Failure is an option: Lessons from Livible Founder, Terry Drayton

Terry Drayton has had two start-ups stonewashed by crashes. But that didn’t discourage him. He’s back with a new one, Livible, and this time he wants to disrupt the market with his on-demand storage service.

Terry Drayton
Terry Drayton, founder of Livible.

Products flop. Ideas don’t pan out. Hires turn toxic. Companies go bankrupt.

Most businesses fail, and for those that succeed, an array of elements of everyday operations falls flat on its face. Every failure can be traced back to a founder, especially in a small company.

But there’s no avoiding the screw-ups, so serial entrepreneurs learn to use the mishaps to their advantage.

“Something you learn as an entrepreneur is resiliency, and turning failures into learning experiences,” Verschueren said. “Sometimes people are serial entrepreneurs not because one startup is a huge success and they want more, but because one fizzles out and they just start again.”

Those who are able to turn mistakes into learning experiences often are those who don’t hold their own ideas sacred, and let the end user of their product or service determine what works and what doesn’t.

“Accept the fact that if you put something out there, and people don’t like it, that’s the stuff you listen to,” Terry Drayton said. “Customers are smart as hell. I’ve had many of my favorite ideas crash and burn when we put it on the market, and that’s fine. Try it, and if it works, keep it. If it doesn’t work, try something else.”

This post originally appeared on 425business.com
7 Defining Characteristics of Serial Entrepreneurs
By Jake Bullinger on September 23 2015

[Limited Time Offer EXTENDED] Undeck the Halls for only $29

From now through Sunday January 8th we’ll pickup a box of your holiday decorations and store it for you until you need it back next November or December for only $29! It’s no problem if you have more than one box or other holiday items like a tree stand or life-size nutcracker. We’ll give you the same sweet deal on as many items as you need stored!

It’s fun to decorate your halls for the holidays – putting up the lights, family pictures, the wreath, the tree with ornaments and tinsel. That is what makes this such a beautiful time of the year!

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Unboxing on-demand storage service: What’s the deal?

On-demand storage is a modern and realistic solution to solve all the storage problems without any hassles. The service, as the name suggest, is a way for you to store your items in a safe place and get them delivered to you whenever you need them back. The service includes the pick-up of items from your doorstep, where it proceeds to be stored safely with the on-demand storage provider. Whenever you need your items back, the service will have it delivered to the address you ask them to, within a short period of time. On-demand storage is storage logistics made easier for everyone. 

on-demand storage

How does on-demand storage service work?

The working model of on-demand storage services is fairly simple. The process involves of the following steps:

  • A pickup is scheduled by you, i.e. the customer, with the pickup address and timing being scheduled according to the mutual convenience of the service and the client.
  • None of the hard work to move your items has to be done, as the service usually picks up the items from your doorstep according to the scheduled pickup time and place.
  • Once you need your items back, your items are redelivered back to you. The redelivery process is fast, with you getting back your items within a day or two of the request.

On demand storage – costs involved

The pricing of the on-demand storage service is based upon two factors:

  1. The volume of the item being stored
  2. The duration for which the item is to be stored

Per these two parameters, the storage cost is decided. Naturally, the cost of the on-demand storage service goes up as the size of the item and the duration of stay increases. However, many on-demand storage services provide cheaper pricing plans for customers looking to use the service for bulk items. As the number of storage items increase, the cost of the service significantly lowers.

Who is it for?

On demand storage service is an ideal solution for individuals as well as businesses. For individuals who do not have enough space at their home to store one of their beloved belonging, this service is an ideal choice to store the item. Until it is needed again, it can be stored safely with the service. For businesses, the service provides a much needed relief from the trouble of storing items for their inventory.

For individuals and businesses alike, on-demand storage is a blessing in disguise!

Like other growing full-service storage providers, Livible stores customers’ belongings for them at secure facilities, gives them an app to track what they have in storage and will pick up or deliver items on demand.

“Long term, we think on-demand will completely replace self-storage, just like mobile phones replaced pay phones, and Netflix and Xfinity replaced Blockbuster,” says Terry Drayton, Livible CEO and Founder.

“Customers see that it’s easy and friendly and less expensive. We think it’ll become, overwhelmingly, the way for the (self-storage) business to go.” Drayton said.

Do you need storage for your personal and household items? Livible is easier, more convenient and saves you 15% when compared to self-storage. We do all the work so you don’t have to!

Inside Livible: The Evolving Nature of Full-Service Storage

Customer demand drove Terry Drayton to change the name of his pick-up-and-delivery storage company from “Storrage” to “Livible” about one year ago.

But over the last three years since the company started, a lot more has changed besides the name.

“Customers asked us to help them with much more than storage, so Storrage wasn’t a good fit anymore,” said Drayton, founder/CEO and a Seattle-based serial entrepreneur perhaps best known for founding HomeGrocer.com. “We needed a brand that works for all the ecosystem services – donations, moving, sharing, selling and renting.”

