Fight Night – GBU 5

Hi there,

Thank’s everyone for your ongoing support and feedback this past week!

Overview

Massive shout out to Rory from vidapp.com for an awesome time at UFC Fight Night 110, Auckland. Funk Roberts an MMA trainer that follows the fighters in preparation for competitions, also happens to be a Vidapp client and managed to hook Rory up with a handful of tickets (in amazing seats I might add). First ever UFC event I’ve been too and I can’t rate the atmosphere enough. At times during the fight, the crowd was eerily quiet – you could even hear the fighters coaches at times barking instructions and adjustments. Already looking forward to their next event down under!

Moving along, we’ve managed to get some great feedback from Baygold on the topics I covered about Acuris’ value proposition, and after having a brief chat with Clinton (Flux Acceleration Manager) it seems we are on the right track. Following Clint’s helpful advice, I’ve arranged a time on Friday for an in-person catchup with the Baygold management team to delve deeper into their business’s core problems, what solution we can provide and more importantly the benefits they can gain – as soon as we understand those three points we are ready to move onto planning our companies roadmap followed by our capital raising strategy.

Late in the week I also received an unexpected email from Richardo Remote Data Systems. From what I can tell, they’re a cloud-based software as a service company that provide the horticulture industry with productivity and management applications. To provide their service they need data points which they’re currently sourcing from weather stations and manual user entry – it seem’s they’re particularly interested in our automated approach to gathering data. We’ll be meeting them on Friday afternoon before our catch up with Baygold seeing as we’re all the way down there anyway. It’s a strategic avenue I’m keen on exploring.

Good

  • Met up with old family friends and caught the Crusaders v British & Irish Lions game on TV
  • Watching 5 finishes from 6 fights

Bad

  • Spending too much money on food (Need to start using Jude to track expenses)
  • With only 3 weeks until Demo Day – the workload at Flux is starting to steadily pick up

Ugly

  • Getting destroyed in table tennis

Pics of the week

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As always, appreciate your thoughts, comments & ideas!

Cheers,
Nick

Kiwi in motion – GBU 4

Hi there,

Thanks to everyone for your ongoing support and feedback this past week!

Overview

With harvest season in the process of wrapping up, I’ve managed to finally get hold of some kiwifruit growers. My goal is that we begin the fundraising process within the next 2 months and with this in mind, I need to begin to gather all the information necessary to de-risk the company and better position ourselves for investment.

The basis of a strong pitch is a strong value proposition — as convincing investors will hinge heavily on how we answer the questions: “what value does this system bring to growers? / why will growers pay for this system?”. We need to convey our quantifiable value — in order to do this we need numbers and assisting us on this is Baygold, who have generously allowed us access to their businesses numbers and reports. What I’ve been focusing on this week is preparing the questions necessary to get a detailed picture of not only where we provide value but also how much value we bring to growers. The quality of these questions will be key to the quality of the answers I get back.

Here are my current assumptions:

Value proposition:

By optimising kiwifruit growing processes and management, our system will reduce cost and enhance the revenue of kiwifruit growing businesses. (note: the scope of our value extends to the business as a whole and is not limited to just the growing process)

The value-drivers we believe our system will provide:

  • Gains in profitability (superior fruit optimisation will enable growers to maximise their Taste Zespri Grade (TZG) — ultimately increasing their taste payments)
  • Gains in productivity (our system will enable the maximisation of efficiency and effectiveness of growing and business processes)
  • Salary or compensation savings (automated system will substitute human labour)
  • Future proof (technology can be retrained or upgraded, does not retire and is scalable when expansion occurs)
  • Piece of mind (constant fruit monitoring ensures issues in fruit and leaf health are detected early. Additionally, accurate fruit information allows accurate analytics of fruit growth, health and yield — No nasty surprises come harvest/post-harvest.)

Eager to hear what growers think is both valid and invalid about my assumptions — which in turn, will allow me to begin the iteration process. Until then it’s a waiting game.

