Jon Cheney, founder and CEO of Velocity Access, discussed how he is building an enhanced ticketing platform by improving the overall experience of the patrons.
Show Notes
[01:12] Jon gave the audience a brief overview of his background. He has lived in different countries and started selling products door to door when he was 8. Before Velocity Access, he started a company called Okavu in 2016.
[04:06] Jon discussed why he was attracted to entrepreneurship. It is not about money. It is more about the process of creation (music, arts and business).
[07:45] The market potential of Velocity Access was discussed. Jon believes the market is quite recession proof and the incumbents are charging exorbitant fees on ticket processing, presenting an opportunity for potential disruption.
[09:25] The revenue model of Velocity Access was discussed.
[14:05] Jon shared his view on Velocity Access's key differentiation. He believes that there is a lot more value on both sides of the equation (venue and customers) if we can develop a longer-term relationship between the two parties. Jon gave an example on how the venue can enhanced the user experience by understanding customers' preferences.
[22:33] Jon touched on the potential of using AI to enhance venue's revenue.
[22:57] Jon shared with the audience his experience in fundraising. He believes that fundraising is a difficult (and big) part of his job (as a company founder). He also discussed his approach in handling difficult questions from investors.
[37:29] Jon discussed how he balanced growth and profitability at Velocity Access. He shared with the audience the approach of profit sharing.
[48:14] The most challenging aspects of growing Velocity Access was discussed.
Book Mentioned in this episode
Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones Hardcover by James Clear
https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299
Resources:
https://www.velocityaccess.io/
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Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.
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