Livible operates in Seattle and Portland, OR, with 10 employees and four vehicles, and Drayton plans a national rollout in the top 40 U.S. metropolitan areas in 2017. He’s in the midst of a venture financing round, which has raised $4 million and aims to top out between $10 million and $20 million.

Terry Drayton, founder of Livible.
Terry Drayton, founder of Livible.

Changing the name

Like other burgeoning full-service storage providers, Drayton’s firm doesn’t rent out storage units. Instead, Livible stores customers’ belongings for them at secure facilities, gives them an app to track what they have in storage and will pick up or deliver items on demand.

Drayton, 56, realized he needed a better company name than Storrage to represent the company’s growing list of services. He and his wife, Beth, created “Livible.” He tested it on customers and prospects, and they favored “Livible” six to one.

Those odd spellings? They’re hip these days, and also enable Drayton to own the trademarks.

Livible allows customers to manage their stored possessions via a mobile app.
Livible allows customers to manage their stored possessions via a mobile app.

Way of the future

Meanwhile, Drayton –- founder of such companies as Votocracy LLC, Rainier Software Inc. and Arena Group Inc., and a fan of customer logistics — makes a surprising prediction about the future of the self-storage industry.

“I’ve been pretty good at seeing what’s coming,” he said. “Long term, we think on-demand will completely supplant self-storage, just like mobile phones replaced pay phones, and Netflix and Xfinity replaced Blockbuster.

“Customers see that it’s easy and friendly and less expensive. We think it’ll become, overwhelmingly, the way for the (self-storage) business to go.” Drayton said.

Target customers

Drayton won’t reveal the total number of Livible customers, but said there are “thousands” in the two cities. Many are baby boomers that are looking to downsize, people that need to store items to enable their real estate agent to put on a staging, or millennials that not only don’t own a car, but may never have learned to drive. Apartment and townhome residents are customers, too.

“Half of our urban customers live in the downtown core and don’t have vehicles,” Drayton said. “Others might have a car, but they don’t want to use it; they don’t want to do the work.”

Drayton expects to complete the funding round this fall and said he has, combined, raised between $500 million and $600 million for his previous companies. Jeff Wilke, a CEO at Amazon who ranks second only to Jeff Bezos, is among the current investors.

Customers only pay for the space they use, either by the item or by the cubic foot.
Customers only pay for the space they use, either by the item or by the cubic foot.

Pricing matters

Drayton considered franchising when Storrage was around. But he won’t franchise Livible locations.

Unlike Storrage, Livible will handle larger items. “Originally, we were selling only boxes, and would take a bike or skis, but not furniture or appliances,” Drayton said. “But now we’re picking up everything.”

One differentiation from self-storage, where customers pay a standard price per unit size no matter how much space they really need, is that Livible charges people only for the space used. “We give you exactly the space you need,” Drayton said. “You can’t do that in the self-storage world.”

Pickup or delivery is $9 plus a per-item handling fee of $1 to $9, depending on its size and weight.

Customers that store 99 cubic feet or less are billed $1 per item. For 100 cubic feet or more, it’s billed by the cubic foot. For example, 79 cents per cubic foot for 100 to 199 items (www.livible.com/pricing).

Give the customer what they want

Customer demand also has Livible offering additional services, such as donating, sharing, selling and tossing out of belongings. The company may add renting and swapping later on.

For example, Livible has a national partnership with Value Village for the donated items, and will handle the donation for free.

Want to share your camping gear with friends or family? Livible will handle that, as well as sell the items you designate.

“We’ll go down the path of adding services,” Drayton said. “The very first customer we picked up from had stuff to donate, and would we take it for them. The obvious answer is always ‘Yes.’”

This post originally appeared on Sparefoot.com.
Inside Livible: The Evolving Nature of Full-Service Storage
by Bruce Goldberg
September 26, 2016

Save on storage with Livible!

Save on storage with Livible! Livible is different from traditional self storage because you can pay per box, per month. Livible is easier, more convenient, and saves you 15% when compared to self-storage.

Save on storage

You don’t have to rent an entire locker, and Livible would pickup and drop off their boxes whenever customers wanted. With this service, you can now have more choices for what happens with your boxes once Livible carries them off.

For instance, if you have a kayak in storage you want to loan to a friend, Livible will drop it off there and pick it back up. If you want to sell something, you just tell Livible what price you’re looking for and the startup will post it to Craigslist, handle the exchange and collect the money for you. Livible will also help you rent, donate or even trade items you’re keeping in storage.

The idea is to do whatever it takes to help users get unused items out of their houses.

One differentiation from self-storage, where customers pay a standard price per unit size no matter how much space they really need, is that Livible charges people only for the space used. “We give you exactly the space you need,” Drayton said. “You can’t do that in the self-storage world.”

