"Because a SaaS call center product has to have three phone connections ongoing per each call center agent (versus the traditional two in an on-premise model)"
Can someone please clarify why 3 and 2 connections are needed in each case?
How I Created a $350M Software Company Knowing Nothing About Software
81–90 of 110 posts
Re: How I Created a $350M Software Company Knowing Nothing About Software
#82Earlier quoted context omitted.
John you make a very good point. Look for industries where the current market has not kept up with advances in technology due to the business structures of the incumbents. Even if they want to change they can't (e.g Kodak). Hearing aids might fall into this category, but unlike the others on your list you need to deal with the FDA. The FDA should really be called the IPA - Incumbent Protection Agency.
For hearing aid industry disruption, see iHear.[1] Unfortunately, they run on Kickstarter time. (Like mañana, but without the sense of urgency.) They just slipped their delivery date from Q1 2016 to Q2 2016. [1] http://www.ihearmedical.com/
I'd love to see someone make a device that's sort of the opposite of this.
Compact in-ear selective audio filtering. For example, block all noises except human voice.
Or a simple noise attenuation mode that can be controlled from a smartphone.
Re: How I Created a $350M Software Company Knowing Nothing About Software
#83Earlier quoted context omitted.
He did go on to found another successful startup. https://doctorbase.com/about/our-team/
I never meant to imply the guy wasn't driven and had serious business skils...that much is beyond obvious. Just his ability to cold call so many people and secure a $40k angel investment over the phone shows he is miles above most when it comes to dedication and drive. My point was..even with all that, it's still a total crapshoot to strike 9-digit gold.
Certainly true. Also worth remembering that only a small fraction of those 9 digits made it into his pocket. Most of it went to his investors (I know John IRL).
Re: How I Created a $350M Software Company Knowing Nothing About Software
#84For those reading this article and wondering about a niche area that is in need of innovators: LIMS - Laboratory Information Management Systems. Here's the deal. Most manufacturing companies (think Big Pharma, Petrochemical, Chemical, Widget manufacturing, anything really) measure quality. Those quality measurements are probably done in a laboratory. Every laboratory generates data. All that data needs to be managed…
We're currently doing this internally for the dermatopathology lab that I work for
Re: How I Created a $350M Software Company Knowing Nothing About Software
#85>"I led the company to $10 million in annually recurring revenues before I departed."
Wouldn't a more correct article title be "How I created a $10M Software Company..."? The $350M was after he left.
Re: How I Created a $350M Software Company Knowing Nothing About Software
#86If getting $150k before doing pretty much anything else was standard, it would be significantly easier to create sub-billion dollar companies. I've looked at multiple companies that wouldn't have needed further funding at all beyond about $75k unless they wanted to accelerate growth further, and would have made all of their participants extremely wealthy.
Re: How I Created a $350M Software Company Knowing Nothing About Software
#87If getting $150k before doing pretty much anything else was standard, it would be significantly easier to create sub-billion dollar companies. I've looked at multiple companies that wouldn't have needed further funding at all beyond about $75k unless they wanted to accelerate growth further, and would have made all of their participants extremely wealthy.
Yup. That's where I am right now. My current project could turn into a successful, and eventually relatively hands-off, business if I had about $50K more in the bank than I do right now. So I'm working on it on the side while I put that together, but it's slow.
Re: How I Created a $350M Software Company Knowing Nothing About Software
#88I think he's probably not as big a jerk as he makes himself sound like.
Re: How I Created a $350M Software Company Knowing Nothing About Software
#89Earlier quoted context omitted.
For hearing aid industry disruption, see iHear.[1] Unfortunately, they run on Kickstarter time. (Like mañana, but without the sense of urgency.) They just slipped their delivery date from Q1 2016 to Q2 2016. [1] http://www.ihearmedical.com/
I suspect this slip is due to having to deal with the FDA. If you look through their FAQ and look at the regulation rigmarole they have to deal with just for their hearing test product you will see why this is not an easy area to innovate in. The one thing you can give the medical industry is they have built an amazing system for maintaining the status quo.
Just look at Pharma (subset of medical)... if there is a more disreputable industry, I'm sure it's only a fraction of the size.
Re: How I Created a $350M Software Company Knowing Nothing About Software
#90Interesting article and impressive to see that kind of tenacity. Truly that's a take-away from the full perspective. The other take aways, for me, aren't nearly as complimentary. 1. Want to make a lot of money? Find an out-dated system where grunt labor is worth a lot less than the technology the grunt labor uses, and target this gap mercilessly (call centers) 2. Act like every other shady, fly-by-night, asshole sale…
You do make a valid point, but to the reverse, don't use your logic to think you can't do something. That's not good either.