#359 - Jan Bruce, CEO of meQuilibrium on when to ignore the capital temptation

This podcast interview focuses on what it takes to build a successful software company by following your convictions even when easier paths tempt you. My guest is Jan Bruce, CEO of meQuilibrium (MeQ). In 2011, after years in the media industry during its technological disruption, Jan witnessed firsthand how stress and resistance to change were devastating careers and organizations. Despite having no background in technology or clinical work, she made the bold decision to create a software solution when she barely understood what a software application was.  For the first five years, she and her team worked for almost nothing, deliberately avoiding the tempting direct-to-consumer route that was attracting massive funding for competitors, instead patiently building a B2B model that would prove more sustainable long-term. And this inspired me, and hence I invited Jan to my podcast. We explore the counterintuitive leadership decisions that led to her company's success while competitors faltered. Her approach challenges conventional wisdom in three critical areas:  avoiding the "capital trap" of raising too much money too early,  resisting the temptation to pursue direct-to-consumer strategies despite industry hype,  and having the patience to discover your true value proposition through customer insights rather than preconceived notions.  Jan's leadership journey reveals that sometimes the most profitable path is the one where you say "no" to what everyone else is saying "yes" to. Here is a quote that captures one of Jan's most striking business lessons: "There was a time when there were a lot of we had potential competitors entering in the direct to consumer space, and they were raising a lot of money, which, as you know, from a tech perspective, capital can deliver speed to build. And so there's always that temptation to, well, should we do it to get the money? But we didn't do it, and it was the right thing to do." By listening to this podcast you will learn: How to achieve "funding freedom" by bootstrapping until investors need you more than you need them Why saying "no" to popular market trends can create a sustainable competitive advantage How to discover your true value proposition by listening to customers rather than industry hype The leadership mindset required to build a profitable software company when you have no technology background For more information about the guest from this week:  Guest: Jan Bruce  Website: meQuilibrium.com Learn more about your ad choices. Visit megaphone.fm/adchoices