askeladden · askeladden.co 3 «the navy revealed the embryo of an electronic computer today that...

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askeladden.co

Usexy bransjer er sexy for oss

9 t h A p r i l 2 0 1 9

M a r t i n S c h ü t tm a r t i n @ a s k e l a d d e n . c o | 9 5 0 0 0 9 1 9

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«The Navy revealed the embryo of an electronic

computer today that it expects will be able to walk,

talk, see, write, reproduce itself and be conscious

of its existence. (...) the machine would be the

first device to think like the human brain.»

- New York Times

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«The Navy revealed the embryo of an electronic

computer today that it expects will be able to walk,

talk, see, write, reproduce itself and be conscious

of its existence. (...) the machine would be the

first device to think like the human brain.»

- New York Times

7th July, 1958

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Blockchain Artificial intelligence Augmented reality

Virtual Reality Internet of things Market place Aggregators

Big Data Cash burn FOMO Mixed reality Digitalization

Robotic process automation 3D printing Smart Factory

Industry 4.0 Machine learning Deep learning






























































Virtual Reality Internet of things Gamification Market place

Aggregators Marketing Automation Big Data Cash burn

Digitalization Mixed reality Omnichannel

Robotic process automation Startups IWWIWWIWI 3D printing Smart Factory

Influencers Algorithms Industry 4.0 Machine learning

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5Source: Retriever

78 72 62 61

46

100 110 115

149

186 195

2013 2014 2015 2016 2017 2018

Profits / value creation Buzzwords

Verdiskaping: "verdiskaping" "lønnsomhet" "fokus på lønnsomhet" "profitabel" "ble profitabel" "positiv kontantstrøm" "positiv ebitda" "sterk lønnsomhet" "profitt" "ebitda" "positiv margin" "positivt dekningsbidrag" "overskudd" "gikk i pluss»

Ny teknologi: "ny teknologi" "machine learning" "artificial intelligence" "blockchain" "internet of things" "big data" "cash burn" "kunstig intelligens"

Occurrences of words related to buzzwords in Norwegian newspapers

2013-2018, indexed

- 54%

+95%

askeladden.co

6Source: Retriever

78 72 62 61

46

100 110 115

149

186 195

2013 2014 2015 2016 2017 2018

Profits / value creation Buzzwords

Verdiskaping: "verdiskaping" "lønnsomhet" "fokus på lønnsomhet" "profitabel" "ble profitabel" "positiv kontantstrøm" "positiv ebitda" "sterk lønnsomhet" "profitt" "ebitda" "positiv margin" "positivt dekningsbidrag" "overskudd" "gikk i pluss»

Ny teknologi: "ny teknologi" "machine learning" "artificial intelligence" "blockchain" "internet of things" "big data" "cash burn" "kunstig intelligens"

Occurrences of words related to buzzwords vs value creation Norwegian newspapers

2013-2018, indexed

+95%

- 54%

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Society deception Market vacuum

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Society deception Market vacuum

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30%

35%

40%

45%

50%

55%

60%

65%

1970

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2014

2015

2016

2017

Fraction spent on goods

SPEND ON GOODS AS SHARE OF WALLET IS DECLINING

Sources: Virke, SSB | Note: 1) Current prices

H O U S E H O L D S P E N D 1 ) : G O O D S V S S E R V I C E S

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A N O N G O I N G R E TA I L A P O C A LY P S E1 O F 1 0 S T O R E S H AV E VA N I S H E D L A S T D E C A D E

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30%

35%

40%

45%

50%

55%

60%

65%

1970

1971

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2009

2010

2011

2012

2013

2014

2015

2016

2017

Fraction spent on goods

SPEND ON GOODS AS SHARE OF WALLET IS DECLINING



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30%

35%

40%

45%

50%

55%

60%

65%

1970

1971

1972

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2011

2012

2013

2014

2015

2016

2017

Fraction spent on goods Fraction spent on services

SPEND ON SERVICE HAS SURPASSED GOODS IN NORWEGIAN RETAIL


2013Norwegian

households spend more on services

than goods


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Industry Market Share Top 5 Players Example Companies

Groceries

Sports

Discount Variety Store

Hardware Store

Kiosks

Electronics

Furniture

Shoes

Clothing

H O W E V E R , M O S T S E R V I C E A N D E N T E R TA I N M E N T I N D U S T R I E S A R E Y E T T O B E P R O F E S S I O N A L I Z E D

G O O D S

35%

75%

78%

85%

89%

89%

90%

94%

100%

Source: Proff ForvaltNotes: 1) Not assessed in detail, but analysis suggest a market share of 5-15% for top 5 companies

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Funeral services

Massage

Dental health

Easy entertainment

Tourism

Beauty

Hairdressing

Pizza fast casual

Primary health


Groceries

Sports

Discount Variety Store

Hardware Store

Kiosks

Electronics

Furniture

Shoes

Clothing

H O W E V E R , M O S T S E R V I C E A N D E N T E R TA I N M E N T I N D U S T R I E S A R E Y E T T O B E P R O F E S S I O N A L I Z E D

