Best Startup - California
Tom Naramore of D3 GOLF.
Tell us about yourself?
Born and raised in Northern California, married with two daughters. Software entrepreneur, visionary and world class team builder.
What do you think is the single biggest misconception people have when it comes to startups?
One big misconception is that you wont be successful unless you fall into a particular category. I think the best ideas are new, and don’t fit into any existing framework. So creating a new product and creating a new category that has yet to be measured is the big opportunity to make a difference.
What lessons has being an entrepreneur taught you?
Surround yourself with great people that are different than you. And, be persistent when networking. It’s amazing how many doors open if you have some connection. And, there’s always a connection.
If you could go back in time to when you first started your business, what piece of advice would you give yourself?
With this business, we’ve evolved over time as we’ve tested and grown to have a global vision. Hard to say what we could have done differently.
A lot of entrepreneurs find it difficult to balance their work and personal lives. How have you found that?
No, I don’t find it hard to balance work and personal lives with this business. As an empty nester, I have the time and energy to dedicate to the business and home life more than any other time in my life. Plus – since we are focused on games like Golf, it just makes the work more fun overall.
Give us a bit of an insight into the influences behind the company?
We have been influenced by our life experiences playing golf and having some fun bets on the side. That’s how it started. We were already betting on a weekly side game called Nassau, a dollar dollar dollar bet.
And someone challenged me to make an App for this game so we could play the game on two different courses. That casual challenge, got me thinking about how it could be done and how mobile technology with GPS and mobile payments, could actually create a unique convergence.
What do you think is your magic sauce? What sets you apart from the competitors?
That’s simple. We are unique today because we’ve created an easy, single sign on platform to power a whole new category of sports betting. We have proved it out with golf, and now our software can be licensed for any peer to peer challenge game.
How have you found sales so far? Do you have any lessons you could pass on to other founders in the same market as you just starting out?
At this point in our journey, we’ve been focused on software development more than sales. Ask me that question in 2023.
What do you consider are the main strengths of operating your business in California over other states in the US?
There is no state like California for innovative ideas. People recognize that our team and technology is born from the state that is known around the world as one of the most innovative places to work.
What (if any) are the weaknesses of operating your business within California?
Nothing yet, but ask me next year when our international expansion and revenue makes us think twice about the corporate tax structure.
We are currently suffering through a cost of living crisis. With California already being one of the most expensive states to live in, how has this impacted your business?
Our team is built from individuals who have been successful in California business. We also have added to our workforce with individuals from other states, and teams from other regions.
It is no secret that California is the birthplace of innovation. But that also makes it incredibly competitive. How have you found the competitive environment of California?
The benefits of being in a state that is the birthplace of innovation far outweighs the potential competition. We are still one of a kind after 4 years of development.
Have you considered moving your company to another state? If so, which state and why?
We anticipate a number of business units that may need to operate in different areas. Our golf business, for example, may benefit greater from being in Texas where the future home of the PGA is being built.
Where do you see your business in the next 5 years?
Everywhere! We see our technology as being a key element of every game. We’ve been told we will be the ‘intel inside’ for the gaming world.
And finally, if people want to get involved and learn more about your business, how should they do that?
For B2B interest, integrating wagering into your games, find us through LinkedIn. If you want to try the Golf App, we are available in both app stores.
For general inquiries, visit the website at D3golf.com
