Everlane.com-Startup that will disrupt the clothing market

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I stumbled across an infographic that really made my blood boil. It lays out with full transparency the true manufacturing and retailing costs associated with a high end T-shirt. I felt like I’m a pretty saavy shopper especially when I generally buy at a 20-30%  discount off the retail price. Boy was I wrong and way off base.

On my work commute my mood lightened after listening to the podcast, This week in Startups with Jason Calacanis. I downloaded Episode #253 where Jason echoes my thoughts exactly. He interviews Michael Presyman Co-founder of Everlane. His goal is to change the world of retail in an extremely disruptive manner.

Disruptive innovation, a term of art coined by Clayton Christensen, describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves ‘up market’, eventually displacing established competitors. An innovation that is disruptive allows a whole new population of consumers access to a product or service that was historically only accessible to consumers with a lot of money or a lot of skill.  Characteristics of disruptive businesses, at least in their initial stages, can include:  lower gross margins, smaller target markets, and simpler products and services that may not appear as attractive as existing solutions when compared against traditional performance metrics. Its been done before as in the following examples: Napster (Good bye Tower Records), Netflix (So sorry you failed Hollywood Video). The Most Notable one is in part to Amazon as they have crushed Mom and Pop bookstores, Borders Book, and soon to be Barnes and Noble.

While doing some research on Everlane I found this great article that explains perfectly the business model:

Most of the time (but not always), price in the fashion world is associated with higher quality–your sweater from H&M may look nice, but it probably won’t last as long as one from Barney’s or Banana Republic. And while the recession may have scaled back the number of people who can afford to buy pricey, high-quality clothes, it hasn’t changed the amount of people who still want these items. The evidence: Everlane, a web-only brand that offers designer-quality goods for under $100, already has 100,000 members since launching November 1.

Everlane, which is billing itself as the first major lifestyle brand to be built entirely online, offers “luxury essentials”–T-shirts, ties, bags–at H&M prices. It’s all made possible because Everlane eschews any sort of physical presence; because Everlane sells direct to the consumer and doesn’t have a physical store, it can remove 50% to 75% of traditional retail costs

 Click here for the full entire article written beautifully by Ariel Schwartz Senior Editor at www.fastcoexist.com An Elegant Blog with stunning photos.

About.me-How to tie all your social Networks together in one beautiful page

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http://youtu.be/0TEhtB1sSrI I forgot about this screen cast i did LAST YEAR at this time in May 2011. I was reviewing this Identity Page called http://www.about.me a platform where I could tie all my social networks together in one beautiful landing page. About.me has been quiet since AOL acquired them but I recently read they released a Public API to get every more social! Recently I read their blog posting regarding their Public API, click here to read more about it. But the Tech Crunch version of the story seems a bit more interesting.

There is POWER is Group Buying for Business Owners

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It took me awhile to figure out what Rewardli does. My first impression was they were a daily deal site.  I have signed up for multiple Daily Deals like Yipit, Google Offers, Amazon Local, Groupon. I always get this anxious feeling because I don’t like buying things on impulse. Just to clarify NO Rewardli is not a Daily Deals Site. Daily Deals expire. As a small business owner and business consultant, this is exactly what I am looking for… 

Basically, Rewardli features “always on” deals, where small business owners can visit the site’s marketplace buy what they need, when they need it, and receive cash back on all purchases. Over 70 vendors have signed up to offer cash back rewards, including Staples, FedEx Office, Expedia, GoDaddy, Skype, Travelocity and more.

What the guys from Rewardli have figured out is Small Business Owners are typically a conversative bunch. They will spend money on office supplies, LOGO’s, computer equipment, things they need but only when they when they are ready.

The purchaser clicks on the deal, which is anywhere from 2 to 50 percent off, and will be led to the landing page of the vendor, but will include a checkout code when the business makes the purchase. For example, a businesses could receive a $10 cash back bonus when making travel plans via Priceline.

Clearly, Rewardli.com has positioned themselves in front of the social graph. With the recent IPO of Linkedin and big sweeping changes within Facebook. They are sure to develop a huge user base. There was no way something like this would be able to happen ten years ago. Social Media has made it possible to scale very very quickly. It would take hundreds of sales reps on the street talking to small business owners as well as dozen of business development guys to land the sweet discounts with big time vendors in the 90′s. But because social networks are hugely popular, they will win.

