Introducing Blu Atwood from Textual
Q: Can you introduce yourself and your startup?
A: Absolutely. My name is Blu Atwood, and I’m the CEO and co-founder of Textual. Our platform is a SaaS service, specializing as a commerce enablement platform aimed at revolutionizing mobile commerce. We’ve developed a unique text-to-buy feature, allowing brands to sell products directly through text messages. Customers simply need to reply “yes” to make a purchase. This approach stems from my vision that current brand text messaging strategies, which often rely on promotional blasts, are ineffective and unwelcome. I believe that when used thoughtfully and properly, text messaging can be a powerful tool for creating delightful, engaging, and revenue-boosting mobile experiences. Four years into this journey, we’ve seen considerable success and have garnered support from many who share our vision.
Q: What inspired you to create Textual?
A: Indeed, my journey into creating Textual is deeply rooted in my experiences and a bit of frustration with the status quo. I come from a background of 12 years in ad tech, being an original dot-com veteran since 1999 in New York. Those were exhilarating times, but after transitioning to martech for 14 years and eventually founding a successful e-commerce business, I saw firsthand the evolution and impact of digital communication. An early adopter of cloud communications, I integrated these technologies into my e-commerce platform, witnessing a significant shift from calls to text messages for customer interactions. This shift highlighted text messaging as a preferred communication channel for many.
My experiments with SMS marketing, however, were disappointing. The results didn’t match the channel’s potential, which was surprising given the immediacy and ubiquity of text messaging. The issue, I realized, was a lack of innovation; most were merely transferring email marketing tactics to SMS, ignoring the unique opportunities of mobile devices. This realization sparked my vision for Textual. I saw the vast potential for text to reduce mobile commerce friction and create a seamless e-commerce experience through what I term conversational commerce. By leveraging text messaging, we could address and solve these challenges, offering a comprehensive, engaging mobile commerce solution. This combination of recognizing pain points in mobile commerce and the misuse of text messaging fueled my passion and led to the creation of Textual.
Why TinySeed?
Q: How did you get involved with TinySeed?
A: My introduction to TinySeed was quite serendipitous. I stumbled upon Rob Walling’s YouTube content, which resonated with me deeply. Inspired by his insights, I applied to TinySeed, and they saw potential in what we were doing at Textual and decided to invest. Joining TinySeed was a pivotal moment for us. Rob Walling, Einar Vollset, and their team are incredibly grounded and knowledgeable, especially in the realm of bootstrapped SaaS entrepreneurship, which aligns closely with my own philosophy towards building a business.
However, as our journey progressed, we also joined Techstars LA due to the need for a different pace of growth, marking a significant shift from bootstrapping to focusing on raising venture capital. This transition introduced a level of cognitive dissonance for me, as I find myself drawn to both models for different reasons. While I deeply appreciate the bootstrap philosophy championed by TinySeed, the realities of our product development and market demands sometimes necessitate a more substantial initial investment. The challenge lies in balancing these philosophies, recognizing that the ideal approach depends on various factors such as the market, competition, and the product itself. Sometimes, despite the allure of starting lean with a Minimum Viable Product (MVP), the scope of what we’re trying to build requires a more elaborate and extensive foundation, which can be challenging to achieve on a limited budget without sacrificing valuable time.
How a Founder Gets In
Q: Can you describe the TinySeed application process?
A: The application process for TinySeed was surprisingly straightforward and not too time-consuming. I believe it took us a couple of hours at most to complete, possibly even less. While I don’t distinctly recall if a video submission was required, we definitely had to provide a pitch deck and answer around 10 to 20 questions about our startup. What stood out to me was how quickly TinySeed responded to our application. They showed a genuine interest in what we were building at Textual, which was very encouraging. The process was efficient and designed to understand the core of our business without being overly burdensome.
TinySeed’s Investment Structure
Q: Is receiving investment a standard part of TinySeed’s admission?
A: Yes, receiving investment is a core aspect of TinySeed’s accelerator program. Typically, they offer $100,000 in exchange for a 10% equity stake in the company. In our case, we engaged in some negotiations, but ultimately, the terms remained close to this standard structure. The relationship we’ve developed with TinySeed has been incredibly positive and beneficial for Textual. Their standard approach to investing not only provides startups with crucial early-stage funding but also establishes a partnership grounded in mutual growth and success.
Standout Moments in TinySeed’s Program
Q: Can you share any standout moments or key insights from TinySeed?
A: Absolutely, several aspects of TinySeed’s program made a significant impression on me. Firstly, the duration of the program itself is unique—it spans an entire year. This extended timeframe contrasts sharply with more traditional three-month accelerators, providing a much-needed space for deeper learning and application. For someone like me, with a business already in motion and personal commitments, the flexibility and virtual nature of TinySeed’s year-long program were invaluable.
The pacing allowed for a more thoughtful absorption of content, with workshops spaced out to once a month instead of overwhelming participants with multiple sessions daily. This setup gave us the time needed to integrate what we learned into our business effectively. The quality of speakers and the content of the workshops were exceptional, covering essential topics like go-to-market strategies, product positioning, and talent acquisition—crucial areas for SaaS entrepreneurs.
One workshop that particularly stood out to me was led by the author of “Obviously Awesome” (though her name escapes me at the moment). The speakers throughout the program were highly regarded authors and thought leaders, each bringing valuable insights to their sessions.
Another highlight was the strength of the community within TinySeed. While Techstars LA also fosters a vibrant community with tools like Slack and Notion for engagement, TinySeed’s community felt more tightly knit, with a focus on building deeper, more meaningful connections around topics of mutual interest. This sense of a close-knit community, where entrepreneurs can bond and grow together, was a standout feature of the program for me, setting it apart from other accelerator experiences.
