FF 011: 'The Savviest Investors Don't Ask What If' with Ben Nader, CEO & Founder @ Butterfleye

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 4 September 2015

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ben Nader is Founder and CEO at Butterfleye, the most advanced wireless home monitoring system. In other words, Google Nest meets Dropcam. Butterfleye's investors include some of the biggest and most prominent names in the industry including our friends and past guests Brad Feld and Jason Calacanis. Butterfleye currently have a campaign on Indiegogo, which you can support here!

In Today's Episode You Will Learn:

1.) How did Ben come up with Butterfleye?

2.) How does Butterfleye differentiate itself from other competitors like Dropcam?

3.) How much better does a new product have to be to beat the existing incumbents?

4.) Does Ben prefer mass market testing or small targeted testing with fewer individuals?

5.) How did Ben get his first customers?

6.) What has Ben done to drive the success of his Indiegogo campaign? What tips would he give to founders looking to raise on these platforms?

7.) How did Ben get Jason Calacanis as an angel? How did Ben find the fundraising process?

Items Mentioned In Today's Show:

Ben's Fave Book: The Alchemist by Paolo Coelho

Ben's Fave Newsletter or Blog: Brad Feld's Feld.com, Jason Calacanis' Launch Ticker

Ben's Fave Productivity Apps: Asana, Sunrise Calendar, Calm Meditation App

As always you can follow Harry, The Twenty Minute VC, Ben and Butterfleye on Twitter here!

If you would like to see a more colourful side to Harry with some mojito sessions to come, you can follow him on Instagram here!

Transcript

Click on a timestamp to play from that location

0:00.0	It's Friday and that can only mean one thing here at the 20 minute VC. It's time to welcome a brilliant
0:05.8	founder to the show. And today we have the fantastic Ben Nader, CEO and co-founder at Butterfly,
0:12.9	the home security camera that can learn what not to record. It's probably best described. As if
0:19.1	Google Nest and Drop Camera were to have a baby,
0:22.1	Butterfly would be the product. Their investors number some of the best and most prominent in the
0:27.1	industry, including our dear friends and past guests, Brad Feld and Jason Kalakanis,
0:32.5	who I would like to say a special thank you to for introducing us to Ben.
0:36.0	And Butterfly currently have a campaign on
0:38.2	Indiegogo and you can find all the links for that in the show's description. But before we jump
0:43.4	into today's interview, a real problem many founders have in scaling their business is in the hiring
0:48.6	process. And that's where hiring screen can help. I spoke to one of their customers the other day
0:53.8	and he said it's where recruitment meetsScreen can help. I spoke to one of their customers the other day,
0:59.2	and he said it's where recruitment meets Rocket Science after having saved two days of work through using HiringScreen's Blink algorithm to analyse the CVs of potential candidates.
1:05.3	So check out HiringScreen at www.hiring.com for for rocket science hiring without the lab coats.
1:13.1	But now it's time for me to shut up, so without further ado,
1:16.3	I'm so thrilled to welcome the inspiring Ben Nader, CEO and co-founder at Butterfly.
1:30.9	You have now arrived at your destination.
1:37.2	Can you start us off today, Ben, by telling us a little about yourself and a little about butterfly and how you came up with the idea?
1:39.6	Absolutely.
1:40.4	Well, thank you very much for having me.
1:42.6	So, yeah, a little bit about my background. So I am, I was born in Middle East, actually. And when I was in high school, my family immigrated to States. And I went to high school and college here. I studied electrical engineering. Ever since I was a little kid, I loved the gadgets and
2:01.8	electronics and building things. So electrical engineering was really a great match for what I was
	...

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