HOW DO I GET NOTIFIED OF A DEAL?

Rewardli also offers a browser extension that automatically lets you know if you’re on a site that the startup offrs ea deal. I tested the chrome browser extension and it works beautifully. Below is a quick version video.

HOW DID I FIND OUT ABOUT THEM?

I first saw George Favvas and Jean-Sebastien Boulanger on a Ustream San Franscisco Tech crunch Disrupt in September of 2011. I knew they would be a great start up to follow. FUN FACT: Did you know these guys are from Montreal Quebec, Canada?

It looks like Super Angel Dave McClure found Rewardli.com first back in January of 2011 and drops 100K to get them going thru 500 startups program. Good news travels fast as Liz Gannes of Allthingsdigital reports on Rewardli and ten other start up hopefuls in February 2011.

Afte launching at Tech Crunch SF nine months later. They were polished, clear and executed their value proposition perfectly. From what I gather they got offers on the spot!

Real Ventures, Kima Ventures and a few others. Kima Ventures also backs another one of my Tech Crunch SF favorites Cakehealth.com which I will write about in a few weeks. You can follow Rewardli on twitter at @rewardli

I am looking to build my rewardli buying group so leave a comment below so I can contact you!

SOURCES:

http://www.crunchbase.com/company/rewardli

http://allthingsd.com/20110210/500-startups-unveils-start-up-accelerator-program/

http://venturebeat.com/2011/04/06/500-startups-demo-day/

PICTURES:

From Google Images, and Techcrunch.com

I need an updated resume, something that really pops like Resumonk!

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This knowledge worker needs something hip. Something cool that will get the attention of these moron HR Directors who can’t see my true talents that are hidden behind my horrible resume writing abilities. I didn’t bust my ass working my way through college and getting my teeth kicked in the business world; only to stare blankly at a computer screen. As I ponder and wonder what phrase will grab their attention more “Strong Work Ethic” versus “Proficient in Excel and Word.” My A.D.D. shifts…..

Man, Chrome sure is cool today. Open new tab. Maybe I’ll feel more productive with my other job role, early adopter and start up advocate. Let’s see what new startups are on Betapunch. Oh here we go, a Job application organizer Startup and a Resume Builder. I came across Jobmango and Resumonk. I did screen casts on both of them on my youtube channel but Let’s discuss Resumonk today.

My recommendations were to:

1. Use Linkedin.com API to reduce data entry into resume fields. (See PRO version)

2. Possible crowd-sourced function where the crowd to comment with feedback about the resume and job descriptions and job keyword selections.

3. Suggestion box to help job seeker come up with a different way of stating their job skills rather than the usual “Team Player” or “Goal Oriented” phrases.

4. Do NOT use Facebook connect, use Linkedin to log in. Totally Different crowds here.

However it was only after I spent a few hours in the software learning it and working with it I discovered some of the kinks. There landing page value proposition states “Create beautiful and professional resumes in minutes!” At the time of my review I suggested that they add a feature that draws from Linkedin that could import the heavy data entry. Later I realized that feature was already thought of  in the PRO version.  I thought the price point was good at $9.99 so I went ahead and purchased the PRO version to test it. Yes, it was true I was able to create a resume pretty damn quick. Then I realized My Time to Pivot Project is not really a job its more of a part time laboratory in blogging, beta testing, and social media experiments. I needed something where I could tailor it more specifically.

Then I came up with a few more ideas to improve:

5. Add a page break line so you where your past job experience hits the bottom of page 1 and rolls over onto page 2. It will save time re-editing your final  PDF versions.

6. Crowd share some of the PRO resume designs with other designers, do a revenue or contest share like 99 designs.

7. Add matching cover letters, This will really make you stand out, (He says he is working on this adding feature as it is often requested)

8. Ability to change some font sizes (He already fixed this, WOW!!)

9. Add clone resume feature (He already did this one too!)

10. Add drag and drop feature

11. Maybe joint venture with Branch Out.

12. Add PREMIUM Product which is a monthly membership. Something insanely inexpensive that a kid just out of college or underemployed worker could afford. you should Have Libraries of video tutorial of interview tips, resume writing, and testimonials.

13. Best of all a 30 second video intro that job seekers can do that’s embedded on the resume itself. The PRO version does have some analytics. You could technically A/B test which intro video was seen the most and held the attention of the viewer. He could further monetize and brand Resumonk by having small logo or name on the video itself. The video could also be a montage for designers to show off their portfolio chops as well.

