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PAPERWORK SIMPLIFIED




Digitizing the small business invoice space is an obvious solution, but it hasn’t been done yet. We
asked why.

It turns out all the stakeholders are using different software, different programming languages, and
different formats, and no one is interested in adopting a central standard.

So we did it for them.

Nickler is a digital translator for small business invoices, allowing us to take any invoice, in any format,
and seamlessly sync it with their bookkeeping software. Cloud based approval, flagging, and payment
on the your mobile phone. Deep SKU level analytics in real time, with no data entry.


                                     Sean Sherwood Don Burks
                                                February, 2013
                                                www.nickler.biz
Hard work without talent is a shame, but talent without hard work is a tragedy.
                                                                                                            - Robert Half


Sean Sherwood                                                    Don Burks
Founder/CEO                                                      Co-Founder/CTO
sean@nickler.biz                                                 don@nickler.biz


SINergy Hospitality Group – Founder/CEO                          Metrolyrics.com – Senior Developer
“top 50 tables in the world” – CondeNast Traveller               Sentry Payments - Developer
Grew from 0 to $6m+ annual sales                                 jQuery A to Z - Author (due Aug 2013)
Mojo4Business SMB Consulting – Founder/CEO                       Microsoft Training & Quality Manager
Advising startups, executives, franchises, founders


                                                      Advisors

Jeff Magnusson               Playerize - Co-Founder/CEO
                             RiverStyx (Sentry Payments) - Founder/CEO

Stephen Johnstone            Boston Pizza Intl - CIO

Chung Wong                   Jump2Spot.com - Founder/CEO

Garth Shoemaker              Intel, Google – Software Engineer
                             PHD - Human Computer Interaction, UBC

David Carley                 Microsoft - Senior Business Solutions
The Problem
                                                                                Data Entry Rules
                                                                                the small business workflow




Small businesses spend upwards of $3500/month on bookkeeping, which is only the manual data entry and
reconciliation of invoices and payments. Take away the data entry, and it takes under an hour per month to
complete.
The Problem
How are the smart small businesses currently entering their invoices?
We decided to
            Digitally integrate
           the small business invoice chain




Supplier                                      Small Business




                       $$$
Ppt nickler 2013
Business Model

         Nickler has three revenue streams:


                 Monthly subscription
          $10/month to integrate Quickbooks with Nickler
           $10/month for automated inventory module


              Supplier Merchant Account
                           $99 setup fee
                          $35 monthly fee

          Invoice payment transaction fees
                 ACH/Direct Deposit transaction fee
                Credit Card % fee and transaction fee
Market Size

    30 million
                                   Over 30 million prospective Nickler users
North American
   Small Businesses                     Over 500k new small businesses start up every year




Revenue                    Conversion           Monthly                Annual
Monthly Fees                                       $10                  $120
Transaction fee ACH/DD   20 transactions           $5                    $60
Transaction fee CC       $5000 @ 0.2%              $10                  $120
Average Rev/User                                   $25                  $300
Network effects growth model
    User                Connections          Conversions      Net referrals
    Supplier             200 SMBs                10%               20 SMBs
    Buyer               30 Suppliers             10%          3 Suppliers
    Individual       5 SMBs/Suppliers             1                  1

                 Focused supplier sales powers the referral loop
User Acquisition

  Launch                         Growth                      Maturity
        Word of mouth, active social media community, evangelist users

               Engineered referral loop with Supplier customer lists

Direct Email                Channel Partners            Advertising
•Opt in list                •Bookkeeping software       •Adwords
•Industry associations      •Evangelist Users           •Channel Partners
•Existing network           •POS software               •Industry Publications
•Direct Sales               •Affiliates                 •Webinars


SEO                         PR
•Organic search             •Inbound Marketing
•Optimized page markup      •Trade shows
                            •Media lists
User feedback

“I’ll happily pay for this, are you sure you don’t want to charge for it?”
                                          – Jarrod Purnell (Wok Box)

“I need all my suppliers to use this, let me give you a list”
                                         – Neil Wyles (Hamilton Street Grill)

“So my investor can log in and see my purchases and cash flow in real time? Awesome”
                                     – Torben Sherwood (Valley Games)

“This looks amazing, why hasn’t anyone done this yet?”
                                     – (multiple)

“This will revolutionize my business, I’m in”
                                        – Neil Anderson (Madrone Custom Millwork)

“Stop talking to me, I need this now, go build it”
                                       – Mark Brand (5 venues)
Key Competitors
Existing and potential



Key Competitor:                           Potential Entrants:

              •   No SKU level tracking         •   Existing user base
              •   No Analytics                  •   Acquire Tradeshift
              •   Manual entry required         •   Evolve GoPayment
              •   Documents focus               •   History of acquisitions




                         Advantages                      Defensibility

             •    Deep User Value               • Integration with all
             •    SKU / analytics focus           platforms
             •    Simple interface              • SKU integration
             •    Costs focus                   • Vertical focus
Goals


Development          Operations            Promotion                 Scaling

Expand bookkeeping   Front end Developer    Conventions and     North American rollout
    integrations                              tradeshows
                      Hot shot Designer                         Top 200 small business
  Expand mobile                                Inbound            suppliers targeted
    Feature set           VP Sales         marketing/blogging
                                                                Channel partnerships
                        VP Marketing       PR/Media campaign         engaged
     Explore
Windows/Blackberry
                                            Outbound sales
     mobile
                                              campaign
PAPERWORK SIMPLIFIED




