Over the past few years, the rise of cloud-based services has also resulted in the growth of a subscription economy. More and more enterprises are looking to transition from a traditional product sales model to a pay-as-you-go service relationship. Analysts estimate that global subscription economy will be a $100 billion market by 2020.
Sramana Mitra: By the time you found your product-market fit, there were other players in the market in the visualization space like Tableau. What did you experience from a competitive challenge point of view?
Allan Wille: We actually saw relatively little competition. That’s because we were going after small and midsize companies. Even today, the business intelligence and visualization space is very crowded, but it’s crowded in the enterprise. All those players exist to sell into larger organizations. They have an outbound sales force. They’re very expensive and complex.
We focus on the small and midsize companies where they don’t have an analyst or they don’t have an IT person. How can we be prescriptive and >>>
Sramana Mitra: The product idea was based on what you were doing for Nokia and what you wanted to bring for the other mobile operators, right?
Hannu Verkasalu: Exactly.
Sramana Mitra: This is now the post-iPhone era.
Hannu Verkasalu: Yes. Now more and more companies were interested in mobile being a medium for content and services. Of course, Nokia was no longer >>>
According to a Phocuswright report, the total travel market is expected to reach over $400 billion in 2020. US online travel agents’ (OTA) market share will reach 41% by 2020. The online travel market has seen much consolidation over the years and the duopoly of Expedia and Priceline now dominates the industry. >>>
Sramana Mitra: What did you learn? What were the key levers that you learned to push or look to push at that point?
Allan Wille: I think the obvious one was that our revenue was simply not growing. That was the one that was staring us in our face. We did have some successful customers, and we had heard that they relied on and loved our product. However, the rest of the model was just too difficult. Every time I chatted with other CEOs, that was the sense I got. Sometimes people are polite, but I wasn’t certainly hearing the yes. >>>
Entrepreneurs are invited to the 346th FREE online 1Mby1M mentoring roundtable on Thursday, March 30, 2017, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
There is a myth in the startup eco-system that solopreneurs do not succeed.
This is a MYTH.
Watch this inspiring 1 minute 6 second video of how Sean Broihier navigated his journey:
Hannu has done three companies, including the one that he is doing now. We love stories of successful entrepreneurs from different parts of the world, and this one, from Finland is a wonderful one!
Sramana Mitra: Tell me where you come from, where you were born, raised, and in what kind of background.
Hannu Verkasalo: I’m originally from Finland. I was born in the northern parts of Finland, which is famous for Nokia. I moved to Helsinki to do my university studies. I did quite a bit of different studies in business and technology in Helsinki. About 15 years ago, I started my first company. It was all about mobile apps, which was driven by Nokia. >>>