Ask

  • Nothing to ask for this week

Good

  • Refocused on Acuris Systems
  • Hearing back from kiwifruit growers
  • Electric skateboard motors arrived in time
  • Matt made it to France safely
  • Fibre internet finally available at our location

Bad

  • Quiet and lonely house after work with Matt now overseas
  • Spending too much money on food

Ugly

  • Matt didn’t take the batteries out of the electric skateboard, which resulted in the board being taken off the plane… Huge nightmare to sort out — in the end, we were able to get a friend who luckily was also travelling to France to take the board with him

Next Steps

  • Form pitch and investor hitlist

Pic of the week/s

No new pics this week so we’ll have to do some throwbacks

Let’s Catch Up – GBU 3

Hi there,

Thanks to everyone for your ongoing support and feedback these past few weeks!

Overview

Long time no speak (2 weeks to be exact). Been pretty lazy with these updates in the past few weeks so a lot to cover — let’s get straight into it.

Honestly, can’t give enough props to Matthew for his progress building the electronic skateboard. With only a week before he goes to showcase Charged at the Futur en Seine convention in Paris— we’ve been tracking perfectly with only a few minor hiccups. That being said we are eagerly waiting on the shipment of our in-hub motors to arrive which could prove disastrous if they don’t arrive in time…

Work at Flux has been very exciting too, with a bunch of high calibre speakers coming in to chat with us and the teams. Bill Reichert is a notable mention — He and Guy Kawasaki (an early Apple hire) founded Garage Ventures, a seed and early-stage venture capital firm in Silicon Valley. Bill was a great story teller and covered all things investment and pitching. I think of all the perks — what’s most rewarding about working at Flux is listening in on our guest speaker’s talks and uncovering gold nuggets of insights that aren’t accessible anywhere else.

Ask

  • Nothing to ask for this week

Good

  • Sneaked a weekend back to Sydney to catch up with family, friends and Naomi
  • Better than expected time management on the electric skateboard (which for the moment seems to work)
  • Further clarity on the company vision of Charged (to be explained later)
  • Doing great work with Vidapp, one of our Flux companies. Check out their product at http://www.vidapp.com

Bad

  • Out of stock motors may cost us valuable time and money
  • Cash flow issues as always

Ugly

  • My absolute killer headache last Friday night
  • Matt’s mug

Next Steps

  • Follow up with USPS on our motors

Pic of the week/s

. . .

As always, appreciate your thoughts, comments & ideas!

Cheers,
Nick

Fully Charged – GBU 2

Overview

Overall great progress on Charged, we’re starting to get some company structure in operation. In terms of how we’re tracking – the amount of work that needs to be handled will start ramping up soon, so absolutely vital how we prioritise what’s important and manage the workload. Matt’s continuing great work on the circuit board designs and to his enjoyment, we’re almost at the stage where we can start ordering him the components to begin building.

Earlier this week – an employee from Actemium, a subsidiary of the Vinci Energies Group reached out to me this week regarding my application of Acuris Systems into the Paris VivaTech conference. For some context, the French Embassy in New Zealand is looking to sponsor 8 startups with flights and tickets to VivaTech, Paris in mid-June. I applied Acuris with our automated orchard management solution which apparently caught their attention and is interested to know if we can apply our tech to the energy industry. Will be interesting to see what they have in the pipeline for us, wouldn’t mind a trip to Paris so fingers crossed.

Another short week so not too much more has happened, looking forward to doing it all again!

Ask

  • If anyone can link me up with product designers I would love to chat, contact me on nick@ridecharged.com

Good

  • Starting to get right in the thick of all things Charged. Matt’s getting more excited than a kid on the drive to Disneyland
  • Exciting time at work (Flux) – Starting to see awesome product from the companies, with only 9 weeks to go before demo day
  • Awesome kit from rebrand of The Icehouse (Flux parent company)

Bad

  • Feel like I need to get out of the house more

Ugly

  • No ugly this week

Next Steps

  • Harass kiwifruit growers until they get back to me

Pics of the week

. . .

As always, appreciate your thoughts, comments & ideas!

Cheers,
Nick