
Nick: Was VidStructor your first startup company?
Phil: No, this is actually an interesting story… The idea behind VidStructor grew from another business we started that revolved around online sports training, specifically baseball. We had this idea to take the entire training experience and to put it on the web making personalized video training available for any player or coach anywhere in the world and at anytime. Our players, in this baseball company, would pay to upload their own game or practice videos to one of our remote team of trainers for their video-based feedback. In 2009, we serviced over 15,000 player videos. This interactive video training process became the core principal of our on-demand software-as-a-service solution for online video training – “VidStructor.”
N: So, you were a player yourself?
P: I coached college baseball at Johns Hopkins University in Baltimore for 6 years. I was formerly a college ball player myself and my co-founders played minor league baseball. I studied business management and leadership strategies in college and simply combined that with my passion for sports training.
N: Are you an Orioles fan?
P: Nope. Actually I grew up near Philadelphia so I am one of those die hard Phillies fan.
N: What was the inspiration for the original startup?
P: Our passion for athlete development and video training, combined with the entrepreneurial bug. We wanted to be different than other sports training companies. Looking back on how we got to where we are today, I think we’ve done a great job being different and impactful considering we’ve transformed ourselves, developed and brought to market something that the entire sports and fitness world can benefit from.
N: When did the original startup launch?
P: Early 2008 we rolled out the original baseball training concept. We funded the site and reinvested out profits to foster growth. In 2009, we turned the business into a software-as-a-service because we saw a great market opportunity for other sports and fitness training businesses to benefit from what we developed. And today, it’s doing it.
N: Did you find the transition difficult from college baseball coach to entrepreneur?
P: I’ve always considered myself an entrepreneur. I like to say that I’m getting my MBA on the street. I’ve encountered so many challenges, and I’ve worked hard to make them into great opportunities. I was asked to speak to a bunch of MBA students at Johns Hopkins, and when asked, “What’s it like to be an entrepreneur?” I told them it’s like sitting in-front of a blank piece of paper and you need to write your masterpiece. It’s not easy and there’s going to be a bunch of twists and turns along the way. When I think about my experience coaching, I’ve found many similar traits needed to effectively manage a startup. Everything from managing people, to instilling confidence in your team, to executing in pressure situations. So I’m glad I’m able to leverage my coaching experience in this business.
N: So what’s next for VidStructor?
P: We just finished a round of capital at the end of last year and we have our new and very exciting version of our product coming out soon. Summer 2012 is going to mark our entry into sports medicine, orthopedics and athletic training.
N: Do you have any final words of advice for our readers?
P: I think anyone with experience will tell you that you need passion for what you’re doing to be successful. You have to stick with it when times get tough. Also, don’t just convince yourself about how great your idea is. Convince others. Get a lot of feedback before you jump in. Build it out yourself and try it before you launch. That’s what we did, and that experience is invaluable. Speed to market is important but also focus on being the best product out there too. Don’t be afraid to fail. Make mistakes, learn from them, and try it again. Finally, get your team vested with you, I believe that everyone should be an equity holder.
About the interviewer: Nick Daley works on consulting and business development in the San Francisco Bay area for Wasabi Ventures. His role is to identify prospective portfolio companies, opportunities, and entrepreneurs to bring into the WV incubation process.Once identified, Nick then manages, coaches, and supports the team.