Current thoughts: Growing Keno.Tech

I do try to be consistent here but sometimes it is hard. I just want to share what I have been working on and THINKING about. Honestly I could not sleep ’cause my mind kept going ‘write the post, you will forget…”

Building a sustainable company is of importance to me. That is one of the reasons I am focused on building a solid foundation for the business. I do understand everything takes time and I am fine with the process. For me it is essential to be patient, learn the ropes, and grow at a steady pace.

With Keno.Tech, the goal is to build apps to make life simple for the users and solve problems that I have identified in my environment.

I have been doing a lot of research (videos, articles, books) online and reading tweets from people that I admire just to get an idea of how the tech/business world works.

With these tech competitions or funding programs, they have a list of requirements and I decided to take notes. It helped me to understand what investors want and core business strategies I have not addressed.

And if you are working on your tech company or another business, take a look at these and see if it is useful.

My Growth Fund (S.A.)

There are 55 questions in the form. Going through it, I took notes of everything, asking myself questions and highlighting the ones I could not answer or my response did not make sense. 

*Not numbered accurately, red text may include clown talk. Please ignore…

  1. What does the company do?¬†What does Keno.Tech do? (answer seems shaky. Need to polish this)…
  2. What is unique about the company? 
  3. What big problem does it solve?
  4. How big is the market opportunity? 
  5. Where are your headquarters? My bedroom 
  6. What is the size of the company in the next 5years? (projected)
  7. What is the actual addressable market?
  8. How did you arrive at the sales of your industry and its growth rate?
  9. Why does your company have high growth potential?

      TEAM

  1. Who are the founders and key team members?¬†Founder == Enakeno, TEAM == well…
  2. What key additions to the team are needed in the short term?
  3. Why is the team uniquely capable to execute the company’s business plan?
  4. How many employees do you have?¬†Me, Myself and I (3)… yeah and Richard so 4.
  5. What motivates the founders? 
  6. How do you plan to scale the team in the next 12 months?

¬† ¬† ¬† *TEAM has to be SOLID… I cannot use sentiments to pick them*

     PRODUCT

  1. Why do users care about your product or service? 
  2. What are the major product milestones?
  3. What are the key differentiated features of your product or service?
  4. What have you learned from early versions of the product or service?
  5. What are the two or three key features you plan to add in the next quarter?

    COMPETITION

  1. Who are the company’s competitors? *please note, there is no such thing as a business without competitors* 
  2. What gives your company a competitive advantage?
  3. What advantages does your competition have over you? They have money
  4. Compared to your competition, how do you compete with respect to price, features, and performance?
  5. What are the industry barriers to entry?

      MARKET AND CUSTOMER ACQUISITION 

  1. How does the company market or plan to market its products or services?
  2. What is the company’s PR strategy?
  3. What is the company’s social media strategy?
  4. What is the cost of a customer acquisition (CAC)?
  5. What is the projected lifetime value (LTV) of a customer?
  6. What advertising will you be doing?
  7. What is the typical sales cycle between initial customer contact & closing of a sale?

    INVESTMENT RISK

  1. What do you see are the principal risks to the business?
  2. What legal risks do you have?
  3. Do you have any regulatory risks?¬†Sarai…hummm
  4. Are there any product liability risks?

   EXIT STRATEGY

  1. What is the likely exit strategy?
  2. When do you see the exit happening?
  3. Who will be the likely acquirers?
  4. How will valuation of an exit be determined given market comparables?

     IP

  1. What key intellectual property does the company have (patents, patents pending, copyrights, trade secrets, trademarks, domain names)?
  2. What comfort do you have that the company’s intellectual property does not violate the rights of a third party?
  3. How was the company’s intellectual property developed?
  4. Would any prior employers of a team member have a potential claim to the company’s intellectual property? Hummmmmmm

     NUMBERS

  1. What are the company’s three-year projections?
  2. What are the key assumptions underlying your projections
  3. What future equity or debt financing will be necessary?
  4. When will the company get to profitability?
  5. How much burn will occur until the company gets to profitability?
  6. What are the factors that limit faster growth?
  7. What are the key financial metrics that the management team focuses on?

SLINGSHOT 2020

10-slides PDF presentation, addressing:

  1. Problem/solution
  2. Market and total addressable market (TAM)
  3. Value proposition and positioning
  4. Go-to-market strategy
  5. The business/revenue model
  6. Traction: KPI metrics & milestones
  7. Forecast 2020/2021
  8. Team Presentation

ACCESS BANK: WOMENPRENEUR

Key questions on the application form:

  1. Unique Selling Point (What is special about your business? What problem does it solve?)
  2. Elevator Pitch (Sell your business to an investor in 1 minute)
  3. What plans do you have for your business in the next year

Current Activities

Right now I am improving on the features on Sarai-App. I am contemplating if I should build a custom web app for Rodo-Destinations or use a premium WordPress theme and work on the app as we progress. It is funny ’cause I have been saying “maybe I should build a custom app for Rodo since last year but it will take time…” If I had just sat down and stopped worrying, it would be complete by now. I am also studying similar tech products relating to Sarai (Maternity) and Rodo (Tourism and Travel). I have outlined several competitions, their technology stack, revenue models, business strategies, their method of advertisement, team (skills, expertise, industry), etc.

I will give insights and feedback on my notes and what I have learnt so far in a couple of weeks…or months…Until then, stay safe!

Sarai: Project Update 1

It’s been months since I uploaded Sarai. I have not made any major updates to the app. I guess I am overwhelmed by events but that is not an excuse.

Maybe I need to stop beating myself up cause I already do too much for one person (frontend, backend, graphics…whew!)

Task lists includes: posting articles (sarai guides), design posters and reach out to doctors, nurses and midwives.

That aside, frontend needs major updates (social media links should be added to profiles). … Yeah and user sign up ūüôā

Honestly I appreciate my journey more. My mistakes, tears and failures have built my character. In the past I would feel sad that things are not moving the way I planned but now I know better.

If you are reading this, please check out the web app: saraiapp.com and if you know any doctor, nurse or midwife, please refer them to the forms here. Thank you

Featured Image by bongkarn thanyakij from Pexels