Enter Mingle360, a company with a product streamlining business card exchange and a software platform for centralizing your address book and enabling you to manage your social and professional network. I had a chance to chat with Bradley Blinn, Vice President of Sales and Marketing for Mingle360 to discuss the company and his experiences as a serial entrepreneur. Here is the transcript of that interview:

Steve: So what was the motivation to start Mingle360?
Bradley: Dan Coffing, Lou Bonfiglio and I saw that people needed a better way to exchange and manage their identity (profile) information. We were concerned about a person’s privacy and how information is openly shared amongst networks of personal friends and professional associates (oftentimes with no regard). Upon identifying this need, we developed a solution to this problem and created a business model that targeted specific marketplaces. Tradeshows, conventions, conferences and social events became our top focus. Our business model gained the support of friends and family with a first round raise of approximately $1 million.

Steve: What comprises Mingle360?
Bradley: Our solution is comprised of a physical product (the MingleStick) and a web application (MingleManager):
The MingleStick is a small keychain size device that enables two people to connect with each other with a simple click of a button (see video demonstration). Many people consider the MingleStick to be an ‘electronic business card.’
The MingleManager web application interfaces with the MingleStick. Users plug the MingleStick into their computer and login to the MingleManager website to view the connections they made during the day. MingleManager features an online address book for maintaining and organizing these contacts.

Steve: Where can the MingleStick be used?
Bradley: The MingleStick has applicability in a variety of industries. Our initial focus is tradeshows, conventions, conferences and social events. These environments are perfect for the MingleStick because people are looking to quickly connect with each other. Exchanging business cards can be cumbersome and organizing your cards after an event is time consuming. The worst part (in my opinion) is scanning or typing your cards into a contacts manager program (such as Outlook). The MingleStick solves this problem. Two people connect at an event with a click of a button. At the end of the day, the user plugs their MingleStick into their computer to review all the connections they made during the day. Contacts they want to keep are added to the MingleManager address book. Unwanted contacts can simply be deleted.
The power of the MingleStick is its simplicity! Whether attending social events or business tradeshows, users can connect with 50, 100, 200+ people with the click of a button!

Steve: Are you guys going for a centralized directory like Plaxo with MingleManager?
Bradley: Our business model is similar to popular social networking websites such as Plaxo, LinkedIn, Facebook, MySpace, Bebo etc. but our differentiator is a physical product (the MingleStick) that drives traffic to the website and builds user base. We have created a strong value proposition for companies that want to distribute MingleSticks to their attendees (we are NOT focused on selling MingleSticks to individual consumers). Thus, tradeshows with 1,000 to 100,000 attendees can use our solution to turn one-time events into long lasting online communities.

It is not our vision to be a competitor of Plaxo, MySpace, LinkedIn and Facebook. Instead, we’ve created an open platform and want to partner with these companies and others to accelerate the distribution of MingleSticks. We believe the MingleStick provides great value to these companies in driving significant user base to their web sites.

Companies are looking for a differentiator to drive traffic to their website. The MingleStick is exciting because it’s a physical product and can generate a significant user base with little to no cost. This is why we believe a partnership would be advantageous for these social networking websites and Mingle360. Early adopters of our MingleStick technology will gain a competitive advantage.

Steve: Is this open to everyone to sign up and get a MingleStick?
Bradley: Our focus is not selling MingleSticks to individual consumers. Mingle360 is currently working with tradeshows, conferences and conventions to distribute MingleSticks at their events. All attendees would receive a MingleStick upon registration thus ensuring 100% adoption of our technology at an event.

Steve: This is not your first venture as an entrepreneur. What made this startup compelling that you joined the team?
Bradley: Dan and Lou are passionate, intelligent and visionary thinkers. Together, we created a vision and have embarked on this life journey called entrepreneurism as business partners, friends, and brothers in Christ. Personally, my leap of faith came when I left my 9-5 job to pursue Mingle360 full-time in December 2007. I left a great career because I truly believe in our company, our services, and our vision. I also wanted to pursue an opportunity (and challenge) of a lifetime. Needless to say, I haven’t been let down!

Steve: To close our interview 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?
Bradley: That’s a great question Steve. My “Top 5” would consist of the following:
1. Ensure a strong business plan. Great ideas and concepts without a clear path to ROI and/or profitability will be challenged with raising capital, especially in a depressed market. Additionally, vision without execution is a plan for failure. Identify your market and make aggressive strides in accomplishing your immediate goals.
2. Affiliate with top entrepreneurs within the industry. These individuals will offer free advice, so learn from their mistakes and successes. Apply this knowledge to your business to avoid common pitfalls.
3. Create a strong advisory board. These industry experts won’t cost your company a lot of money and can propel your company forward. Their connections with key industry players can help you find your first paid clients.
4. Recruit a strong base of sweat equity employees. Our company was blessed to find a dozen consultants who work for us on an equity basis. Their contributions are invaluable. Be prepared to continually motivate them with stock options for their continued hard work.
5. Focus on the critical path. Don’t spend money on non-essential initiatives. When hiring a company, ensure you hire a competent firm that can execute and deliver quality work. While it’s important to understand your vision, focus on executing your development in stages to produce results more rapidly. Don’t get bogged down in a long-term development projects.

Steve: How can an event company or other interested party get in touch to learn more?
Bradley: To learn more about Mingle360 and our services, please contact myself or Doug Elliott, our Director of Sales and Marketing:
Bradley Blinn: 703-425-0402 x511 bblinn (at) mingle360.com
Doug Elliott: 703-425-0402 x516 delliott (at) mingle360.com

Mingle360 is also talking with the investment community (angel investors and venture capital firms). Interested parties can contact Dan Coffing, CEO of Mingle360:
Dan Coffing: 703-425 0402 x510 dcofffing (at) mingle360.com