John-Daniel, co-founder and CEO of Mindscape, shared many of the lessons he’s learnt while building a successful software business now growing at 30% per quarter. Mindscape was built on a philosophy of having fun and building great software. John-Daniel’s journey started with a $10k investment from each of the then three founders, to raising >$1.5m angel capital and on the way turning down an opportunity to work for Xero. In JD’s words, “I’d rather own my own Lambourghini than drive Rod’s Porsche”. Raygun, Mindscape’s most successful product to date, is now eclipsing the company brand and represents the bright future of the company.
3. Our Philosophy
• Build to flip is poor business.
• Demonstrate traction without OPM.
• Treat others how we want to be treated.
• Sales cure all.
• Earn while we sleep.
• Be frugal.
• Have fun, build great software.
14. What did we learn?
• Don’t dwell on the door that closes.
• A Shareholders Agreement is a Good Idea.
• Starting a business is not for everyone.
• Know co-founders well.
17. What did we learn?
• How VC’s & Angels worked.
• How capital raising worked.
• Met amazing people who proved to be more
valuable than the equity.
• Focus is a limited resource, deploy it with care.
22. Our capital raise
• Basically broke most of the rules.
• It’s hard work - really hard work.
• Hold to your deadlines.
• Surround yourself with the right people.
• Wealthy folks take long holidays.
23. The rise of Raygun
• Learning new lessons on growing teams.
• Compound growth is bliss.
• Billions of errors processed.
• Just getting started.
• Hiring btw.
24. Looking to start?
• Be frugal - you do not need much capital.
• You have super powers, use them.
• Learn as much as you can.
• Meet people, network, help others.
• Do it now!