BizVoice July/August 2014 - page 19

July/August 2014 – BizVoice/Indiana Chamber
19
Accelerating and Beyond
Chris Bailey, founder of Gear Brake, and Andrew Klawier, managing partner of Groom HQ,
were in the second cohort of accelerator program participants at Velocity Indiana.
Gear Brake has developed a module for the motorcycle brake light that detects when the
motorcycle is slowing down. With 75% of motorcycle braking occurring by letting off the
gas (and not activating the brake light), this new product can help deter rear end crashes.
Groom HQ tackles wedding planning from the male point of view. (Yes, there is a
male role other than agreeing with the bride-to-be).
Bailey and Klawier share a few insights:
What surprised you the most
during the 10-week period?
Bailey: “The speed at which they help push
you forward. I wanted to finish product
development and testing, and do three
to four months more work. They were
like, ‘Dude, just start selling it now.’ ”
Klawier: “I didn’t expect the amount of
progression we would have in the 10
weeks. They just force you to move at
such a pace and accomplish so many
things. I look back and say, ‘I may have
gotten a tenth of that done by myself.’ I
would have actually understood another
tenth of that.”
How much did your ideas change during the program?
Klawier: “The program forced us to narrow our scope. Bachelor party planning, that’s
what grooms care about. We talked to hundreds of people. None of them wanted to talk
about attire or wedding planning. As soon as you say two little words, bachelor party, eyes
get a little sparkly.”
Bailey: “I came in pretty sure we had the
right customer, had a good fit. That
changed here to more to dealers instead
of direct to customers. And not just
motorcycles like we thought but also
medium and heavy duty trucks.”
What were the advantages of being
around other entrepreneurs?
Bailey: We both are kind of working by
ourselves, but then you don’t have people
to bounce ideas off of. Here, we don’t
have to track anybody down. You just
look behind you, ask somebody to take
five minutes to learn what they think.”
Klawier: “Even though we’re in completely different markets with different customers,
we’re still at the same stage. All have the same concerns – whether it’s bringing on a
partner or a customer has this issue and knowing how to handle it.”
Are you having a blast?
Klawier: “It ebbs and flows. You get your rush of reaching a big milestone, then the next
day something happens and you’re questioning your life.”
Bailey, who delivered his first product to a dealership (and received payment) that day: “It’s
been a very exciting roller coaster, especially early on. The highs definitely help buffer the lows.”
RESOURCES:
Chris Bailey, Gear Brake, at
| Andrew Klawier, Groom
HQ, at
Finding the right model
It took multiple years for Velocity
Indiana to become a reality. In contrast, the
accelerator is intended, in Schy’s words, to
“achieve rapid acceleration in a business
model. We really focus on helping teams get
their arms around whether or not there is a
valid business there.”
In each of the first two cohorts, five teams
(three from the West Coast and one from
Chicago in addition to local entrepreneurs) were
selected for the 100-day accelerator. Education
programs are combined with dialogue with
those who have started their own businesses,
attorneys, information technology professionals,
middle managers and others who can provide
meaningful guidance and assistance.
A key component of the process is called
the Lean Launchpad. Schy explains.
“A hallmark of that program is that once
a week each team has to stand up in front of
its peers and a group of mentors and present
their business model. It really forces them
every week to make forward progress. You
begin to take assumptions that you think are
the underpinning of your business model and
convert them from assumptions to facts. You
quickly determine whether you’ve got good
assumptions … or need to adjust.”
In addition, the budding entrepreneurs are
out on the street testing the viability of their idea.
“You have to speculate on who you
believe your customer is and what you believe
your value proposition is,” Schy contends. “We
help them understand the process of going
out and talking to those customers. There’s a
right way and a wrong way to talk to those
people. Don’t talk to your mom and friends.
Talk to people who don’t have a horse in the
race and talk to them in a way that doesn’t
predispose them, doesn’t lead them.
“Entrepreneurs can really struggle with
that because they’re generally very passionate
about their idea,” he continues. “You have to
ask people in a way that doesn’t lead them to
the answer you’re looking for. It’s kind of
like cheating on Weight Watchers. Cheating
just gives you a false sense of security that
will eventually come back and get you.”
The Velocity role, according to Schy, is
to select the right people – not what appear
to be the most promising ideas. The results
can be beneficial for Indiana and the metro
Louisville area.
“Early-stage companies are so high risk.
If you pick the right entrepreneurs, we know
that even if their first idea doesn’t quite work
out, they’ll lick their wounds and try again,”
he shares. “You can eliminate teams based on
bad ideas, but it’s really hard to pick the winners.
Our job is to make sure we give them what
they need to succeed – as a region, as a state,
Chris Bailey (at whiteboard) is charting a rapid
growth course for Gear Brake.
Andrew Klawier (right) of Groom HQ updates
Velocity Indiana Managing Director Tony Schy on
the progress of his company.
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