Resumonk is the brain child of college student Bharani M.    He immediately acted and made improvements based on my early adopter feedback WOW! One of feature requests he is working on is the “One-click apply” A serious pain point most job seekers are feeling. Please Help this brilliant young man out by adding some comments below and test his product today!

 

Why Early Adopters should stop by this blog

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Are you that guy or gal always seeking a better way of doing things? Are you that tech head reviewing the latest industry software and think you could make your workplace a better place. If so, you will appreciate stopping by this blog. You see, I consider myself to be an early adopter and I like to test new things. My goal is to introduce you to different applications or software that will either make your work life more efficient or your personal life a little more delightful.

This week I did two new screen cast reviews. One on Simpletix a startup shows you why their company is the best way to sell tickers online. Click here They help event organizers get things done!

The second screen cast review is on Smatchup. A fantastic way for young startup entrepreneurs to connect with Professional business executives to help mentor them.

I also updated the Emerging Marketplaces sections with a deeper, longer article on Thumbtack, a community marketplace that brings local business service providers and consumers.in a trusted vetted way. If you have ever dialed dozens of service providers from the yellow pages or tried Craigslist you will appreciate Thumbtack. Click Here to go right to it.

Invoice ASAP- Its not just about Billing Invoices

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InvoiceASAP.com is a Cloud Based Order Management Systems

Founder Paul Hoeper debuts his in the cloud Order Management System (OMS) InvoiceASAP at Tech Crunch’s June 2011 Battlefield Presentation. Many New Orleans startups participated in the contest but InvoiceASAP stood out above the rest. Paul explains him multiple years in business development gave his insight to a growing problem. The need for mobile invoicing and integration into multiple different accounting softwares.

As you may know, I am fond of products that integrate nicely together. His product is amazing as it fluently creates a web invoice or estimate that can be delivered at the point of sale. This Iphone or Ipad application is perfect for any contractor listed on Angieslist. Some examples would include electrician, lawncare service, repairman, sales professional out in the field inspecting the job that are to fix. Properly documenting with a picture and adding a audio description of the repairs needed are extra features of this handy application.

Imagine this type of scenario as it happens more often than you think. Contractor meets homeowner or contact at the proposed repair site. A conversation occurs and photos are taken of lets say “A tree stump to be removed” Contractor pulls out his Ipad and quickly creates an invoice and a audio description is added. He verbally commands “Tree stump removal at the following address for the following clients name.” A 30-day due is emailed to the client. Now here is where it gets interesting.

Should the homeowner or contact person elect not to pay, the contractor has audio, before and after photographs, and invoice all documenting that the work has been completed. This should make a small claims court relatively easy if the dispute is not handled in mediation or before. The obvious after effects would be lower collections costs to the business owner.

http://www.youtube.com/embed/aRcmWdOfiso

Accounting seems to be every business owners weakness. Here’s where InvoiceASAP really shines. Paul Hoeper has done business development deals with multiple partners so his software will integrates and connect thee invoices with accounting softwares like quickbooks, soho and quickbooks online and Xero. As more developers create google app accounting softwares with open API (Application Programing Interfaces) InvoiceASAP could be there as a additional feature.

Consumers need to be sold on benefits of mobile payments.

Mobile payments has finally arrived! Invoice ASAP is not alone in the mobile payment and mobile invoicing niche. There is a made rush of companies wanting to grab positions in the space. InvoiceASAP faces competition from the likes of Square, Card.io, and Google Wallet to name a few. As adoption rates climb it will be critical they that business development, sales professionals and contractors who are using these types of technology eduction their clients and consumers on the security aspects of how their credit and debit cards are being processed thru mobile payments. Here is a great gigaom article that talks about mobile payments.

What does the future hold?

I look forward to following InvoiceASAP and their future business development partnerships as they appear to be one to watch in the mobile payment and mobile invoicing space.

Sarah Perez formerly of Readwriteweb wrote an interesting article. Sarah currently writes for Tech Crunch, both are valuable resources for the Time to Pivot blog.

SOURCES: PORTLAND BEST TECH BLOG “READWRITEWEB”

TECH CRUNCH

INVOICE ASAP PRESS RELEASES

If you love tech and startups take a look at this!

