2014/10/28 by lingdecklee
1. Where did the idea for your startup come from?
Our idea comes from fire disasters such as the Ala night club incident in Taichung, March 2011.
2. Who are your target customers and why do they use your service or product rather than competitors?
The operation and transfer (OT) type companies, insurance companies, and security companies are our customers. They use our product to serve their customers better and with an added level of safety compared with traditional fire equipment.
3. What is your business model?
We sell our devices with software to the IOT service provider.
4. Give an example of how the marketplace has proved your intuition completely wrong, and another example of when your intuition has been completely on the money. How have you cultivated a better sense of the market?
Our fire products are not intended to replace traditional fire protection equipment. Our product with service is more intelligent than the static exit direction signs.
Developers can use our product to make their building more intelligent. They can apply for a “intelligent building medal” from government to highlight the building’s higher level of safer, and better living standard for their customers.
5. What are the advantages and disadvantages of having co-founders instead of just a founder? How does this affect how decisions are made in your startup?
The pros are as follows:
– we can make a decision with more complete thinking.
– we will not feel alone when we are faced with many difficulties.
– we have an extra 24 hours a day available to solve a flood of tasks in our company.
A con is that we have different ways of dealing with the same thing. Therefore, we sometime need to talk about which has to be done first before how to do it, which might waste a lot of time and energy.
6. What has been your best marketing investment to date?
Hire the right people and trust them can help us to build a high-quality product.
1. What pivotal experience led you to seriously consider entrepreneurship?
When I was just a 23-year old student, there was a horrible fire tragedy happened in Taichung. Ala night club had caught fire, and I saw on the news how the survivors panicked and many victim’s bodies were carried out. I was shocked and could almost feel what they suffered in those darkness, smoke and flames. This event impacted me greatly.
2. What has been your greatest challenge since becoming an entrepreneur?
The huge burn rate in hardware development and the time it takes to discuss and make decisions takes a long time.
3. What helps you keep going in the face of challenges and obstacles?
We believe in our mission of saving people’s lives.
4. What experience has been most useful to you in your entrepreneurship journey?
Talking with experts and users has been most useful in understanding and knowing what I need to pay attention to.
5. What do you need to learn or improve to take your business to the next level?
We need to understand and face the fire regulations and culture of the market in China.