Listen to a CEO's startup journey and learn about trusting intuition, customizing products for niche markets, and building loyalty. Discover the importance of financial patience, remote work, and strategic partnerships in growing a multi-million dollar business. Embrace agility, niche focus, and perseverance in entrepreneurship for long-term success.
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Quick takeaways
Test your gut and go for it, making changes as needed for success.
Hiring globally and embracing remote work can lead to cost-effective operations and diverse teams.
Deep dives
Building a Business Privately with No Outside Funding
Matt discusses how they grew their business without relying on external funding by being financially responsible, taking calculated risks, and focusing on gradual growth while avoiding unnecessary expenses. By not rushing to hire many employees and emphasizing the importance of having a financial buffer, they were able to sustain their company with organic growth and efficient operations.
Embracing Remote Work and Expanding Internationally
Matt highlights the benefits of hiring globally and embracing remote work to build a diverse and cost-effective team. By utilizing resources in countries like the Philippines, they were able to reduce expenses significantly while maintaining a high-quality workforce. This approach enabled them to provide excellent support and services to their clients without the need for a physical office, promoting flexibility and efficiency within their company.
Importance of Agility and Honest Communication in Company Growth
Matt emphasizes the value of being agile in responding to market changes and customer feedback, allowing for quick adjustments and improvements in products and services. He stresses the significance of fostering a culture of open communication, where team members feel comfortable providing feedback and sharing ideas. By being transparent about both successes and failures, the company encourages a supportive environment that promotes continuous learning and growth.
Matt Going is CEO and co-founder. He caught the startup bug working as an executive for many early-stage companies – most notably for NorthPoint Communications, one of the first broadband providers.
Top 3 Value Bombs
1. Test your gut and go for it. Watch it closely and make changes as it’s needed.
2. Prepare and stick with it. You came up with an idea because you saw an opportunity. Launch when you’re ready to go.
3. Take bite-sized chunks. You don’t need to boil the ocean on day one. Test and see if things work, and build on that.
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