Part 2 – Interview with Chris Hopkinson of DubMeNow
November 25, 2008 :: Steve FisherChris is not a stranger to startups with a few already under his belt. This is why he knows how to recognize a potential hit when he sees one. His new venture, DubMeNow, was founded by Manoj Ramnani earlier this year to solve a growing and elusive problem of mobile business card exchanges.
Sure, you have probably heard of LinkedIn or Plaxo. Granted, those early entrants do business information exchange well in certain aspects, but no one has cracked the mobile puzzle yet. It may seem simple, but then again, simple and elegant are often the hardest to accomplish.
DubMeNow might have finally cracked the code.
So how does it do it? In a great description in the August column in the Washington Post, the concept is this:
“When Bob meets Sarah, he asks her for her cell phone number, e-mail or if she’s a registered “dubber” and adds her to his Dub network using his mobile phone. Once Sarah agrees to become connected through the Dub Me Now service, Bob can access her contact information on his cell phone, on the Web and in any e-mail program like Microsoft Outlook. If Sarah changes her contact information with Dub, the new entry is automatically reflected in Bob’s contact list.”
The firm has developed a software application that sits on a mobile device using Microsoft Windows Mobile or the Blackberry platform and currently is working on a version for the Apple iPhone along with Nokia and Palm mobile devices.
I recently had the opportunity to chat with Chris Hopkinson, Director of Business Development, about their upcoming product launch and his experiences as an entrepreneur. Here is Part 2 of 2 of that interview:
Chris on Entrepreneurship…
Steve: I would like to switch gears a bit and talk about entrepreneurship in general. Since you are a serial entrepreneur and have been through many business cycles, with the economy in a tough spot these days, do you feel it is a good time to start a business?
Chris: Yes, because you need to be resourceful, have a do or die mentality and go against conventional wisdom (i.e. only a crazy person would start a business during a down cycle) to be a successful entrepreneur. Today’s economy will force more people to act that way from the beginning. There’s not another job waiting for you if your business doesn’t work and there’s no money to borrow to get you through, so you start lean, get creative and work like your life depends on it. That’s how great companies are built.
Consumers are also shopping more. They paid less attention to cost, quality and service when things were going great. Now, they’re all bargain hunters and I think that’s a great opportunity for small companies. Same with tech start-ups. Big companies are going to cut back on R&D and other projects that don’t drive revenue, so there are plenty of opportunities for fast moving technology companies to compete and grow.
On a side note, I find it interesting that a lot of funded start-ups are going through significant layoffs. What was the value of these employees before? Why are they suddenly expendable because you might not raise another round or need your current round to last longer? I think some companies were growing for growths sake and that’s over.
Steve: One question I get from people thinking about starting a business is “do I need a business plan”? I tell them that if they are a freelancer and selling their skills, they don’t, but… if they are planning to grow a business that they can’t run without one. What is your philosophy on this type of thing?
Chris: Business plans allow you to write out a path to your goals and put all your thoughts on paper in a coherent, organized way. I think it’s a great learning experience for anyone starting a business and a great way to keep you focused. With that said, I hate writing and reading them. I try to make mine succinct, brief (6-8 pages) and subject to change. The goal should be to simply explain what you’re doing and how you’re going to do it.
Steve: I would like to get a “Top 5” from you. Since we are facing some tough economic times ahead for possibly the next 12-18 months, what are the Top 5 things you would recommend new entrepreneurs running a business should do to weather the storm?
Chris:
1. Start in your basement/garage/home office. If Google can do it, so can you.
2. Network, join a networking group or several and get your name out there. Talk, to and meet other entrepreneurs. You can do a lot of it online with MeetUp, LinkedIn and Facebook groups.
3. Fire overly demanding or difficult clients. Sounds crazy, but bad clients can keep you from really servicing the good ones and drag your business down. A good way to do that is raising your fees. The dead weight will usually either leave or agree and make your time with them more valuable.
4. Look for strategic partners, other people or companies that can drive traffic to you and you to them.
5. Show leadership and confidence. Everyone’s talking about how bad it is, why not be the one who’s talking about what a great opportunity it is. People tend to follow that person because they think you know something they don’t.
Chris on How You can be a part of the DubMeNow revolution…
Steve: As we wrap up the interview and circle back to DubMeNow, you are planning to launch on November 19, 2008. What are you plans? How does someone subscribe or join the beta?
Chris: We’re hosting a huge launch party in Washington, DC on Nov. 19th. You can register and learn more at; http://dubmenow.eventbrite.com/. Everyone who attends will receive an invite to join Dub. You can also email; info@dubmenow.com to receive a Dub invite on Nov. 19th if you can’t make the launch party, simply go to www.dubmenow.com on Nov. 19th and sign-up. We’re expecting over 10,000 users the first day, so it should be an exciting month for us.
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