Andrea Barrica, Entrepreneur in Residence at 500 Startups, was at Shift Conference 2015 in Split, Croatia to talk about how they turned inDinero From Vitamin to Painkiller. See video of her presentation here: http://youtu.be/GNeTwwQgqu8

1. Andrea Barrica,
venture partner/EIR @
@abarrica

2. From Vitamin to PainKiller:
Story of

5. !
!
!
$1.1M seed
!
!

7. 2011
(private chefs)

8. 2011

9. We weren’t making money.
!

10. Steve Blank, a forefather of “Lean Startup”

11. “Congratulations,
you’ve failed!”

13. 5 Lessons
!
(on how to bootstrap a startup
after burning $1M)

14. Lesson #1
don’t look back

15. we fired everyone

16. (even our customers)

20. Lesson #2
back to basics:
find the pain

23. Lesson #3
empathy pay$
!

24. be delightful,
get referrals
=
$1M ARR in 10mo

25. "inDinero has saved us thousands of
dollars and reduced the amount of time I
spend thinking about accounting by
many hours a week. A fantastic
investment."
!
- Kaz, CEO of Kash

26. Lesson #4
beware metrics that
don’t matter

27. the vitamin:

28. 20K “users”
“5M transactions/month”
“$2B processed”

29. the painkiller:

30. !
$315K MRR
-400+ paying customers
!
-growing 2x YoY
!
-99% MoM retention rate

31. !
revenue
MoM % growth
CAC vs. LTV
% referrals
WAU/DAU
!

32. Lesson #5
find pain first,
then worry about scale
!

33. “not scalable?”
315K MRR!
99% MoM retention rate
80% gross margins

34. Bonus Lesson:
diverse teams win

35. !
Diversity will make you more money.
!
+women
+minorities
+introverts
+high empathy
+all ages
!

36. Andrea Barrica
@abarrica
andrea@500.co
Hvala lijepa!