Mobile Demand: Expertise and Resources = Success
Matt Miller, President
1350 Boyson Rd. NE
Even a well-educated entrepreneur with industry expertise needs a little help to get to the "next level." That was the case with Matt Miller, president and founder of Mobile Demand, a supplier of rugged mobile computers to the wholesale beer industry. Wholesalers use his portable computer equipment to improve the efficiency and accuracy of their retail sales channel.
Armed with an MBA and over 10 years of experience in the mobile computing industry, Miller identified the opportunity to better serve the beverage industry while working for a start-up mobile computing company in New Hampshire.
While Miller had already done his homework and drafted a business plan, he still needed a few things, including money, so it was then that he enlisted the help of the newly-founded Entrepreneurial Development Center, Inc. (EDC). According to Miller, the EDC helped him get his business plan "into focus" and helped him clearly tell his story to potential investors.
"In fact, EDC President Curt Nelson even joined me in a meeting with a potential Korean firm to help me determine if it would be a good joint venture," said Miller. "After that meeting, Curt confirmed my thoughts that I would be better off bootstrapping without significant outside investment. Once we took a good look at the financials, we figured out that if I modified the way in which orders were taken and I concentrated my energy on the niche/beer market opportunity itself, I could fund my own business and not relinquish any of my equity," he added.
Miller says that the inviting environment at the EDC made it a great place to test ideas and gain strategic insights. "For a while, I was at EDC once a week and Curt always found the time to listen to my ideas and provide valuable advice at no charge to me."
With EDC introductions to community resources, including legal, banking and marketing resources, and a more focused business plan, Matt Miller concentrated his efforts on sales and became profitable within six months.
First starting as a dream in 2003, Mobile Demand will generate nearly $2 million in sales revenue in 2005, with significantly higher projections for 2006. Congratulations to Matt Miller for taking the risk to create a new, Cedar Rapids-based business that will benefit Miller, his employees and the community.