ushering in a business model that's coming more and more popular, which is essentially

IoT or hardware plus software on the back end, following the pattern that others have followed,

which is, again, get the hardware out there.

The only focus is get as much distribution of market share as possible, drive hardware expenses down.

And then on the back end, make your higher margin revenue on the software.

He's got eight paid accounts to today doing a couple thousand bucks per

month in revenue charges five grand up front for basically a year of the software for a grand

and 4k for the software hopes to flip that oh sorry 4k for the hardware hopes to flip that over the

next 12 to 18 months they founded in 2014 team of 20 people between California and remote locations, again,

helping the grain industry decrease spoilage by anywhere from 30 to 50%. Hello, everyone. My guest

today is Naim Zafari. He's a professor of the practice at Brown University and teaches at the

University of California at Berkeley as well. He's a serial entrepreneur and the founder and CEO today of a company called

Telescence, an ag tech startup company.

His last startup, Bitzer Mobile, was acquired by Oracle.

Naima has authored five books on entrepreneurship at naeemzafar.com.

Naim, are you ready to take us to the top?

Yes, indeed.

Good to meet you.

You bet.

So you go from selling basically software to Oracle to an IoT solution for post-harvest grain spoilage.

How on earth do you make that leap?

Well, it's all about timing. So this is my seventh startup. So if I learned anything, your timing has to be right.

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