Advice for hardware startups from GrabCAD
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It’s important to share your story with others. I do this as often as I can. GrabCAD has taught me many lessons, which I recently shared with hardware startups looking for founder advice at Bolt in Boston. This slideshow takes you through our early stages and gives you important lessons learned.
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Advice for hardware startups from GrabCAD
- 1. Hardi Meybaum, CEO! founders @ grabcad.com @grabcad GrabCAD story aka “how to make people like you”! Hardi Meybaum! hardi@grabcad.com twitter: @hardi_meybaum
- 2. ! ! Mission: all the worlds’ physical products will be designed and built on GrabCAD
- 3. 2010
- 4. Today 24 million downloads for CAD models 1.1M! Engineers 500.000! CAD Projects
- 5. !"!!!! !200,000!! !400,000!! !600,000!! !800,000!! !1,000,000!! !1,200,000!! Q2! 2011! Q3! 2011! Q4! 2011! Q1! 2012! Q2! 2012! Q3! 2012! Q4! 2012! Q1! 2013! Q2! 2013! Q3! 2013! Q4! 2013! Engineers! 0 10,000 100,000 1,000,000 Journey to 1M users
- 7. 2010
- 8. 2010 - The first order Lesson learned #1: don’t give up after first failure
- 9. 01/2010 - The first $ order
- 10. 01/2010 - The first $ order Lesson learned #2: celebrate victories - earned $25, ! celebration dinner $60
- 11. 0 - 10,000 “ hustle”
- 12. 02/2010 Quit a day-job, ! week before 1st child was born Lesson learned #3: have a very-very understanding spouse
- 13. 06/2010 Raised a first seed money! to build a CAD Library Lesson learned #4: raising money from Eastern-Europe is painful
- 14. 08/2010 - launched Library Lesson learned #5: launch MVP quickly grabcad.com/library/bobber-bike-1
- 15. Convinced FFF (Friends, Family and Fools) to upload CAD Projects Lesson learned #6: hustle
- 16. 09/2010 - Meet Terry Lesson learned #7: talk to customers grabcad.com/terry.stonehocker
- 17. 10/2010 - moved to Boston Lesson learned #8: everything is not like it appears Lesson learned #9: you are in or out, no middle choice booked this room for 3 months but got that one Lesson learned #10: go where your customers & talent is
- 18. 06/2011 closed Seed Round in US 7 angels Lesson learned #11: don’t take no as an answer
- 19. Who are we?
- 20. 10,000 - 100,000 “ observe and build”
- 21. 01/2012 closed Series A 4M
- 22. Lesson learned #12: observe and build
- 29. Shelby needed input for interior Lesson learned #7: talk to customers
- 31. Valuable Comments “Nice advancements John. This is looking much better. I like the modification that you made to the tube feature across the dash. ! It flows with the lines of the car much better” By Jerod Shelby
- 32. Shelby need input for interior
- 33. “This is crazy, I talk more on GrabCAD than in real life” Lesson learned #13: find power-users and make them happy
- 34. 100,000 - 1,000,000 “ build a business”
- 35. 10/2012 closed Series B 8M Charles River! Ventures
- 36. Lesson learned #7: talk to customers
- 38. Review on mobile
- 39. From collaboration to platform ! ! •“we love GrabCAD so much that we never want to leave” Lesson learned #7: talk to customers
- 41. most important lessons Most important lesson: customer always comes first! grabcad.com/workbench/customers
- 42. Team is everything Second most important lesson:! find people you enjoy working with! ! ! Second most important lesson: find people ! who you can learn from and who! inspire you at difficult times! ! grabcad.com/about
- 44. try out GrabCAD Workbench - www.grabcad.com/workbench
- 45. 1,000,000 - 10,000,000 “ …”