Today's guest is Melissa Kwan, founder of eWebinar, a company that turns videos into interactive webinars. She's an outspoken bootstrapper, and her journey and perspectives are fascinating. Enjoy!
Director, producter, co-creator: Christopher Mudiappahpillai
Founder, host, co-creator: Rob Kenedi
Good jokes: Paul Bates
Bad jokes: Rob Kenedi
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00:04:03 - Introduction of Melissa Kwan
- Rob introduces Melissa Kwan, founder of eWebinar, and mentions her journey as a bootstrapper.
00:04:14 - Overview of eWebinar
- Melissa explains that eWebinar automates webinars by turning videos into interactive webinars, particularly useful for onboarding and training.
00:04:52 - Features of eWebinar
- The platform includes interactive elements like polls, questions, and asynchronous chat for real-time or later responses.
00:05:11 - Competitors
- Melissa identifies competitors such as EverWebinar and EasyWebinar, noting that most focus on live webinars while eWebinar specializes in automation.
00:06:02 - Previous Company
- Melissa discusses her previous company, Spacio, which she exited in 2019, and reflects on her revelations before starting eWebinar.
00:07:39 - Media's Measure of Success
- Melissa emphasizes that media recognition does not equate to personal success, highlighting the importance of personal metrics over external validation.
00:08:25 - Journey to Understanding Success
- Melissa shares her journey of moving to New York and the pressures of startup culture, leading to her realization about the nature of success.
00:10:20 - The Impact of Not Raising Funds
- Melissa reflects on how not getting funded allowed her to build a profitable business without the pressures of investor expectations.
00:11:05 - Debt and Financial Struggles
- Melissa discusses her financial struggles, including debt from her previous startup, and the mental toll it took on her.
00:17:02 - Mental Preparation for eWebinar
- Melissa describes her mental state when starting eWebinar, including fears of returning to previous struggles and the need for a positive mindset.
00:25:02 - Non-Negotiables for the New Company
- Melissa created a list of non-negotiables for her next venture, which guided her decision-making process.
00:30:05 - Purple Ocean Strategy
- Melissa explains her approach to eWebinar as a "purple ocean" opportunity, improving upon existing solutions rather than creating something entirely new.
00:32:11 - Friends and Family Investment
- Melissa discusses taking friends and family investments and the importance of transparency regarding the risks involved.
00:35:07 - Structure of eWebinar's Investment
- Melissa explains how eWebinar was structured to allow for dividends based on investment percentage, which differs from traditional VC models.
00:36:05 - Drawbacks of Bootstrapping
- Melissa acknowledges the challenges of bootstrapping, including the need for side hustles and the distractions they bring.
00:40:39 - Speed to Market
- Melissa reflects on the speed of bringing eWebinar to market, emphasizing the importance of having a revenue-generating product from the start.