Each week we highlight entrepreneurs in the cannabis industry for our viewers to learn more about the leading cannabis executives of our time. This week, we highlight Matt Mayberry, Co-Founder of TRYM.
Meet Matt Mayberry
Matt is the CEO & Co-Founder of TRYM, where he drives the company vision, strategy and growth. He has spent over eight years in the energy sector, and prior to co-founding TRYM, he was Director of Product Management at SunPower. Throughout his career, Matt has repeatedly conceptualized, developed, and successfully launched market-leading energy products. He has been featured in numerous media publications such as Greentech Media, SolarPro, and SolarBuilder. Matt earned his B.S. degree in computer science from Oregon State University.
In our interview with Matt Mayberry, we asked a variety of questions to learn more about TRYM, and what it takes to build a business in the cannabis industry!
DCN: Matt Mayberry, congratulations on being featured as this week’s entrepreneur of the week and for all that you do! Can you please share with our readers your elevator pitch for TRYM?
Matt Mayberry: TRYM offers innovative energy intelligence and management software for commercial cannabis cultivators. Whether your objective is to maximize profitability, remotely monitor your facility, or reduce unplanned downtime, TRYM allows you to effortlessly gain control over your operation with real-time energy insights, smart alerts, and automatic savings.
DCN: What ignited the spark in you to launch your business?
Matt Mayberry: I’ve always been interested in sustainability, technology, and cannabis. I’d kept my eye on the cannabis industry over the years, but when Prop 64 was on the California ballot, I started researching the market more seriously. I found that many of the problems that I’d spent the last several years solving in the commercial energy sector still existed for cannabis cultivators. I reached out to my friend and colleague Benjamin, and after some initial modeling and customer interviews, we realized we could build an energy product that would bring significant value to commercial growers.
DCN: When you finally decided that you wanted to launch a business in the cannabis industry, what was your experience like when telling your family and friends? Were they supportive?
Matt Mayberry: Everyone has been 100% supportive which has been encouraging. My wife has been my biggest champion and supported me quitting my Director level position at a tech company to build this business. In fact, she now works with us as our marketing manager.
DCN: How is your business positively helping the cannabis industry?
Matt Mayberry: It’s clear that as the industry grows margins will continue to compress for cultivators. Energy is their second largest expense after payroll, and due to their energy demand, indoor cultivation has quite a large carbon footprint. We aim to help growers reduce their energy spend and minimize their environmental impact.
DCN: As we go into 2018, what is one huge accomplishment that you or your team achieved last year that you would like to share with our readers?
Matt Mayberry: Since we’re just getting started our most significant accomplishment has been going all in on the business and getting our first installation.
DCN: What are some challenges you faced early on and how’d you beat them?
Matt Mayberry: Learning a new market is never easy. Coming from a background in product development I know the most important thing is to talk to as many customers as possible and identify their needs. The biggest challenge we’ve faced has been finding opportunities to interact with growers.
DCN: Did you raise capital to fund your business or what creative strategies did you use to execute on minimal cash flow?
Matt Mayberry: We’re bootstrapping right now but planning to raise a seed round in Q2.
DCN: What did you give up to get where you are today? What did you have to sacrifice?
Matt Mayberry: A secure job and some savings. Also my gym membership. 🙂
DCN: What is the best piece of advice you can give to others looking to launch a company in the cannabis industry?
Matt Mayberry: If you look at the space and see that you have expertise in an area that is underserved, then go for it.
DCN: What’s the hardest part of founding and running a startup?
Matt Mayberry: There’s a lot to be done. Prioritization is key.
DCN: Is there anything that surprised you about being an entrepreneur in the cannabis industry?
Matt Mayberry: The industry is young, and there’s much more interest from investors than what I saw in the energy space.
DCN: What would you say are the top three skills needed to be a successful entrepreneur?
Matt Mayberry: Passion, domain expertise, ability to operate on little sleep
DCN: Building a startup is a 24/7 hour job, how do you stay balanced?
Matt Mayberry: Running, snowboarding, family time
DCN: What book has inspired you the most? (OR What is your favorite book?)
DCN: Excluding yours, what company or business do you admire the most?
Matt Mayberry: Tesla
DCN: How can we as an industry continue to make a positive difference in society?
Matt Mayberry: I’m a firm believer in the benefits of the plant, but we need to ensure we deliver the plant in socially and environmentally responsible ways.
DCN: Is there anything we missed? What else would you like to share?
Matt Mayberry: With any startup, it’s more about the team than the idea, and we have a great team here. I feel lucky to be surrounded by such passionate and intelligent people every day.
DCN: Thank you, Matt, for sharing your story and offering such real and insightful advice! It was so great being able to feature you as this week’s entrepreneur of the week!
For those looking to learn more about TRYM, please check out www.trym.io!