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Twitty.io

Dead Inventory Management System

A Technology Start Up
  • Role: Founder
  • Mission: Increase Inventory Turns World Wide
  • Period: 4/2011 - 2014
Previous work
alternative title

Fryerning Hall Barn

Introduction

Built a fully staffed
global serving
technology company

Project Mission

Dead Inventory Management System was the first and only market place for Maintenance Repair Automation parts. It was powered by a proprietary, automated listing tool that would fully decorate and list automation parts by the manufactures part number, online, for sale. The listing pages created out of the part numbers generated SEO rich pages for each individual part. This allowed for large manufacturing warehouses to list and sell idle, dead inventory online very easily and quickly.

DIMS allowed manufacturers to list for free and we made commission on each sale. Our average sale was $600 dollars and we never saw the part. The market place would print a blind shipping label for the part upon purchase for the seller to quickly ship the part to the buyer. The sellers would generate the list of parts they wished to sell by running inventory reports on their Enterprise Resource Management system. The report would be exported then uploaded to our system and instantly online for sale if they approved our suggested price, description, shipping weight and other various attributes DIMS would generate for the item.

This tech start up was truly a disruptor in the industry gaining large clients immediately and out grew a 2 man crew very fast. We expanded to one development team in the United States, one team over seas, a sales team and a customer management team that served customers globally. Venture Capital comes with an expensive price sometimes. If I rebuilt this company it would be grown 100% organic and would be fun making money while I am sleeping again.

CEO Responsibilities

  • • Created 5-year financial projections including the Ask, PNL, Cash Flow, Personnel, Best Worst Case, PMT/ Debt and a driver tab
  • • Designed and pitched decks for Venture Capital Investors, Accelerator Programs and Grants
  • • Negotiated cash equity deals and convertible note investments
  • • Prepared SEC filing documents when selected to be an iSelect Fund portfolio company
  • • Managed relationships with VCs, customers, venders, and employees
  • • Set budgets, financial projections and goals for each round of funding
  • • Hired and managed development teams overseas in office dev team, sales team etc
  • • Designed and managed full development life cycle of technology from conception to launch of an enterprise scale, custom marketplace with proprietary features that drove revenue

The Grind

  • • Stood up servers and built first generation automated listing tool
  • • Stood up can food ecommerce site and integrated it with PayPal Pay Flow Pro, UPS, SSL Certification (installed), eBay, and custom proprietary software among other things.
  • • Installed site monitoring tools to understand where our customers come from, how they behave and tailored future developments to accommodate user needs
  • • Attended networking events, probed contacts to generate leads and convert them to sellers.
  • • Studied Search Engine Optimization and built in organic SEO meta data to each listing and organically beat almost all online competition
  • • Notice how this site has search engine rich URL structures

Business Highlights

  • • $40,000 gross sales in one month, the 6th month in business
  • • Cash positive with Minimum Viable Product
  • • Capital Innovators Accelerator Program Portfolio Company
  • • iSelect Fund Portfolio Company
  • • Clients included Mallinckrodt Pharmaceutical, Mark Andy, French Gerleman
  • • Named top ten start up in St Louis by ITEN
  • Featured in St Louis Business Journal several times

Technology Highlights

  • • Sellers portal for each seller to manage uploaded inventory, monitor statistics and reporting to reconcile books with website sales
  • • Administrative login to manage marketplace activities and monitor performance metrics
  • • Full, enterprise level, marketplace, completed with seller ratings, integrated with many APIs, wish lists, seller ratings, dispute portal and modern UI/UX to help users navigate and trust the site easily.
  • • Built SAP applet to integrate directly with ERP system and intent to integrate with more ERP systems