Start Up to Success: The good, the bad, the ugly (ICE Retailer Keynote - Rick Wilson)

Start Up to Success:The good, the bad, the ugly

“I’m Not A Rat!What Am I Doing In This Race?”

My Miva Story – Part 1

SALES AND BUSINESS DEVELOPMENT FOR “ORIGINAL” MIVA

SOLD OUR PRODUCT THROUGH WEB HOSTING COMPANIES

I PERSONALLY TRAVELED 18 - 20 DAYS A MONTH

WHEN THE DOTCOM CRASH HIT – I WAS “BURNT OUT”

MIVA WENT SURVIVAL MODE (2002-2003)

SOLD MIVA, INC. IN 2004 TO FINDWHAT (NASDAQ: FWHT)

18 MONTHS ON CORPORATE WELFARE

TOOK SOME TIME OFF (18 MONTHS)

My Miva Story – Part 2

STARTED ANOTHER SOFTWARE COMPANY (FAILED)

WEIGHT LOSS (DR. PHIL SHOW)

“DO YOU WANT TO BUY MIVA (MERCHANT)?”

PUT TOGETHER A TEAM TO PURCHASE MIVA MERCHANT FROM

“FINDWHAT” (THEY HAD REBRANDED TO MIVA)

REBUILT COMPANY, SUPPORT FIRST, THEN BUG FIXES

RISE OF THE SOFTWARE AS A SERVICE MODEL/WORLD

RISE OF THE NON-TECHY ETAILER

RISE OF THE “MID-MARKET” ETAILER

Challenges In Our World

VC FINANCED MONEY LOSING MACHINES

-SHOPIFY

-BIGCOMMERCE

BIG COMPANIES GETTING IN OUR SPACE

-AMAZON WEBSTORE

-GODADDY

-SQUARE

-EBAY (MAGENTO)

How Do We Deal (Philosophically)?

FOCUS ON OUR CLIENTS

SUCCESSFUL CLIENTS, WITH GOOD ROI ARE ALL YOU NEED

“DOG-FOODING”

- SITE BUILDS

- SELLING MIVA THROUGH MIVA

PUTTING YOURSELF IN THE CUSTOMERS SHOES (FROM A BIG

PICTURE STANDPOINT)

AS A SELF SUSTAINING PROFITABLE PRIVATELY HELD BUSINESS,

WE’RE ULTIMATELY IN CONTROL

How Does My Story Apply To You?

How Does My Story Apply To You?

AMAZON IS THE WALMART OF ONLINE COMMERCE

WALMART IS THE AMAZON OF BRICK AND MORTAR COMMERCE

WHAT ON EARTH CAN A SMALL BUSINESS DO?

AMAZON/WALMART CAN (AND WILL) KILL YOU, IF YOUR PRODUCT IS

A COMMODITY

THEY’RE ALL BUT POWERLESS IF YOUR SUCCESS IS BASED ON

YOUR OWN INTELLECTUAL PROPERTY

How Does My Story Apply To You?

Grow Rich In A Niche

Create Your Own Product Line

Create Your Own Product Line

Create Your Own Product Line

Have a unique angle on someone else’s product line

Be An Expert In The Space

Be An Expert In The Space

Be An Expert In The Space

Stay Up To Date But Don’t Chase Fads

YOUR OWN AUCTION SITE

FLASH (TECHNOLOGY) BASED ECOMMERCE

VIRTUAL REALITY MALLS (SECOND LIFE)

FACEBOOK STORES

GROUP BUYING (GROUPON TOO)

FLASH SALES (NOT THE TECHNOLOGY) SITES

In the last 15 months, Fab laid off 565 employees,

dropping from 750 to 185 employees. Selling

products online is a “hard business to be in,”

Goldberg said.

At its worst point, Fab was burning through $14

million a month, Goldberg revealed, and was forced

to layoff hundreds of people. “It was an excruciating

year,” Goldberg said.

Focus On Knowing Your Customers

WHO ARE THEY

HOW OLD ARE THEY

WHERE DO THEY LIVE

HOW DID THEY FIND YOU

WHAT COULD YOU DO TO SERVE THEM BETTER

BUILD A COMMUNITY AROUND YOUR CUSTOMERS

LEAD WITH YOUR UNIQUENESS

Thank You@RickMiva

rwilson@miva.comwww.miva.com