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Kenny Hawk, the CEO of Mojio. Kenny made millions from iGo, a company he started in his dorm room in the 1990s. He\\u2019s now turning his expertise in wireless technology to good use at Mojio - a company backed by Amazon and Deutsche Telecom that uses cloud-based tech to link your car to the internet. Listen in to hear lessons from the dotcom boom, how Mojio can slash your garage fees, and why Kenny\\u2019s expecting to sell almost 2 million units in the next 2 years.

Famous 5:

Favorite Book? \\u2013 Built to Last
What CEO do you follow? \\u2014 Larry Ellison
Favourite online tool? \\u2014 Evernote
Do you get 8 hours of sleep?\\u2014 No
If you could let your 20 year old self know one thing, what would it be? \\u2014 The most important choice in life is the people you choose to be around you

Time Stamped Show Notes:
01:09 \\u2013 Nathan\\u2019s introduction
01:37 \\u2013 Welcoming Kenny to the show
01:45 \\u2013 iGo was Kenny\\u2019s first CEO gig - he started the business in his dorm room before graduation
02:30 \\u2013 iGo created universal charging adaptors for mobile devices
02:50 \\u2013 Started in 1993 and bootstrapped, followed by angel investment and VC rounds
03:30 \\u2013 Raised $10 million and went public in 1999
03:50 \\u2013 Acquired 3 companies and were then acquired themselves
04:40 \\u2013 Moved from Silicon Valley to northern Nevada
05:20 \\u2013 Top market cap was almost $1 billion
05:40 \\u2013 Market cap was below $100 million - but they came out on the right side of the bubble
06:25 \\u2013 Revenue was around $80 million when they sold
07:15 \\u2013 Gross margin was around 30-40%
07:20 \\u2013 iGo was profitable when it started, but VC investors were focused on growth rather than profit
08:30 \\u2013 People who came in late in the dotcom boom tended to suffer
09:30 \\u2013 Kenny did well out of his company sale
10:00 \\u2013 People went bankrupt by paying tax on optioned gain - then losing everything
11:00 \\u2013 The people who lost the most were the public market
11:26 \\u2013 Mojio was launched in 2012 in Vancouver, backed by Amazon and Deutsche Telecom
11:50 \\u2013 Kenny started in late 2015
12:05 \\u2013 Mojio provides a cloud service to connect cars to the internet - track drivers and know where a shared car is at any time
12:53 \\u2013 \\u201cWhen you\\u2019re not in your car, your cellphone\\u2019s not in your car\\u201d
13:23 \\u2013 The device connects through the onboard diagnostic port - meaning that you know exactly what\\u2019s gone wrong
14:10 \\u2013 Work on a revenue-share basis. Sell units and store data.
15:08 \\u2013 Hoping to join the autonomous car ecosystem once it takes off
15:30 \\u2013 Under 30 full-time employees
16:10 \\u2013 Sales will be within the millions of units in the next 2-3 years
16:35 \\u2013 Why did Kenny come on board instead of starting a new business?
17:12 \\u2013 Kenny grew up in Detroit and loves cars - he also knew and respected the VC investors
17:55 \\u2013 Deutsche Telecom has been a fantastic strategic partner
11:13 \\u2013 Connect with Kenny through the Mojio website
20:22 \\u2013 The Famous Five

3 Key Points:
Surround yourself with the right people. The most important choice in building a successful life and business is who you join forces with.
Find a strategic investor who brings more than just money to your business.
Growth is not everything. The dotcom boom happened when growth outstripped profit - it\\u2019s important to know that your business can work.
Resources Mentioned:
Host Gator \\u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages \\u2013 The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible \\u2013 Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.

Show Notes provided by Mallard Creatives

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