Bright Lights, Big City…Smaller Screens

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There are two parts of Joshua Persky’s story that I think are inspiring to entrepreneurs.

The first is his ability (pardon the cliché) to transform lemons into lemonade. The first and perhaps biggest lemon for Persky is that two years ago he was working as a business valuation professional in New York. While there’s nothing inherently lemonesque about business valuation, two years ago wasn’t exactly the ideal time to be in the financial industry in New York.

The second part of his story is that he went to look for something and discovered that it wasn’t on the market. So, true to his entrepreneurial spirit, he invented it himself.

Because they are hard to ignore, and because he was interested, he had noticed Twitter feeds on gigantic electronic billboards from Times Square to the strip in Las Vegas. “I thought that Twitter belonged on small screens as well as large ones,” he recalls. When he couldn’t find a product that made that possible, he developed his prototype. Then he posted it on LinkedIn for feedback from others. A few months later he introduced Twisplays, an LED sign-software combo that interacts with Twitter and that has, since October, sold in the U.S., Brazil, Germany and the U.K.

The value of Twisplays, Persky says, is that it extends the traditional reach of Twitter to those who aren’t online.  “People can walk into a store and see the real-time Twitter stream,” he says. “Businesses can put out messages daily, or hourly, directing customers to aisle three, for example, or announcing happy hour specials. And they’re a great way to guide people to your booth at tradeshows and conferences. ” Twisplays can also distribute content via a network.

One of the guiding principles behind the development of Twisplays is Persky’s belief that while Twitter is a great tool, not everyone uses it.  “I don’t think it’s fair to assume that everyone is on Twitter,” he says, “so one of the valuable aspects of Twisplays is that it helps you make people who are not online aware that you’re building a community, which might encourage them to follow you once they see what you have to offer.”

Technology is at the heart of Twisplays as a product, but it’s also the backbone of the company. “I’m bootstrapping,” Persky says. “The first thing I did was put up a Web site and got on the social networks. I use technology for research, for reaching out and for customer relationship management (CRM).” The ability to collaborate online, Persky says, has been nothing short of transformational. “There’s a whole new economy where people are doing business with others around the world who they know only online,” he says.  “But they’re very, very solid relationships, and they save a lot of time and money by reducing the need for travel.”

Another aspect of online collaboration, Persky says, is that it’s given him several opportunities to barter, share and partner with others. “In the online business environment, working together is important,” he says. “One of the ways I manage costs is that I offer to display a Twitter feed selected by a company in exchange for getting into an important trade show or conference.”

Persky’s top tip for aspiring entrepreneurs is simple. “You have to be compelled,” he says. “Even though I spent 25 years working for someone else, I knew, deep down, that I was an entrepreneur.”  Once you’re compelled, develop. “Develop your product or service as much as you can so that you can generate revenue,” he says. “It’s very difficult to raise money on an idea alone, so do it the old-fashioned way: Put your prototype together, then get out there and sell it.”