Yu-kai Chou talks about lean startups.

1. Social CRM for Local Commerce
Yukai@RewardMe.com

2. TEAM BACKGROUND
The team met at UCLA and has worked in startups
together for 4 years.
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3. TEAM BACKGROUND
Notable Startups include Onebox (sold $850M),
Verdisoft (sold $93M), SEVEN Networks, Caustic
Graphics (sold $27M), and Bunchball
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4. Team Background
Our core strength lies in eCommerce, Social Media
and Gamification; we have spoken or led campaigns
for many brands and universities.
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5. RewardMe In Store
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6. How CRMs SHOULD Work
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior in Real-time
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

7. How CRMs SHOULD Work
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior in Real-time
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

8. How CRMs SHOULD Work
Better Loyalty Engagement
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior in Real-time
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

9. How CRMs SHOULD Work
Better Loyalty Engagement
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

10. How CRMs SHOULD Work
Better Business Intelligence
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

11. How CRMs SHOULD Work
Better Business Intelligence
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior in Real-time
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

12. How CRMs SHOULD Work
Better Customer Relationship
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior in Real-time
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

13. How CRMs SHOULD Work
Real-time Intelligent CRM
1. Capture customer data 2. Intelligently segment 3. Influence customer
at POS with Loyalty customer preferences behavior in Real-time
info@rewardme.com | (888) 255-2512 | www.RewardMe.com

14. "While there are many loyalty products in the market, RewardMe
innovates towards delivering great value by empowering businesses
with deep and actionable knowledge of their customers in realtime."
-HP Jin, CEO of TeleNav (NASDAQ: TNAV)

15. Traction
Evaluation
Negotiations
(VP+ Level)
Pilot
Full Rollout
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16. The Other Side
• 4 Years of Struggling
• No income
• 80+ hour weeks
• Doubted by peers and family
• Failure after failure - economic
conditions and team morale
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17. The Startup Journey
• FDWorld ->
• FDCareer ->
• Viralogy: Social Media Ranking ->
• Viralogy: Recommendation Engine ->
• RewardMe: QR Code Loyalty ->
• RewardMe: Social CRM :D
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18. Key Lessons

19. 1. Stay Lean
• Founder Salary???
• Recruit with Passion
• Have a Technical Co-founder
• Be resourceful
• Work-Work Balance
• Utilize social media
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20. 2. Pivot Fast
• Launch fast
• Validate faster
• Customer development
• Flashlight vs Laser
• No time to mope - move on
• Keep team morale together
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21. 3. Raise Money
• 3 Fs: Friends, Family, and Fools
• Seed Round: Angel Investors
• VC Round: Requires Traction
• Keep everyone regularly updated
• Play the Game - eliminate neediness
• Regional Differences
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22. 4. Financial Projections
• Don’t waste too much time on it
• Focus on Target Addressable Market
• Use bottom-up calculations
• Have a clean assumption sheet
• Start moderate, end aggressive
• Don’t waste too much time on it
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23. 5. Competition
• Endorse your competitors as your
best teachers
• Competitors don’t kill startups
• Indifferent customers do
• Laziness is your enemy
• Competitors can teach you how to
eliminate customer laziness
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24. 6. Stay Focused
• Flashlight vs Laser
• Pick a niche
• Limited resources
• Focus product
• Focus marketing
• Let go of distractions
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25. Thank You
Yu-kai Chou
714.273.7088
Yukai@RewardMe.com
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