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Building Blocks
• The experience
• The cost and the risk
• The reward
Prior to presentations show video “Shine”Start presentation with Joe’s video
Good, Bad & Ugly
Our Mission:
Business Management 3.0Tuning up small business - the global economic engine
Our struggle:
Opportunities
Versus
Resource constraints
Th Our TeamCEO
Frank Coker
EVPTony Lael
Dir. MarketingKris Fuehr
Dir. Biz DevScott Juetten
Chief Arch.Torsten Kablitz
Dir. OpsBob Taylor
Senior DevKevin Burkett
Lead TesterJames Shepard
Dev ManagerMegan Flaherty
Senior EngineerShiao Wu Chang
Creative WriterHeather R.
DesignerVeronique H.
Senior Acct. Mgr.
John T.
Technical Analyst
Brian LeBlanc
UI DesignerMatt Willis
UX DesignerJason Levine
DeveloperTrevor Green
Advisors
• Leonard Jessup, Ph.D.Dean of the Business SchoolUniversity of Arizona
• Steve Moore COO, Contour, Inc.
• Bob Pinkerton Partner, Management 3.0 LLC
Founder, Symantry Marketing LLC
• William Maynard, Ph.D.Former CEO and Co-Founder of the Effectiveness InstituteProfessor at WSU
History
• CoreConnex started Jan 2005• Major phases:
– Consulting in IT industry– PSA software product for IT industry– Sold off PSA business (2009)– Financial dashboard product for IT industry– Sales through strategic channel partners– Game changer: Intuit award (2011)– Broadened industry focus
Company Status
• Breakeven as of December 2012• Pumped – we are the Intuit champ!
- scrambling to get ahead of the curve• In the Microsoft spotlight – re: Azure!• Planning 3 city road tour – sponsored!• Moving from 3 vertical markets to 40• Focus on reaching $5m in 2014• Seeking $1m to fund growth
Major Metrics12 month progress
• Registered companies up 89%– From 353 to 666
• Increased strategic partnerships 55%– From 9 to 14 plus added coaches network
• Went from 1 to 18 vertical markets
• In 26 countries
• Company team doubled from 7 to 15
19 Events Since Aug
1. CompTIA Breakaway Conference, Washington DC, August 1-4
2. InfoComm Roundtable,Vancouver, BC, Canada. August 5
3. Intuit Apps Showcase, San Francisco, CA. August 11
4. MSPU Webinar: Software as a Service Profitability, September 7
5. InfoComm Roundtable, Chicago IL, September 20
6. Coaches Breakfast Meetup, Chicago IL, September 21
7. MSPU Webinar: The Top 3 Mistakes, September 29
8. SMB Nation Fall Conference, Las Vegas, NV, September 30
9. InfoComm Webinar: Fostering Profitable Employees, October 4
10.MSPU Boot Camp, Miami, FL, October 5-7
11. Intuit’s Entrepreneur Day, Mountainview, CA, October 6
12.Coaches Breakfast Meetup, San Diego, CA, October 19
13. InfoComm Roundtable, San Diego, CA, October 19 (Frank Coker)
14.Tigerpaw User Conference, Dallas, TX, October 19-21
15.MSPU Webinar, October 25 @ 11am Pacific
16.Sleeter Group Conference, Las Vegas, NV, November 7-9
17.ConnectWise IT Nation Conference, Orlando, FL (Pre-day w/Level Platforms), November 11
18.High 5 Software Community Webinar, December 7
19.Mentor Plus MBA (More Business Acumen), San Jose, CA (for Accountants, QuickBook Pros & Financial Advisors), December 12-13, 2011
Market OpportunityWe’ve scratched the surface. The market is hungry and our customers are satisfied. It’s time to expand!
•6 million targeted businesses in the US (employ at least 1 employee); 30 million global
– Target is 5-50 employee small businesses
•Current partnerships– Microsoft - 1.2 million channel partners
– Intuit - 4.8m customers; 65,000 QuickBooks Pro Advisors
– Existing technology partners & associations; 80,000 addressable members
•The market is ours to take: We need to capture verticals before competitors.
100,000 customers gets us to $100m
Goals & initiatives
$5M or 237/mo new subscriptions in 3 years•700 new leads per month (based on current conversion rates)•Scaling through channel sales•Drip conversion of trials•Channel account management•Self-serve sales
Key Challenges:•Velocity of channel growth•Predictable trial conversion•Capacity to manage our channel & customers
Channel PartnersCoaches NetworkPlatform Integrations
Currently 80,000addressable community
members
6M addressable
370,000 CPA members alone, each estimated to manage 30 customers 11M (not all target customers)
Tech Vendors & Associations
Coach Strategy
• Educate CPAs/Advisors on “Consultative client management” and Annuity Revenue Opportunities The 30 | 300 |1 Plan
• MentorPlus, TruMethods, several community leaders
• Certification & continuing education credits
RELATEEDUCAT
E
MOTIVATING & EASY
DISCIPLINE
Flood the web with “How to Manage 3.0” (CPAs, biz associations, events, training & webinars)
Stream insight w/ “Findings” Influencers, CPAs, Social media
Testimony, invite to Trial1:1 coach consults, 1hr self-setup, drip to remove barriers, easy to start
CommunityBest practicesAdd-ins; Upsell; Services
FASCINATE
(INFOGRAPHICS)
Engaging the Market
“Teach you about the New Normal…”
“What’s happening, how to improve”
“Why it’s right (easy) for you”
“Keep/grow the 30-minute habit
Good at Working on 1. Establishing partnerships
2. Appeal & perception
3. Influencer support
4. Sharing expertise (Professor, CPA, 30-min process, frontline support)
5. Pleasing customers
1. Building interest from partners & influencers
2. Yield from channel partners
3. Web, demo & trial Conversions (SEO)
4. Drip, CRM (simplifying, automating, personalizing)
5. Software development competency
6. Scalable processes
Product Perspective
• Differentiators– Industry relationships; mass customization
for partners– Industry benchmarking process– Standardized view– Built for management – Monthly management and goal tracking
Product Development
Provide an engaging user experience to transform the way business owners manage their companies and see their performance
•Goals– Connect to other data sources and platforms
– Enhance coach/advisor partnerships
– Increase upsell opportunities (PRO $99)
– Support for international growth
Product Development
• Upcoming Initiatives1. Complete platform migration to Azure
2. Build extensions to other accounting systems– MYOB– Tally– SAGE
3. Create ability for coaches, advisors to see performance of client portfolio
4. Update management process UX
5. Enhance benchmarks across multiple industries
Product Development
• Challenges– Development throughput; slow delivery of
new/improved features to market– Enhancing UX– Growing development team
Operations Management Goals• Highly responsive customer service (B+)
• Timely and comprehensive ops reporting (A-)
• Reliable systems infrastructure (B)
• Software development on schedule and on budget (C-)
• Strategic partner projects (A+)
Major Challenges and Solutions• Need more data analytics capacity
• Need more development traction
• Backlog of pending Corelytics enhancements
• Building backlog of “technical debt”