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Welcome to the Time to Pivot Blog. If you love tech start ups as much as I do you have come to the right place.. I have a ton of different interests ranging from the bootstrapped solo entrepreneur carving out a small niche to venture backed start ups looking to change the world. I may from time to time do product reviews to introduce you products and services I find valuable. I also enjoy beta testing new products and sharing my insights on screen casts. The goal of this blog is to educate, delight and share with you what I find interesting and groundbreaking in the start up space. Take a look around and enjoy!

I am almost done moving my content from Posterous.com as they have been recently acquired by Twitter. Here is the link so you can enjoy previous posts.

Thanks for your patience.

JB

 

 

 

Personally, it was Time for Me to Pivot

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It’s first blog post.

I don’t quite have the business model figured out yet. After three long years I am closing my first startup yet the crazy in me says, Keep going and start another one. Discover who your new vertical market will be and keep learning.

A few months ago I began my research. I was trying to figure out why my first startup crashed and burned. I stumbled across a fantastic white paper called The Start Up Genome” by Max Marmer. I didn’t quite fit the category but it put me in the right direction.

I came across more revelations with a blog post by Jason Coen of A Smart Bear. Jason gave a great counter point to the Start Up Genome Report by examining the solopreneur life style.

This lead me to a great podcast series by Rob Walling called Startups for the Rest of Us. It’s funny how life just takes you down a certain path of discovery. I would fall more into this type of business person, the solopreneuer.

This lead me to the blog writings of Eric Ries, The Lean Startup and Steve Blank author of the Four Steps To Epiphany fame. Here is one particular Forbes article I found that inspired my Time to Pivot Theme. In order to survive and thrive a startup needs to make changes But I kept asking myself “What type of changes?” What could I have done differently? After reading the following, My eyes were open from that point on.

Pivots come in many different flavors, each designed to test the viability of a different hypothesis about the product, business model, and engine of growth. I agree with Eric’s summary of the top ten types of pivots to consider:

  1. Zoom-in pivot. In this case, what previously was considered a single feature in a product becomes the whole product. This highlights the value of “focus” and “minimum viable product” (MVP), delivered quickly and efficiently.
  2. Zoom-out pivot. In the reverse situation, sometimes a single feature is insufficient to support a customer set. In this type of pivot, what was considered the whole product becomes a single feature of a much larger product.
  3. Customer segment pivot. Your product may attract real customers, but not the ones in the original vision. In other words, it solves a real problem, but needs to be positioned for a more appreciative segment, and optimized for that segment.
  4. Customer need pivot. Early customer feedback indicates that the problem solved is not very important, or money isn’t available to buy. This requires repositioning, or a completely new product, to find a problem worth solving.
  5. Platform pivot. This refers to a change from an application to a platform, or vice versa. Many founders envision their solution as a platform for future products, but don’t have a single killer application just yet. Most customers buy solutions, not platforms.
  6. Business architecture pivot. Geoffrey Moore, many years ago, observed that there are two major business architectures: high margin, low volume (complex systems model), or low margin, high volume (volume operations model). You can’t do both at the same time.
  7. Value capture pivot. This refers to the monetization or revenue model. Changes to the way a startup captures value can have far-reaching consequences for business, product, and marketing strategies. The “free” model doesn’t capture much value.
  8. Engine of growth pivot. Most startups these days use one of three primary growth engines: the viral, sticky, and paid growth models. Picking the right model can dramatically affect the speed and profitability of growth.
  9. Channel pivot. In sales terminology, the mechanism by which a company delivers it product to customers is called the sales channel or distribution channel. Channel pivots usually require unique pricing, feature, and competitive positioning adjustments.
  10. Technology pivot. Sometimes a startup discovers a way to achieve the same solution by using a completely different technology. This is most relevant if the new technology can provide superior price and/or performance to improve competitive posture.

SOURCE: Forbes.com

The questions are now turned on you. Let’s hear your story. What types of Pivots did you face while learning your product market fit? When did you determine it was Time to Pivot? I want your story.

I’m completely and utterly hooked on Startup Blogs, Podcasts, Interviews and Stories! The Goal of this blog is to learn and promote Interesting Young Startups and their technology. If you have enjoyed this blog show so love and Like my facebook so I can reserve that domain, It would be much appreciated.

http://www.facebook.com/timetopivot