The Journey to a Business Model: Lessons from SpotHero and Ao1 Solutions
Details
From Idea to Dollars
SpotHero cofounders Mark Lawrence and Jeremy Smith discuss the rocky road from a product idea to a product people will pay for. Hear what hypotheses they started with, what risks they took, and how they gained traction. Now experiencing rapid growth, SpotHero has become the Orbitz of Chicago parking spaces.
Background:
Mark and Jeremy founded SpotHero to bring sanity into the process of finding a parking space in Chicago. SpotHero is a platform that allows users to find and reserve affordable parking at a specific venue or for a specific event. In networking with some of the largest parking operators in the country and utilizing the Lean Startup methodology, Mark and Jeremy have found a business model that brings value to anyone with a car or a parking garage.
Following the Money
AO1 Solutions' founder Tyrre Burks talks about the twists and turns that have brought him to where he is- a successful startup on the verge of going international. Through extensive customer interviews and several pivots Tyrre discovered that following the money is a good method for discovering who your customers are.
Background:
Before participating in the 2011 Chicago Lean Startup Challenge, Tyrre played professional football in the European and Canadian Football Leagues. His experience led him to realize a gap in communication within sports organizations. AO1 Solutions’ product, Team Interval, seeks to streamline the communication, paperwork, and administration among players, coaches, athletic directors and staff.