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No.1 mistake: Not having a solid revenue model
Vator’s community is the home to entrepreneurs who embrace their passion and follow their dreams. Our profiles allow members to express themselves by sharing their interests, lessons learned, as well as bits and pieces of their roller-coaster journey.
These profiles give entrepreneurs an opportunity to showcase themselves and tell their story. So if you are an entrepreneur, a serial entrepreneur, or even an aspiring entrepreneur, we'd like to hear from you.
I am a(n):
Companies I've founded or co-founded:
Mobiplex Inc., Wellcore, Veraz Networks, ipverse, Perceptronix
Startups I worked for:
Mobiplex Inc., Wellcore, Veraz Networks, ipVerse, Perceptronix
If you are an entrepreneur, why?
I want to invent something cool.
My favorite startups:
GoPro, Square, LinkedIn
What's most frustrating and rewarding about entrepreneurship/innovation?
The markets change quickly. At some point down the road, you often times find that the market opportunity is not exactly what you expected. Frustrating as that might be, to succeed, you must have the ability to quickly adapt and evolve the business model. The rapid change and the myriad cycles one encounters during a startup's life, is for me, what keeps it exciting and interesting. Any startup will have many opportunities to fall off of the cliff and the biggest reward comes when you can make it work. It's all about the journey and making sure that you have the knowledge and confidence needed to successfully deal with whatever comes your way.
What's the No. 1 mistake entrepreneurs make?
They don't have a solid revenue model. You can have fantastic technology and a terrific team, but if you can't make money, then it doesn't matter.
What are the top three lessons you've learned as an entrepreneur?
Quality of the team matters – many people pick their friends or family for the management team. This can be a huge mistake if they aren't truly the best people to ensure success.
Not being flexible enough, knowing how to adapt. Acquired knowledge is something that one can learn. Fortitude, thinking on ones feet and being creative to develop solutions and deal with the myriad issues that arise.
Don't go to the VC's too early in the game. For many startups, this is the only way to raise initial funding. In my experience however, I've learned that it's better to build the early successes on your own.
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Related Companies, Investors, and Entrepreneurs
Joined Vator on
Mobiplex is a revolutionary venture specializing in mobile and wireless sports performance technology, based on miniature wireless sensors and mobile device apps, that helps athletes improve their skill levels for better enjoyment of the game.
In September 2012, Mobiplex launched its first product, the SwingTIP Golf Swing Analyzer—an innovative Bluetooth-enabled 3D motion sensor device that clips onto a golf club to analyze and capture a golf swing in three dimensions. SwingTIP helps golfers improve their swing by sending real-time visual and performance data to an iPhone, iPod Touch, iPad or Android™ device and MySwingTIP.com.
On October 30, 2012, Mobiplex announced that it has raised $3.1 million in Series A funding from a group of private investors. The investment will accelerate global sales growth and advance product innovation for Mobiplex’s SwingTIP™ product suite.
Mobiplex sells SwingTIP on SwingTIP.com and has sales and distribution partnerships with Amazon, Butler Golf, Dr. Bott, Golf Galaxy, MKRAK Management (in Canada), PlayBetterGolf.com and SmartHome.com with more in the works.
Mobiplex has developed a proprietary ProView™ Motion Analysis™ engine that can accurately capture, analyze and digitally reproduce a sports motion in three dimensions. The company will employ this IP to develop wireless and mobile sports performance technology for all types of Bluetooth app-cessories for various sports - beyond golf.
The Mobiplex founders have a combined 10 patents in biomechanics, wireless technology, motion sensing, technology and pattern recognition.
The Mobiplex management team has a strong track record of building numerous startup companies and business units from inception to major industry successes. The team is well represented in all areas – wireless and mobile technology, manufacturing, sales and marketing, operations and golf.
Joined Vator onI am a serial entrepreneur, engineer and inventor that currently holds nine patents in voice, data, wireless, motion sensing and pattern recognition with others pending.