#117 Lotus: Hardware Hail Mary

Pilot Programs

Dhaval Patel's pilot programs are crucial for the development of his smart ring technology. He has secured verbal commitments from organizations like Veterans Affairs and the state of New York, aiming for 10,000 units, although no pilots have started yet 1. Elizabeth Yin and Neal Bloom highlight the importance of clarity in communication, suggesting that Dhaval should emphasize these as verbal commitments rather than active pilots 1.

When you came and you said you had 14 pilots, I think the nuance, I would say is we have 14 verbal commitments on pilots.

--- Elizabeth Yin

Dhaval acknowledges this feedback and plans to refine his approach, ensuring transparency with potential investors and partners 1.

   

Revenue Strategy

Dhaval's revenue strategy involves targeting senior living organizations, with a focus on piloting his smart ring technology at United Church Homes, a major player in the sector 2. Charles Hudson and Elizabeth Yin express concerns about the high valuation and the need for a seasoned sales team to navigate complex contracts with government and Medicare 2.

I think the valuation is a bit pricey. I think the 14 is too frothy for this business model and where you are.

--- Elizabeth Yin

Despite these challenges, Dhaval remains optimistic about scaling his business and attracting the right talent to drive growth 2.

   

Payroll Milestone

Initiating payroll marks a significant milestone for Dhaval Patel's startup, as he prepares to pay his team for the first time. The excitement is palpable as he plans to back pay employees for July, with the first checks expected to go out by August 1 3. Josh Muccio notes the significance of this step, highlighting the tangible progress in Dhaval's journey 3.

It's getting real, Dufal.

--- Josh Muccio

This development underscores the startup's readiness to move forward with its pilot programs and business operations 3.