Advertising On Top Of the World

What if you wanted to Advertise On Top of a Mountain? How would you do it? Hmmm

The TapInko family members Eduardo Sanchez and Yuri Castano took TapInko with them as they overcame whiteout conditions and conquered Mt. Iztaccihuatl, Mexico's third tallest mountain (17,100ft). Congrats Guys!

TapInko...Advertising Everywhere... Here!

TapInko - Phillypreneur

A big thank you to David Speers from Phillypreneurs.com. This video was shot several weeks ago while the team was in residence at DreamIT Ventures in University City, Philadelphia.  You can see the article by clicking here.  It's amazing how refined the pitch has become since the taping of this interview.  One of the subtle perks of living a start-up is watching the evolution of the business model!

Funding Day

An amazing experience. More details to come...

Presentation Pict.

What is 1%?

“Your company may voluntarily contribute an additional 1% of the common stock of your company to be placed in a pool that will be shared equally among participating DreamIt’08 companies. You are not required to participate in this pool.”

DreamIt Ventures Offer Letter
Spring 2008

For the past several weeks, my company has been posed with the question of whether or not to include 1% of TapInko's equity into the above-described DreamIt 1% Pool. From our understanding, this unique opportunity is a perk that differentiates DreamIt from other incubators. There are two sides to this debate; here is what we are thinking:

Pros

‘Loose fit insurance policy’ – This is the most obvious reason for our inclusion; if we fail we would not necessarily be a complete failure as long as at least one other team included in the pool makes it.

Series B Stock – The stock contributed to the pool is passive and would not come with special privileges. Without any voting rights, the other teams would be simply passive percentage stock holders.

The Cheer Factor – By each contributing a percentage point, we would increase each other’s vested interest in seeing success.

The "Mindshare Effect" - If every company had a stake in every other company, it would encourage collaboration and mindshare amongst the companies in the Science Center. If my idea for Sleep.FM, for example, might get them another client or change their interface for the better, I have a stronger impulsion to let Ryan know.

Cons

Easier Said – Being in law school has led me to realize about the importance of de-risking. The situations that can exist if each team contributes to a common pool can become real sticky real fast. We would want to make sure that if one team has an issue, the intertwined nature won’t cause an issue for everyone.

Investors - Venture Capitalist might see this as a More Owner = More Problems situation.

Amount - 1% might not seem like a lot but… what is 1% of Google? Aol? Yahoo? What is the real value of 1% of our company? What else could that 1% be used for?

Total Return Vagarity - Let's say that, for example, Vuzit makes $10 million in the sale fo their business. 1% of $10 million is $100,000. This $100,000 goes into the 1% pool. Divide the $100,000 over the hypothetical 10 teams that entered themselves in the pool. $10,000 would go to each team. Pursuant to the email from Mike Levinson, each founder of the companies would get an equal share of their company's participation. Therefore, each founder would get $3,333 from Vuzit's $10,000,000 sale...Before taxes.

Our Final Decision:

After much debate, the TapInko team has decided to contribute 1% to the common equity pool. If something is in your venture's best interest, think about it, analyze it, and go for it if it sounds good. We faced a similar situation when the opportunity to join DreamIt was for the taking and we had to ‘give to get.’ In this case, this opportunity is just to cool for us to pass on. We have learned so much from DreamIt and we want to get as much from this opportunity as will be allowed.

Besides, we kinda like what a lot of the other teams are doing!

What would you do?

"Know People"

Know People

One of the founders of DreamIt commented about the importance of ‘Knowing People.’ He stated: “Before you critique someone, walk a mile in their shoes…besides, by the end, you're a mile away…. and you have their shoes.” Though the final statement was made in jest, I am a firm believer that ANY team can increase their chances of becoming successful by having at least one individual with the ability to Know People.

When I use the term Know People, I do not necessarily mean the number of individuals you call ‘Friend’ on FaceBook.

In order to Know People, you have to be able to understand and relate with individuals not like yourself; literally, put yourself in their shoes. Ask the questions: What are they actually thinking and feeling?

Though this is a hard quality to master, people who can comfortably relate with others in this fashion, can come off as more respectful, observant, and comfortable.

Even if they are not the most intelligent of individuals, the innate talent of Knowing People is extremely valuable. People who Know People can comfortably sell, present, and give insight to situations.

How to “Know People”

Knowing People is something one learns by being exposed to different environments, being aware of foreign practices, and having an inherently social personality. Judging body language is also a critical component of knowing people.

Being able to Know People is probably 25% genetic. But inherently, you are not born with a strong ability to Know People. However, many individuals are predisposed to Know People based on their upbringings and personality types.

When Identifying one who Knows People it might not be best to look to the number of friends in their FaceBook profile; a better place to look is the diversity of friends from separate networks.

What to do with an employee who Knows People?

Though to him it is not necessarily thinking outside the box, this individual has the ability to see connections and possibilities where many do not. They possess the ability to market outside the scope of those they surround themselves with.

They can adapt to any situation like a chameleon adapts its color. They can relate to individuals, and this ability increases trust, which makes them incredible salespeople.

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People who Know People Can Be:

The Dude who sees people as potential new friends as opposed to random strangers

The Dude who has a reasonable temper, patience, and an upbeat personality.

The Dude who can say “hi” to an inanimate object.

The Dude who effortlessly makes strangers smile on a daily basis

The Dude who has no limits

The Dude who can adapt to any situation or individual and make those from all walks of life comfortable in their presence.

The Dude who is not threatening

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Conclusion

Everyone has heard the statement “every action has a reaction;” those who Know People have a better understanding of what the outcomes of certain situations will be and can give insight into how a situation has/will play out.