men and women.  They use the OkCupid platform to verify and help manage the planning of the events, but also utilize their own process to handpick a crowd they believe will blend well together.  On top of handpicking a crowd of DC singles, they encourage interaction at the event with different ice breakers and similar activities that you wouldn’t find at a bar.  By including these types of games during the “party,” The Offline Society has so far been able to provide a unique experience that allowed them to increase their price for their second event and still sell out through word of mouth marketing.

The Offline Society charges a ticket price to attend and also brings in revenue from beverage sales.  Two events have been held so far with moderate success.  They sold out both and the response from the attendees has been positive, but one major challenge deals with the time commitment from the Offline Society team.  All 3 women have full time jobs and have found it difficult to drive the business, but do hope to host their 3rd event soon.

Some of the topics we discussed included:

What other revenue sources are available?  What legal issues are relevant? What are the short and long term goals?  Have there been any major challenges?  Successes?  Is a membership model possible?  Pricing issues?  How many events annually?

You can check out their website at theofflinesociety.com.