OMate aka Outsourcing Mate pitched at The Unconvention for Melbourne's Entourage in 2012. The pesentation describes what OMate does as a company, how it does it, and introduces the team.
1. Here’s What most of Us know
Made $1 billion in 2 years
Record IPO $104 billion
‘11 Revenue $106 million
2. But Here’s What most of Us Don’t know
60% of App dev
not breaking even on dev costs
Top 1% of iOS game dev capture
a third of revenue from
gaming apps industry
2 out of 3 commercial web apps fail
due to technology errors
3. So what’s Causing all this
Increased Dev Costs
Poor Technical know-how,
Market Resarch
Bad Business/revenue models
6. Executive Summary
OMate - Outsourcing Mates
providing consulting, IT outsourcing
facilitation and risk management
services for people with
digital dreams to help them
realise their dream
9. The Model
Common Trap in Realising Digital Dreams
100 %
User Project
Idea Vendor Product
Requiremen Mgmt/
Validation t Analysis
Selection Marketing
Delivery
20~30 % 70~80 % As Needed
10. Revenue
Our Services
User Project
Idea Vendor Product
Requiremen Mgmt/
Validation t Analysis
Selection Marketing
Delivery
App BRD & Vendor App App
Vision Mock Ups Mgmt Delivered Launch
11. Expenses
Takes to Make
Cloud Based
Software
Consultant Service
Wages Providers
Office
Space
12. How are we Different?
We are Agile
We are Open
We are IT & Business Consultants
13. The Team
The OMate Team
Combined exp
8-9 yrs
The OMate Advisers/Mentors
Rev $10s mil
In 2011
Raised $15 mil
Wealth & Peak
Performance Coach
14. Partnerships
Requested from suppliers we said No
Best Partnership with Clients
We provide our clients with
Lifetime Access
to our Consulting Services
AND
Fee Discount for Small Equity
Eg 10% equity for 2 clients
15. Who Will Buy & Why
Our Client Portfolio
Specifically the equity owned
by the company
Our Processes &
Specialised Dev Networks
16. Action Plan
Milestones Date
Systemised All End of Year 1
Business Processes
Have Right Advisory Board in Place 2
5 Full time Consultants 3
Equity in 5-6 profitable tech products
Exit 5
Most people with tech ideas jump to stage 4 which is actually building the idea into a working app. This is where they spend 100% of their time and money. We believe atleast 20% to 30% of your budget should be spend on all these value adding activities before actually building the software.
Vendor Management is Key Imagine Your app as a car. Planning and designing allows you to experiment with your ideas and business model Once you’ve selected your vendor and have begun application development, your car is on the road going down the highway at 100km/h. There’s mass and momentum, you’re committed to A o
Salary for consultants is our biggest expense. Subscription fee to business tools. We use 100% cloud based business tools from CRM, to accounting to project management. Consultants work from home. It is a very lean business model. Monthly expenses are only around $5k.
Add MBIT melb uni logo Cullen group Profit from big commerce
We had requests from suppliers but we said no as its not in client’s interest. The best partnership is partner with the client itself. We provide lifetime access to our consulting services post release or provide discounts for a small equity. We already have 10% equity in 2 of our clients project .
Change based on Bvaraths Script Who will buy this business and why? Tech investors and consulting companies because of the equity in high growth tech startups What must your business look like to achieve the highest possible multiple? Services – 10 high value consultants approx $3 mil Equity – 5-10% equity in 10 different tech startups What’s the timeline? Give breakdown – milestone at 1mile -2.5 mile, etc In five years $10 mil, generating $3mil pa ($1 mil net from services and $2 mil net from tech portfolio)