Derek Distenfield
President at Digital Ignition
Derek Distenfield
President at Digital Ignition
Charlotte, North Carolina
Overview
Work Experience
Managing Director
2022 - Current
FG Ventures aims to be the bridge to helping founders develop fundamentally strong businesses from idea through IPO. Some firms make this claim, but we have a track record, capital instruments, and experience to get it done.
Co-founder
2019
We travel the world investing in resilient teams bold enough to #GoGlobal. For too long self-motivated entrepreneurs have navigated the minefield of challenges to launching a global company with very little support. The last thing you should bet on in this situation is an unproven team that you don’t trust. GSD Venture Studios travels to every corner of the globe inviting resilient teams to establish partnerships that ensure organizations grow the right way, without games or gimmicks. Unlike traditional investors, we take senior operational (often co-founder) roles in these companies, capitalizing on our trusted reputation, experiences, and network to drive explosive growth.
President
2022
Digital Ignition is a launch pad for businesses looking for growth.
CEO
2018 - 2019
•Developed a new framework to think about growth.-Grow your company like a religious cult combining online and offline methods. •Exited for an undisclosed sum to large influence marketing firm Beach Social who will capitalize on their big brand clients to deliver Cult Following across the world. •Averaged 30% month over month growth by quickly gaining clients in Cryptocurrency, Blockchain, AI, Legal-Tech, Cannabis, Payments, Consumer apps, Social Media and MarTech For founders who are struggling to develop early traction, Cult Following has developed a proven storytelling framework that cultivates an audience of rabid fans, aka a cult. As opposed to others who use cookie cutter solutions and rely on vanity metrics, our customized approach is as unique as your audience demands. We accelerate your startup to an inflection point of product-market fit, pivot, or failure.
Chief Operating Officer
2017 - 2018
Formulated a new vision and strategic direction for marginally performing payment organization, operating at zero growth. Achieved 240% net income growth in 2017, increasing revenue by $5.9M. Currently on pace to exceed net Income growth 160% in 2018, increasing monthly revenue by 12%. Achieved 240% net income growth in 2017, increasing revenue by $5.9M. And over 160% growth in 2018. Increased Traction: • Spearheaded development of payment gateway that added 800 recurring revenue customers with ARR of $1M • Built new enterprise infrastructure; drove alignment around several new inward-facing and customer-facing initiatives; formed plans with clear goals and KPIs • Transformed company trajectory from traditional credit card processing systems to a tech company with a scalable API. • Eliminated outsourced marketing consultants and built the first internal marketing department that generated 100 SQL per month within 90 days • Bolstered social media presence; fine-tuned brand story, website, and social/video messaging • Selected twice by Inc. 5000 magazine as one of the fastest-growing private companies in America Decreased Churn: • Reduced churn by 8% and improved customer experience by analyzing customer data sets and identifying opportunities to increase customer touchpoints • Increased Net Promotion Score (NPS survey results) to 95% from 88% compared to industry average of 90% • Led process improvement analysis that reduced customer ticket times from 3 hours to 1 hour and 28 minutes • Encouraged leaders to “get out of the office” and speak to customers, resulting in first 24/7 call center Increased Profit: • Total P&L responsibility for administrative departments, reducing expenses 20% • Architected automated customer proposal and onboarding tools, saving $50,000 in expenses • Empowered director-level team (Ops, Technology, HR, Marketing, Partnerships) to support rapid growth • Restored brand culture, resulting in 4.8 GlassDoor rating
Director of Growth & Community Engagement
2015 - 2016
National non-profit built by military veteran entrepreneurs to empower other military veterans as leaders in innovation. Developed a community of 363 veteran-led start-up companies; recruited 12 chapter leaders and quickly gained prominence on a national stage. • Designed scalable model that catapulted organization from concept into a national brand that expanded from 4 to 16 cities. • Led the development and opening of several incubator locations that serviced hundreds of entrepreneurs • Secured national partnership with J.P.Morgan Chase & Co. that resulted in a $1.5M sponsorship. • Launched a 12-city tour, featuring high profile civic, business and military leaders, including the Secretary of the Army and entrepreneurs such as Guy Kawsaki. • Gained relationships with the White House that resulted in high powered round-table discussions. • Drive civic engagement efforts through partnerships with the DIUX, MD5, NGA, major universities and top incubators. • Develop partnerships with Comcast, MetLife, USAA, Wounded Warrior Project and other national sponsors by keeping a pulse on growth opportunities.
Director Of Information Technology (Signal Corp)
2006 - 2014
Served as a United States Army Information Technology Officer and Director for eight years of post-9/11 military service. • Three combat deployments, one in support of Operation Iraqi Freedom (as part of the surge), the two in support of Operation Enduring Freedom in Afghanistan. • Started out enlisted achieved the rare feat of receiving a college degree on active duty and then awarded an Officer commission within three and half years of service. • Developed tactics integrating Drones, GPS, and communications that were published in two military journals. • Awarded the Bronze Star for meritorious service.