Aug 24, 2015

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Episode 630 min
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Summary

Bryon Western and Jim Lewis of Little Bird Systems talks with us about the internet of things.

The Product

  • Rapid Commercialization System for the Industrial Internet of Things – lego building block approach to building electronics 
  • Difference from other companies : Giving the very quick path from the bench-top prototype to something that they can commercialize and take to market.
  • Internet of Things – trend in industry that connect electronics to any physical object, measure data on such object and perform an action on that object.
  • FOCUS : Industrial Market
  • Bandwidth Discipline – optimize protocol – system that are not highly bandwidth thing 
  • Sale Cycle –  Up to a year from completion of development cycle (which takes about 18 months to 2 years) for them to get back or realize income

The Business Model and How Money is Generated from this product

  • GOAL :  To move people from that bench-top prototype  to a 2nd stage ruggedize prototype (mass produced unit) – provide service to create their customer electronics – sell them the hardware they need to sell their products to customers

(JIM’s Perspective on what they do) 

  • What is the market? 15 Trillion dollar market 
  • Glad to have partners with business intellects

How to startup a company (based on their experience)

  1. Laying plans – what is the market? how to approach the market? what would set you apart from someone else? 
  2. Getting everything in place – operating plans, financial model 
  3. Opportunity to make difference in the world, in the industry you are attacking 

(BRYON’s Perspective on what they do) 

  • Be involved – hire people who can contribute 
  • Entrepreneur Programs could help you operate the business – adding technical knowledge
  • CEO vs employee in the startup : As an employee, you have to deal with every aspect of the business – keeping contacts – inform the people what you are doing and Delegating tasks – trust people that they can also do what you can do 

ADVICE : Creating a company Based on Technology 

  • Get a business person – somebody who have worked with technology – if you explain something to somebody and don’t they get it, it is not their fault it’s your fault – practice the skill of simplifying things and communicating it to people 

What’s the future of Technology-based businesses in Arkansas

  • Prediction: 2020 – 50 billion devices will connect to internet – whereas right now 90% are not connected.
  • What’s right in Arkansas as an area of startup technology companies? 
    • A lot of Manufacturing and Agriculture is going on so the advantage is you can get first hand information from people who needs the solution
  • For Arkansas to grow with technical startup companies/businesses
    • companies must be responsible for specifically defining what is to be done to be a technical startups (e.g. execution of invention assignment agreements) 
    • Research areas must be confined to such specific business that they are in 

Our contact info:

Jeff Amerinejeff@startupjunkieconsulting.comwww.startupjunkieconsulting.com

Jon Cadieuxjon@455mediagroup.comwww.455mediagroup.comwww.bentonvilleworkplace.com

 

 

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