Picatic is a crowdfunding and traditional ticketing platform for the events space. Picatic empowers event organizers to create, manage and promote events of all sizes while encouraging organizers to choose their own service fees with FairPay. As the team explains it, “While other ticketing companies gouge event planners with fees, Picatic’s mission is to help anyone host successful events.” With no hidden fees to the event planner or ticket buyers, the price you pay for Picatic’s service is completely up to you.
About Jayesh Parmar, Picatic’s Co-founder & CEO
Jayesh is a serial entrepreneur with over 18 years of event industry experience. He’s a public speaker, a featured personality in the startup documentary DayJob, and was listed by Forbes as one of the world’s top 10 Tech Entrepreneurs Disrupting The Event Industry.
Jayesh doesn’t separate his personal life from his professional life, as for him, the two go hand-in-hand. He started his first company in 1998 and has been building businesses ever since. As CEO of Picatic, Jayesh oversees product, strategy and overall company vision.
He has received mentoring from The Canadian Technology Accelerators in San Francisco and New York City and was part of the 2012 Extreme Startups (now HIGHLINE) cohort in Toronto. Being immersed in Silicon Valley, Silicon Alley, and Toronto’s startup scene has provided Jayesh with a diverse understanding of what it means to be a part of the startup community. He is currently striving to cultivate an environment focused on cross-pollination, a pay-it-forward attitude, and a culture that invites the new. He’s always looking to change the “status quo” and push the edge. When Jayesh is not managing his businesses, he can be found playing hockey and getting beat on a squash court.
Q&A With Jayesh Parmar
What’s the most important lesson you learned as part of Extreme Startups/HIGHLINE?
There were a lot of important lessons, but one of the biggest lesson I learned from Extreme Startups/HIGHLINE is the importance of building a distributive product that people want and love… as fast as humanly possible.
The rollercoaster ride of building a startup product is best done by proving out assumptions through minimal product testing. Build a product fast and cheap, and hopefully you can grab market validation, because traction is your golden ticket — it beats everything else.
These base foundations were hammered into our core ideology when we went through Extreme Startups/HIGHLINE but none of the above can be accomplished without a talented team with a deep focus and drive to execute. Great lessons.
When did you know Picatic had legs?
There has not been one defining moment, but a few different stages of validation. The first feeling of validation occurred when people used our product that we had no connection to. It felt great knowing we had moved from friends and family to strangers using our product.
The next stage was when our users became brand advocates and started posting, tweeting and sharing our product. When our users started spreading the love, we started winning awards and started garnering major press acknowledgements… but the moment we reached our +33 net promoter score? Well, there is nothing better than your users telling you they love your product.
Also seeing money in the bank is pretty great validation.
How has your product evolved from MVP to now?
Our product has evolved in all aspects from core concept, pricing model, features and trends. We are consistently building, measuring and learning. We have amazing growth. I guess I will feel that we will be completely out of our MVP when we accomplish exponential growth trajectory.
Let’s talk failure. Is that something you feel you’ve ever experienced as a founder?
Every day. Ok, not every day, but failure is a big part of this game. When we don’t get a big client we were going after, that feels like failure. Not growing as big and as fast as we want can feel like failure, but the truth is that everything is a lesson.
As a team, we’re always fighting to win. We battle and debate key discussions and future directions — there’s no road map or easy button. Failure is the vehicle for us to learn from mistakes as they help us get to the next milestone faster. So when it comes to failing, it’s a pretty common experience.
Describe your company culture in 10 words or less.
NO EGO! F–k it! Ship it! and Turtle Tuesdays*!
*Everyone on the Picatic team has to wear something with a turtle on it every Tuesday. If they don’t, they have to buy coffee. It started as a joke, and is now a thing.
What are you focused on now?
There is a growing shift in the decentralization of events from third-party platforms and we’re very excited about solving this problem. Organizers’ needs are becoming more sophisticated, and so are their demands.
We are bullish in our endeavours, and 2015 is stacked with major launches in our product, which takes decentralization head-on and provides our users with greater power to make their events more successful. Stay tuned — big things are coming… but I can’t give our playbook away just yet.
Follow Jayesh on Twitter: @jayeshnews