Source: Proff ForvaltNotes: 1) Not assessed in detail, but analysis suggest a market share of 5-15% for top 5 companies

G O O D S S E R V I C E S , F O O D , E N T E R TA I N M E N T

1)

35%

75%

78%

85%

89%

89%

90%

94%

100%

2%

2%

6%

10%

10%

10%

12%

15%

24%

1)

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L A C K O F P R O F E S S I O N A L I S M I S E V I D E N T I N T H E M E D I A

Source: Press search

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Attract and assist top talent teams

Assess and identify attractive industries

Build successful fast growing companies

100+

industries per year

3-5

companies per year

A S K E L A D D E N & C O B U I L D S A N D S C A L E S C O M PA N I E S

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Large enough market: Existing revenue >1 bnNOK per year in Norway

Limited competition: No or few large professional players

Unmet customer demand: Potential to fix a real customer pain




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IngridDental




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CEOs & co-founders

Askeladden & Co

Advisors & partners

TimMarketing

AdamFood exp.

GeirrMarketing

Per MartinFuneral exp.

PerFuneral exp.

RuneMarketing

JørgenMed. exp.

MagnusMarketing

JanPR

IdaMed. exp.

DanielReal estate

PaulusGrafisk

LinnA. Partner

PetterA. Partner

HåkonD’ment

TBDD’ment

MarieMarketing

BrorIntern

MartinIntern

MartinPartner

Karl-AxelPartner

NicolaiPartner

AndreasPartner

LassePartner

HaraldPartner

MartineAccounting

AbrehamAccounting

LinnCoaching

KristianCutters

KristianPaint’n sip

HenrikVerd

MieBeauty

TBDPizza

TBDSqueeze

AinaCutters

ErlendCutters

BårdCutters

OleDr.Dropin

Management

AndreasCutters

DanielDr.Dropin

ErikSqueeze

IngridDental

TBDEntertainment

PålPaint’n sip

AnitaCutters

SiriCutters

KristofferDr.Dropin

VeronikaDr.Dropin

The purpose of the Askeladden model is to provide easy access to world class cross-

functional support to our co-founders

TBDBuilding

EbbaCuddling

JoGen. adv.

TorsteinReklame

EivindReklame

MortenGen. adv.




Operations, recruiting, HR, customer service

Finance, accounting, legal

Strategy, business development. analysis

Marketing, PR, sales, advertising, design,

Real estate, interior, construction

Programming, systems, hardware

Industry experts

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May 2016 January 2017 June 2017 December 2017 July 2018 August 2018 June 2019 August+ 2019

[WIP]BEAUTY COMPANY

[WIP]DENTAL COMPANY

[WIP]PIZZA COMPANY

>500 happy employees

>1.300.000happy customers

>320MNOK revenue

>70 locations

[WIP]ENTERTAINMENT COMPANY




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Norway’s largest hairdresser chain

60 locations (90+ end of 2019)

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Norway’s largest primary medical chain



First of manyentertainment concepts

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2 counties(5+ end of 2019)

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1. You need industry experience

2. You need to invent something new

3. You need a broad offering

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«I denne bransjen funker alt perfekt»

- Leder for anonymisert Virke-avdeling

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WHY

Why are we working

on this?

Why are we buying

from that supplier?

Why are we pricing

our service at X?

Why is the

website

blue?

Why do we use

so much $ on

digiatal

marketing?

Why am I in this meeting?

Why are we

offering this

service?

Why haven’t we tried

that sales channel?

Why do we have

that step in the

customer journey?

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Funeral agent?

Hairdressers? [WIP]BEAUTY SERVICES

Beautician?

Doctors?[WIP]DENTAL SERVICES

Dentist?

Painter?[WIP]FAST CASUAL PIZZA

Pizza chef?

Masseuse?[WIP]ENTERTAINMENT

Actor?

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THERE’S A DIFFERENCE BETWEEN INVENTIONS AND INNOVATION

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Source: CB Insights

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«Most everything I’ve done I’ve copied

from somebody someone else»

– Sam Walton, founder of Wall Mart

«Innovation that adds value is useful, but copying

what already works is usually more practical»

– Jorge Lemann, co-founder 3G Capital

Source: Made in America (book) (Walton), The 3G Way: Dream, People & Culture (book) (Lemann)

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Overchoice is a cognitive process in which people have a difficult time

making a decision when faced with many options, partly because the

risk of making a sub-optimal choice is higher with more alternatives

Source: Wikipedia

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1. You don’t need industry experience

2. You don’t need to invent something new

3. You don’t need a broad offering

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Usexy bransjer er sexy for oss

9 t h A p r i l 2 0 1 9

M a r t i n S c h ü t tm a r t i n @ a s k e l a d d e n . c o | 9 5 0 0 0 9 1 9

askeladden · askeladden.co 3 «the navy revealed the embryo of an electronic computer today that...

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