Reflections on TinySeed’s Program Strengths
Q: Is there anything you found lacking or that could be improved in TinySeed’s program?
A: Honestly, from my perspective, TinySeed’s accelerator program felt close to perfect for my needs. What stood out to me was their hands-off, laissez-faire approach, which suited me perfectly given I was managing an existing business. This philosophy of “we’re here if you need us” without the pressure to constantly engage unless it was beneficial, allowed me to focus on what was most important for my company. The flexibility to join workshops as needed and the understanding that sometimes the best use of time is simply working on your business were aspects I deeply appreciated. TinySeed’s leadership, Rob Walling and Einar Vollset, provide substantial face time, offering their wealth of experience from investing in 180 companies. This access to seasoned guidance is invaluable for navigating the complexities of growing a startup. Additionally, the in-person conferences, like the recent one in Cancun, Mexico, offer unique opportunities for fun, education, and community building, though I regret missing it.
In essence, TinySeed aligns well with entrepreneurs who share their philosophical outlook on startup growth and management. If you’re looking for an accelerator that respects your independence while providing substantial support and community when you need it, TinySeed seems to be doing everything right. Their approach might not be for everyone, but for those in sync with their philosophy, it’s an exceptional fit.
Comparing TinySeed to Techstars LA
Q: How does TinySeed handle mentorship and equity with mentors?
A: In TinySeed, the mentorship provided is equity-free, which aligns well with the program’s overall supportive and pressure-free environment. This aspect is particularly beneficial given the year-long duration of the program, allowing for the development of meaningful relationships with mentors without the immediate exchange of equity. This approach contrasts with my experience at Techstars LA, where the mentorship process felt more rushed and less personal due to the compressed timeline and the expectation to quickly select and regularly meet with mentors from a large pool in a short period. Techstars LA employs a method called “mentor magic,” which involves meeting around 90 people in two weeks and choosing up to ten mentors for weekly meetings throughout the program. While this can be advantageous for some entrepreneurs, for me, it was overwhelming and not conducive to forming genuine connections. TinySeed’s more relaxed approach to mentorship—offering access to a network of potential mentors and facilitating introductions as requested—better suited my needs. This method allows relationships to naturally develop over time, without the pressure of formal commitments or the expectation of immediate equity exchange. In my experience, mentors and advisors are generally willing to provide initial advice and support without expectations, focusing first on relationship building and offering valuable insights to help your business grow.
Q: How would you compare TinySeed to Techstars LA and which would you choose?
A: The choice between TinySeed and Techstars LA—or any classic accelerator like Y Combinator—largely hinges on the entrepreneur’s goals and philosophical approach to their business. For entrepreneurs whose primary objective is to raise venture capital, accelerators like Techstars LA or Y Combinator are likely more aligned with their needs, as these programs are designed to prepare startups for VC funding rounds and rapid scale. On the other hand, if an entrepreneur’s goal is to build a sustainable business without the complexities and pressures of VC investment, TinySeed stands out as an ideal choice. It caters to those seeking to grow their business at their own pace, focusing on profitability and long-term viability rather than rapid scaling at all costs. Both TinySeed and Techstars LA (or similar programs) excel within their respective philosophies. The decision isn’t about which program is superior overall but rather which aligns better with the entrepreneur’s vision for their business and their personal aspirations. Each program offers a distinct path, and the best choice depends on the entrepreneur’s intentions and how they envision their journey unfolding.
The Impact of TinySeed on Textual’s Journey
Q: How has TinySeed impacted your entrepreneurial journey?
A: TinySeed has had a profound impact on both me and Textual for several reasons. First and foremost, the financial investment was crucial. At a critical point in our journey, when funds were depleting and time was of the essence, TinySeed’s investment provided us with the necessary runway to continue operations, pay our team, and maintain momentum. This financial support alone was invaluable.
Secondly, the psychological and emotional support TinySeed offers cannot be understated. The competitive and demanding nature of the SaaS industry requires not just technical skill but a resilient mindset, belief in oneself, and the stamina to persevere through challenges. TinySeed’s community and the optimistic, encouraging atmosphere they foster have been instrumental in reinforcing my belief in our mission and in my capabilities as an entrepreneur. This aspect of TinySeed, the cultivation of a supportive and motivated community, has been a significant source of encouragement.
Lastly, the educational resources and network TinySeed provides have been incredibly beneficial. Whether through Rob Walling’s informative YouTube content, the community discussions on practical topics like lead generation, or the broader educational workshops, the insights and advice I’ve received have been directly applicable and immensely helpful in navigating the complexities of growing a SaaS business. In summary, TinySeed’s contribution to our growth extends beyond just financial investment; it encompasses vital emotional support and practical education, all of which have been essential to our progress. Without TinySeed’s involvement, Textual’s current position and my development as an entrepreneur would undoubtedly be different.
Final Advice for Prospective TinySeed Applicants
Q: Do you have any advice for those considering applying to TinySeed or similar programs?
A: My key piece of advice to anyone considering applying to TinySeed—or any accelerator, for that matter—is to truly understand yourself and your business goals. If TinySeed’s value proposition and philosophical approach resonate with what you envision for your career and venture, then I encourage you to apply with full commitment. TinySeed is not just about the financial investment; it’s about becoming part of a community that shares a particular outlook on entrepreneurship and business growth. Should you be accepted, immerse yourself in this community. Engage with the culture, participate actively, and leverage the wealth of resources and support available. TinySeed offers a unique opportunity to grow your venture within a supportive and aligned environment, and making the most of this opportunity requires a clear alignment of your goals with their approach.