FringeSport - 3 Years, 3 Million Dollars, 3 Big Mistakes

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Information about FringeSport - 3 Years, 3 Million Dollars, 3 Big Mistakes
Business & Mgmt

Published on February 4, 2014

Author: kellepa

Source: slideshare.net

Description

Peter Keller, founder / CEO of FringeSport talks about the 3 biggest mistakes the FringeSport team made on the road to $3M in sales just 3 years after he founded Fringe in his garage.

Years Million Dollars Big Mistakes

@petekeller icaruspete@gmail

Revenue (000) 3500 3000 2500 2000 Revenue (000) 1500 1000 500 0 2011 2012 2013

• Platform and following • Table selection • (Not) Planning for success

Platform and Following

Do it on your own • Forums • Twitter/instagram/blogs/fb • “Build Authority” • If nothing else, see what drives engagement when you post on fb!

Revenue (000) 3500 3000 2500 2000 Revenue (000) 1500 1000 500 0 2011 2012 2013

16000 14000 12000 10000 8000 Revenue Proj (000) Revenue (000) 6000 4000 2000 0 2011 2012 2013 2014 2015 2016

• Cash conversion cycle • Marketing focus (CLV vs. one-shot) • Profitability

Plan for success • Think beyond “prove the business model” • Understand and anticipate your growth • “There’s always money out there”… but where?

Table selection • “Table selection is the most important decision you can make • It’s okay to switch tables if you discover it’s too hard to win at your table “ Tony Hsieh

VS

You get to pick your table!

Takeaways • Platform and following – Learn the social platforms – Learn to drive engagement – Brand from day 1 • Planning for success – Plan for success – Think about the ramifications of your business model • Table selection – Pick a table where you want to sit! – Look at winners and learn from them

@petekeller icaruspete@gmail FringeSport ProductSimple.net The Mistake Podcast

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