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Mats Horn. He\\u2019s the CEO and founder of the Swedish tech company, Tinitell. Together with a team of Scandinavian industrial designers, telecom experts and engineers, he developed one of the first wearable devices with cellular connectivity for voice and data. Tinitell wrist phone is an ingeniously simple wearable phone for kids with call and smart location features as well as an intuitive, one button, voice guidance interaction.

Famous Five:

• Favorite Book? \\u2013 Sapiens
• What CEO do you follow? \\u2013\\xa0 N/A
• Favorite online tool? \\u2014 Slack
• Do you get 8 hours of sleep?\\u2014 Yes
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 Mats would tell himself to not be in a rush and take life as \\u201cunseriously\\u201d as possible

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Time Stamped Show Notes:

• 01:31 \\u2013 Nathan introduces Mats to the show
• 02:12 \\u2013 Tinitell is a simple mobile phone that kids wear
• • 02:20 \\u2013 It\\u2019s a smart locator for parents
  • 02:35 \\u2013 Kids can make and receive calls
• 02:57 \\u2013 Tinitell is independent from its smartphone administrators
• • 03:03 \\u2013 It is like a robot in a simple product
  • 03:13 \\u2013 The smartphone app is how the parents control what\\u2019s in it
• 03:36 \\u2013 Tinitell needs to have a SIM card and it is already provided
• 03:50 \\u2013 Tinitell is partnered with a telco
• 04:48 \\u2013 Tinitell was launched in Kickstarter in 2014
• • 04:54 \\u2013 Shipping started after a year and a half
• 05:16 \\u2013 Tinitell has shipped 15K units
• 05:30 \\u2013 Tinitell sold 1,102 units in Kickstarter
• 05:41 \\u2013 Tinitell has raised $150K in Kickstarter
• 05:51 \\u2013 \\u201cIt\\u2019s tough making the world\\u2019s smallest mobile phone\\u201d
• 06:03 \\u2013 Tinitell has put it in additional $4M for funds
• • 06:18 \\u2013 \\u201cMost money came from VC companies\\u201d
• 06:25 \\u2013 Tinitell has raised thrice
• • 06:36 \\u2013 All are equity rounds
• 06:53 \\u2013 Mats shares why he raised in smaller rounds
• • 07:35 \\u2013 In doing smaller rounds, Mats and his team wouldn\\u2019t dilute themselves
• 08:03 \\u2013 Mats was working as a consultant before Tinitell
• 08:25 \\u2013 Mats realized that he wanted his own company
• 08:29 \\u2013 Mat\\u2019s idea of Tinitell
• 09:15 \\u2013 Team size is 30
• 09:25 \\u2013 Average number of customers
• 09:43 \\u2013 The critical numbers of Mats
• 10:12 \\u2013 Mats looks at the conversion rate and general market activity
• 10:50 \\u2013 Tinitell\\u2019s competition
• 11:20 \\u2013 What people should look at in conversion rate
• 11:40 \\u2013 Tinitell has 4 colors
• • 12:03 \\u2013 The bestsellers are the darker colors
• 12:36 \\u2013 Markup vs. cost
• 13:49 \\u2013 Mats shares about making a physical product\\xa0
• 15:15 \\u2013 Mats shares how he finds his suppliers
• • 15:32 \\u2013 \\u201cI knew I had to go to China\\u201d
  • 15:48 \\u2013 Mats has to have a network of suppliers
  • 16:29 \\u2013 Mats reached out to everyone he knows who could possibly help him
• 18:00 \\u2013 The Famous Five

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3 Key Points:

• Know your numbers and track them consistently.
• Your network can be your advantage in sourcing and creating your product.
• Enjoy life\\u2014take things slow and don\\u2019t be in a rush.

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Resources Mentioned:

• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Drip \\u2013 Nathan uses Drip\\u2019s email automation platform and visual campaign builder to build his sales funnel
• Toptal\\xa0\\u2013 Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn\\u2019t have to hire a co-founder due to the quality of Toptal
• Host Gator\\xa0\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
• Audible\\xa0\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
• The Top Inbox\\xa0 \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Jamf \\u2013 Jamf helped Nathan keep his Macbook Air 11\\u201d secure even when he left it in the airplane\\u2019s back seat pocket
• Freshbooks \\u2013 Nathan doesn\\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives