Meural: From $0 To $5 Million+ Annual Sales In Under 900 Days

Dan entered the world of startups at age 20 starting with doing marketing consulting for some startups before he connected with Meural in 2015. Around this time lean Startup methods were becoming popularized by Eric Ries and inspired by the philosophies of Toyota manufacturing and Steve Blank. The term lean was originally coined by John Krafcik in his 1988 article, “Triumph of the Lean Production System”. Lean startup is a methodology for developing businesses and products, which aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning. These principles are part of the core of Silicon Alley Consulting’s values and helped Dan grow Meural from $0 to over $5 million annually in sales. Serendipitously, Dan and Eric Ries met in 2015 at the Lean Startup Conference and both of them eventually ended up angel investing in Meural.

The Lean Startup Cycle: Dan used customer development and UX research methods to determine Meural’s primary early adopters were photographers seeking to upload their photos, not art lovers, which was assumed at that time. Art lovers ended up coming later in the customer cycle. Through this early research and market analysis he conducted to find the company’s competitive position, customer pain points, and early adopter customer persona. Connecting with the early adopters fueled Meural’s word of mouth and led to major discoveries that allowed Meural to adjust key aspects of the product, marketing, and business.

Creating Powerful Brand Partnerships: Initially Dan focused on getting clear on who the early adopters were and who Meural should focus on reaching, once it was clear photography lovers were Meural’s early adopters, he created an affiliate network of photography product review bloggers who had followings in the space and helped Meural rapidly reach tens of thousands more people per month through the support of the affiliates such as well known photography blogger and photographer Ron Martinsen, creator of the RonMartBlog. Dan also organized Meural’s presence at and attended 16 industry trade shows, leading to partnerships with major brands like MGM International and Crestron. He also established Meural’s first reseller, Wellbots, an IoT/Smart Home e-commerce store. Through online resellers and affiliates, Meural generated consistent revenue and formed long-term partnerships with a lower cost of acquisition than retail. This traction helped attract larger retail partners like Adorama, Redbull, and Best Buy. 

Adjusting Product Prices and Selling the Vision: To scale in retail and distribution, Dan adjusted Meural’s product prices and sold the vision of Meural becoming a category leader to buyers. He worked with Meural’s marketing team to develop custom marketing/sales materials, contracts, and promotion schedules. Dan created scalable reseller/distributor contract terms and growth strategies, forming a network generating over $100K in sales volume per month in less than 18 months.

Globalizing Distribution: Starting with local retail stores like AC Gears and Adorama, Dan expanded Meural’s retail presence through a partnership with b8ta, which helped position Meural in larger retail chains like Best Buy. Dan executed a national retail sales training program, ensuring consistent messaging and proven methods for selling the product. He helped establish international distribution partnerships, enabling Meural to generate revenue in over 15 countries. 

The Value Add Approach: Dan approached his work with iterative, measurable experiments, passion for Meural’s mission, and adaptability in high-stake negotiations. He established partnerships, brought back learnings from the field to various teams, and referred artists and creators to the Meural platform. With a sales budget of less than $80,000, Dan’s reseller network generated over $1.6 million in revenue, creating a 20x return on investment and driving powerful results. 

Key Takeaways: Lean Startup methods can rapidly refine a viable business model and fuel growth. Trade shows and early reseller partnerships can lead to powerful brand collaborations. Adjusting product prices and selling the vision are essential for scaling in retail and distribution. Starting locally and expanding strategically can establish a strong international retail presence. A value add approach, with iterative experiments and passion for the mission, can drive significant returns on investment.

About Meural: Meural is a crafted digital canvas that allows you to display and control paintings, photography and digital art. Meural uses TrueArt technology, a proprietary blend of hardware, firmware, and software that renders images lifelike and textured.

The digital canvas integrates with the Meural website and mobile app, allowing everyone to access art that was once inaccessible. Meural is a platform that allows anyone to experience the wonder of art and human expression faster, easier and more affordably than ever.

Learn more at http://meural.com/