Today we’d like to introduce you to Thad Metz.
Hi Thad, so excited to have you on the platform. So, before we get into questions about your work-life, maybe you can bring our readers up to speed on your story and how you got to where you are today?
I was fortunate enough to have been able to work on the floor of the Chicago Mercantile Exchange for 10 years. I began as an entry-level runner and moved up to become an arbitrage clerk shortly after. As a clerk, I fell in love with the adrenaline rushes from fast markets and the intense competition to provide the quickest, most accurate market quotes. After a few years of working for great mentors (bosses), I borrowed money to start my own brokerage group. The other brokerage groups hated me for doing this and wanted to see me fail. I overcame the hostility and was able to pay off my borrowers within my first year. I found a partner and we successfully expanded into new markets. I left the C.M.E. in April 2006 due to 98% of floor-trading volume migrating to Globex, C.M.E.’s online trading platform. I entered the C.M.E. with nothing and left owning a trading membership and a lifetimes-worth of experience.
By the end of 2006, I established a mortgage company and a financial data-feed company. I left the mortgage company shortly after its formation because of the lack of fee transparency and because I was more interested in the data-feed company. My partner in the data-feed company provided me with a formal introduction to api’s, networking, firewalls, virtual servers, and data centers. We were building real-time NASDAQ, NYSE, and AMEX data-feed connections for a company that told us they had 30,000 customers. Tens of thousands of dollars later, they told me they only had 20 customers. We had built Noah’s Ark and there were no animals! Although these last 2 companies amounted to very expensive lessons, I discovered my newfound love for info-tech.
In 2008, I moved to Arizona in a leap of faith. After a few years trying to settle in, I had a thought that would be the basis for QuantiSave®. I wanted to buy 100 gallons of gasoline to lock in low pricing. I also wanted to individually redeem these gallons at the local gas station, share them with others, or be able to sell them for a higher price. Penetrating this market seemed daunting so I started doing market research in alternative industries in my spare time.
In late 2016, I met Cafer Avci in Tempe, Arizona and we started building QuantiSave.
Would you say it’s been a smooth road, and if not, what are some of the biggest challenges you’ve faced along the way?
Finding a Cofounder: It took a long time to find the right cofounder. I searched with the S.B.A., C.E.I., posted jobs on Craigslist and A.S.U.’s Careerlink, and interviewed multiple individuals I found via search engines for “full-stack engineers Phoenix LinkedIn”. After multiple meetings with Cafer, there was mutual understanding of the opportunity and the approach to get there.
We were about to do a soft launch and then Covid-19 came. I received text messages from businesses saying they wanted to hold off putting their products on our platform. Some of the businesses I had engaged with went out of business. We decided to take a year off to see to let things settle.
Talking about futures contracts and commodities can be an intimidating conversation. Explaining how and why we commodify products and services was a challenge. We had to make the functionality on our platform as simple as possible and focus on value propositions, the “why”, in our messaging.
There was much to learn: wireframing, technology adoption lifecycle, lean startup, business canvas, AARRR framework, basic coding, photoshop, the chicken-egg marketplace problem, KPI’s, and network effects. I had to read, and still read and refer to many books and articles to understand what we are doing, why we are doing it, and how to get there.
I am grateful for the multiple mentors that have been dedicating their time to help me.
Thanks – so what else should our readers know about QuantiSave, LLC?
We bring over 20 years of futures trading, info-tech, and marketing to help businesses utilize their products and services in new ways.
We built a platform that allows multiple sales to take place at one time. Consumers receive savings and businesses get upfront payments. This buy now, redeem later model ensures repeat visits from frequent redemption.
Businesses can create customizable deals to drive in-store traffic, whereas 3rd party delivery services keep customers out of their establishments.
Our products can be shared with one another and donated to charities with our versatile marketplace choices. This connects people through new digital touchpoints that allow businesses to reach 3x’s the audience for 50% less while contributing to worthy causes. If we can redirect some of the at $646 billion forecasted to be spent on digital advertising by 2024, we will make a huge impact.
Now that there is some resemblance of normalcy, we are resuming our soft launch and working with local businesses and small franchises in Phoenix.
We can be reached by email at email@example.com or directly by text at 602.464.4909.
Follow us on Instagram @quantisave to stay up to date on our progress and amazing deals!
Can you talk to us about how you think about risk?
It was risky to start a brokerage business at the C.M.E. At 25 yrs. of age, I borrowed $50,000 and signed a 12-month $2,200/month membership lease without knowing if I would make enough money to cover those expenses. I also had a mortgage, car payment, and other living expenses to worry about. Within my 3rd month of trading, I had a $15,000 error. Luckily, I had made enough up till then to cover it. Trading is risky.
QuantiSave is no different. I learned from my previous unsuccessful ventures to verify and validate an idea before risking time and money. If it wasn’t for multiple “I don’t know why we wouldn’t do this?” responses from business owners and managers, I would have moved onto something else.
- Website: https://www.quantisave.com/
- Instagram: @quantisave
- Twitter: @quantisave
- Facebook: @quantisavellc
- Other: https://www.quantisave.com/HowItWorks