   Founders Blogs
   Sean Sherwood
   www.startupathlete.com

   Don Burks
   www.donburks.com




                       Sean Sherwood Don Burks
                             February, 2013
                             www.nickler.biz

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Ppt nickler 2013

  • 1. PAPERWORK SIMPLIFIED Digitizing the small business invoice space is an obvious solution, but it hasn’t been done yet. We asked why. It turns out all the stakeholders are using different software, different programming languages, and different formats, and no one is interested in adopting a central standard. So we did it for them. Nickler is a digital translator for small business invoices, allowing us to take any invoice, in any format, and seamlessly sync it with their bookkeeping software. Cloud based approval, flagging, and payment on the your mobile phone. Deep SKU level analytics in real time, with no data entry. Sean Sherwood Don Burks February, 2013 www.nickler.biz
  • 2. Hard work without talent is a shame, but talent without hard work is a tragedy. - Robert Half Sean Sherwood Don Burks Founder/CEO Co-Founder/CTO sean@nickler.biz don@nickler.biz SINergy Hospitality Group – Founder/CEO Metrolyrics.com – Senior Developer “top 50 tables in the world” – CondeNast Traveller Sentry Payments - Developer Grew from 0 to $6m+ annual sales jQuery A to Z - Author (due Aug 2013) Mojo4Business SMB Consulting – Founder/CEO Microsoft Training & Quality Manager Advising startups, executives, franchises, founders Advisors Jeff Magnusson Playerize - Co-Founder/CEO RiverStyx (Sentry Payments) - Founder/CEO Stephen Johnstone Boston Pizza Intl - CIO Chung Wong Jump2Spot.com - Founder/CEO Garth Shoemaker Intel, Google – Software Engineer PHD - Human Computer Interaction, UBC David Carley Microsoft - Senior Business Solutions
  • 3. The Problem Data Entry Rules the small business workflow Small businesses spend upwards of $3500/month on bookkeeping, which is only the manual data entry and reconciliation of invoices and payments. Take away the data entry, and it takes under an hour per month to complete.
  • 4. The Problem How are the smart small businesses currently entering their invoices?
  • 5. We decided to Digitally integrate the small business invoice chain Supplier Small Business $$$
  • 7. Business Model Nickler has three revenue streams: Monthly subscription $10/month to integrate Quickbooks with Nickler $10/month for automated inventory module Supplier Merchant Account $99 setup fee $35 monthly fee Invoice payment transaction fees ACH/Direct Deposit transaction fee Credit Card % fee and transaction fee
  • 8. Market Size 30 million Over 30 million prospective Nickler users North American Small Businesses Over 500k new small businesses start up every year Revenue Conversion Monthly Annual Monthly Fees $10 $120 Transaction fee ACH/DD 20 transactions $5 $60 Transaction fee CC $5000 @ 0.2% $10 $120 Average Rev/User $25 $300
  • 9. Network effects growth model User Connections Conversions Net referrals Supplier 200 SMBs 10% 20 SMBs Buyer 30 Suppliers 10% 3 Suppliers Individual 5 SMBs/Suppliers 1 1 Focused supplier sales powers the referral loop
  • 10. User Acquisition Launch Growth Maturity Word of mouth, active social media community, evangelist users Engineered referral loop with Supplier customer lists Direct Email Channel Partners Advertising •Opt in list •Bookkeeping software •Adwords •Industry associations •Evangelist Users •Channel Partners •Existing network •POS software •Industry Publications •Direct Sales •Affiliates •Webinars SEO PR •Organic search •Inbound Marketing •Optimized page markup •Trade shows •Media lists
  • 11. User feedback “I’ll happily pay for this, are you sure you don’t want to charge for it?” – Jarrod Purnell (Wok Box) “I need all my suppliers to use this, let me give you a list” – Neil Wyles (Hamilton Street Grill) “So my investor can log in and see my purchases and cash flow in real time? Awesome” – Torben Sherwood (Valley Games) “This looks amazing, why hasn’t anyone done this yet?” – (multiple) “This will revolutionize my business, I’m in” – Neil Anderson (Madrone Custom Millwork) “Stop talking to me, I need this now, go build it” – Mark Brand (5 venues)
  • 12. Key Competitors Existing and potential Key Competitor: Potential Entrants: • No SKU level tracking • Existing user base • No Analytics • Acquire Tradeshift • Manual entry required • Evolve GoPayment • Documents focus • History of acquisitions Advantages Defensibility • Deep User Value • Integration with all • SKU / analytics focus platforms • Simple interface • SKU integration • Costs focus • Vertical focus
  • 13. Goals Development Operations Promotion Scaling Expand bookkeeping Front end Developer Conventions and North American rollout integrations tradeshows Hot shot Designer Top 200 small business Expand mobile Inbound suppliers targeted Feature set VP Sales marketing/blogging Channel partnerships VP Marketing PR/Media campaign engaged Explore Windows/Blackberry Outbound sales mobile campaign
  • 14. PAPERWORK SIMPLIFIED Founders Blogs Sean Sherwood www.startupathlete.com Don Burks www.donburks.com Sean Sherwood Don Burks February, 2013 www.nickler.biz