See how much you’ll save on storage compared to traditional storage with our Savings Estimator.

This Holiday Season Give The Gift of Space

This Holiday Season Give The Gift of Space 

gift_49       gift_99

What do you give the person who has everything already? A place to store their items! This year, Livible is offering “The Gift of Space” as a present to your loved ones. It comes in two different sizes, a $49 package for the person with a few items and the $99 package for the person who has more items.

The $49 package allows the recipient to store 20 cubic feet for 6 months (examples of 20 cubic feet of items: a chest and two pieces of luggage; five medium boxes; a paddleboard or a car carrier; a double mattress and bedframe, etc.) and the $99 package allows the recipient to store 50 cubic feet for 6 months (examples of 50 cubic feet of items: a loveseat, two medium boxes and artwork; a bike, tent and two sleeping bags; a kayak and two sets of golf clubs; a coffee table, carpet, upholstered chair and table lamp, etc.). Recipients must be in our Seattle service area in these zip codes.

Alongside these packages, Livible is connecting with local Seattle companies that are near and dear to our hearts to offer you a bonus gift for your loved one. Everyday until Christmas Eve, we will be offering a gift card to a Seattle company that is worth roughly $50. This could be a local Alki spot that our staff loves or a gift card to a international company that had its start in Seattle.

Today’s Prize: $50 Eddie Bauer Gift Card

Past prizes:

  • December 18: $50 Microsoft Gift Card
  • December 17: $50 REI Gift Card
  • December 16: $50 Cinerama Gift Card
  • December 15: $50 Bartell’s Gift Card
  • December 14: $50 Costco Gift Card
  • December 13: $50 Elliot Bay Bookstore Gift Card
  • December 12: $50 Dick’s Drive In Gift Card
  • December 11: $50 Pyramid Ale House Gift Card
  • December 10: $50 Salty’s Gift Card
  • December 9: $50 Mariner’s Team Shop Gift Card
  • December 8: $50 The Ram Gift Card
  • December 7: $50 Filson Gift Card
  • December 6: $50 Ivar’s Gift Card
  • December 5: $50 Space Needle Gift Card
  • December 4: $50 Seahawks Pro Shop Gift Card
  • December 3: $50 Molly Moon Gift Card
  • December 2: $50 Woodland Park Zoo Gift Card
  • December 1: $50 Top Pot Doughnuts Gift Card
  • November 30: $50 Nordstrom Gift Card
  • November 29: $50 Museum of Pop Culture (formerly EMP) Gift Card
  • November 28: $50 Amazon Gift Card
  • November 27: $50 Sounders FC Gift Card
  • November 26: 2 Tickets to The Seattle Great Wheel
  • November 25: $50 Husky or Cougar Gift Card
Everyday we will be announcing the new local company in the comments below, so you can give the “Gift of Space” and a gift card to your loved ones!

Decluttering: Introducing our Livible Ecosystem

Livible is expanding our on demand services and partners to make it easy to do whatever you need with your household items. Introducing the Livible Ecosystem.

Decluttering. No one likes to do it and it’s been on your to-do list for months. One of life’s most satisfying feelings can be found in a freshly organized space, lifting a weight off your shoulders you never knew you had!

When you are decluttering your space, we know just how tedious and overwhelming things can be, so we came up with a few ways to help get you started. We believe that living well begins with a healthy environment, that includes your home and workspace, which is why we’ve created the Livible Ecosystem!

Our Ecosystem is made up of our fantastic customers, local businesses, community partners and more to help you re-organize your space. Let’s get you started today:

Organizing help!

Do you need help packing or sorting through your things? TaskRabbit is an awesome company that helps regular people get through all kinds of tasks and activities with the help of their skilled employees. Big or small, TaskRabbit does it all. To make it even cooler, you name the price and don’t pay until it’s done – TaskRabbit staff are the best! Neighbours helping neighbours, learn more here.

Fix it or throw it away?

That is the question! When searching through the back of your closet or in the garage, you’re sure to find those not-quite-functional items you just can’t throw away! A bike with a popped tire, expensive leather shoes with a worn sole or a shoulder bag with a broken strap, it’s time to take action! There are loads of great repair companies in Seattle to choose from so we’ve narrowed them down with our own list to help you out. Check them out here.

Donate it!

One man’s trash is another man’s treasure – so stop throwing it away! We know you’re busy, stressed and pushed for time, and donating or recycling is an extra step you’re not always willing to take. We’re confident that our newest partners will make life easier and help you to be more environmentally conscious. Our friends at Seattle’s Value Village are accepting your donations with the help of Storrage. During any scheduled delivery or pickup, you can donate straight to Value Village. No car, no extra time needed – it’s that easy! Living Green Technology takes old electronics and safely recycles and disposes of the parts with our Earth in mind.

Remember, before throwing things out you can repair, share, donate, rent, sell, or organize and of course store!

We are looking for great partners! Please contact us at ecosystem@livible.com.

 

Terry Drayton Talks About Self-Storage Disruptive Innovation

Livible CEO and Founder, Terry Drayton Talks About Self-Storage Disruptive Innovation at the Self-Storage Association, Spring Show 2016

Hello, my name is Terry Drayton and I’m the founder & CEO of Livible. This is my 9th startup. I’ve raised over half a billion dollars for them and created a number of successful, world class businesses. All were logistics and technology innovators.

Livible provides on demand storage, also known as valet storage or full service storage. We’re a classic disruptor. Simpler to use via 2 minutes on our app. More convenient as we go right to the customers’ door. Already cheaper for urban customers with smaller needs. And long term we’ll be cheaper for all customers due to warehouse economics.

So are we a threat to self-storage? Absolutely. Some of the smartest people in your industry see us as Netflix and you as Blockbuster. What you may not know is that Blockbuster blew several early opportunities to work with Netflix. At the time Blockbuster was recording record profits and very complacent, actually dismissive, of upstarts. Does that sound familiar? A few years later they were bankrupt and Netflix was worth billions.

A more optimistic analogy is AT&T. They were dominant in fixed line and pay phones but saw mobile coming and moved aggressively to embrace it. Now they are all about mobile with data their newest growth area. And they are still worth
billions.

So we’re a threat but we’re an even bigger opportunity for smart incumbents! Let’s start by asking you one question: Are you in the storage business or in the self-storage business?

If you answer the former then we have a lot to talk about. And, unlike the other on demand players, we respect your businesses and want to partner with you to help you participate in the coming disruption. Our model is very straight forward. First, you start offering both self-storage and on demand storage to all your prospects and customers. Second, we store everything at your facilities. Third, we operate the logistics and provide all the technology. It’s a win-win!

 

On-Demand Storage Versus Traditional Self Storage – Livible Releases Recent Survey Results

Livible Releases Recent Survey Results on On-Demand Storage Versus Traditional Self Storage

With 50,000+ self-storage facilities in the United States it
is pretty clear that Americans love having ample storage space at affordable rates. But before investing, developers may want to review a recent consumer survey conducted by Livible, an on-demand storage company. The nationwide survey asked consumers what they wanted when it came to self-storage.

The survey comes in response to some interesting performance
in the self-storage industry over the last decade. Investors were surprised
with how well the industry performed during the economic downturn. That surprise increased as the industry continued to perform well as the economy improved. Now developers are not just looking to provide consumers with more storage space—they are trying to give consumers exactly what they want.

“The self-storage industry is booming — with record revenues
and a true ‘space race’ to build more facilities to meet the seemingly
insatiable consumer demand,” Terry Drayton, CEO of Livible, said in a recent press release. Thus, the nationwide survey. And, many of the results are not surprising.

According to the survey, there is an ongoing need for more self-storage. Of the respondents. 55 percent of them said they wished they had more storage space in general, and 17 percent said they wished they had a whole lot more.

When asked whether they would prefer traditional self-storage or on-demand storage, the majority responded in favor of on-demand. This is a new trend, as Livible had once before conducted this survey and at the time found 42 percent of respondents preferred on-demand; this time that number was 63 percent.

On-demand storage has changed the self-storage landscape a
bit as it allows for the storage company to pick up the required storage,
rather than for the consumer to deliver it to a personalized, self-storage
unit. Most survey respondents said the convenience of on-demand and time saved was a primary reason (62 percent). Many liked not having to transport what they want stored (42 percent).

“What our latest survey reveals is the rapidly growing preference and need for more convenient on-demand storage alternatives. Millennials and downsizing boomers — who are increasingly living urban lifestyles — are driving this,” Drayton explained.

As convincing as the survey results may be, it may help to
have more details before drawing conclusions. The sample size was 522
respondents over a three-day span in January when the survey was made
available. Livible did have a good cross section of the population represented as the age range was between 18-65 with an equal split between men and women. Most lived in single family houses (56 percent) with the rest calling an apartment home (44 percent). Only three tenths of a percent had ever used on-demand self-storage before.

Respondents were all located in cities that currently have on-demand self-storage available (New York City, Washington D.C., Chicago, San Francisco, Seattle and Los Angeles).

Livible Feature Update: Pay for Livible with PayPal

Pay for Livible with PayPal
Pay for Livible with PayPal.

Update alert! iPhone, iPad, Android and web customers can now pay for Livible with PayPal!

Simply tap “Payment” then choose “PayPal” then follow the prompts to confirm you’d like to use PayPal and login to your account.

Trust you enjoy this new feature of paying with Paypal. Expect more as we continue to roll out handy features to make your Livible experience more wonderful!