Today’s 387th FREE online 1Mby1M roundtable for entrepreneurs is starting in 30 minutes, on Thursday, February 22, at 8:00 a.m. PST/11:00 a.m. EST/9:30 p.m. India IST. Click here to join. All are welcome!
According to a MarketsandMarkets report, the global sales performance management market that includes software and services is projected to grow 18% annually to $5.6 billion by the year 2020. North America is the biggest market in terms of market size, but APAC and Europe are expected to drive the biggest growth in the coming years.
Sramana Mitra: I actually don’t think it’s a problem. You’ve built a reasonable, profitable company that you own yourself with a small group of team members. You’re at $5 million in revenue. I don’t see why you apologize for it.
Janine Yancey: I guess the reason why is, I look back and I cringe at what I didn’t know.
Sramana Mitra: That’s normal.
Janine Yancey: You’re right. At this point in my journey, I have so much more clarity as you would expect. I guess there >>>
Sramana Mitra: What is your perspective of these global companies being started in various different places? India is just one of them. We are seeing companies coming out of Europe and Asia. There is a tendency or practice of them moving headquarters to Silicon Valley or somewhere in the US. What is your feeling about that? Is that something you require your companies to do? What’s your analysis?
Naren Gupta: The last few years, that has worked out well for companies. My belief in the long term is, that is going to be completely unnecessary. I think your headquarters will be in the cloud. Physical headquarters are going to become a thing of the past. Why do we move the headquarters to Silicon Valley? >>>
Sramana Mitra: What results do you have?
David Lord: We’re in 50 to 60 schools already. We’ve got 500 classrooms. We’ve got our first efficacy report that has been peer-reviewed. We’re seeing great results – about 18% improvement in scores in standardized tests using our Jumpstart Academy math product. We’re starting with that and we’ll build the rest of the suite. On the school side, we’ll not only offer grade-based products, but we also offer single subject stack.
There will be a STEM stack with a math product. There’s computational thinking. There will be reading. You can also >>>
According to Stratistics MRC, the Global Identity & Access Management market is projected to grow 15% annually to $20.87 billion by the year 2022 from $7.94 billion in 2016 driven by the increased focus on compliance management, along with the growing adoption of Internet of Things (IOT), Bring Your Own Device, and connected devices among organizations. Denver, Colorado-based Ping Identity was named a Leader in Gartner 2017 Magic Quadrant for Access Management. Here is a quick insight into the company’s performance so far.
Sramana Mitra: What was an average deal size when you were selling these to your first batch of clients?
Janine Yancey: I believe the first actual client was Intuit. I think it was $30,000 for their whole organization. It was significantly discounted. Some of the first clients were organizations that I had relationships with.
Sramana Mitra: That’s perfect. What was the first year of selling the product?
Janine Yancey: The first year was 2004. Even before I was actually working for Emtrain, I was creating something within the >>>
Sramana Mitra: Definitely, we encourage the philosophy of bootstrap first and raise money later. We have nothing against raising money but bootstrapping first is really critical to preserve ownerships. The amount of money that is being raised today, especially in these cloud businesses is crazy. By the time you raised that much money, that valuation is crazy.
Naren Gupta: I think one thing it does for you is it makes you frugal. I really believe that all great entrepreneurs are extremely frugal. It doesn’t mean you don’t spent the money to build your business, but you spend the money only when there is payoff. You only spend that much amount of money that’s necessary to get you a result. I’m a big fan of it. I started a company many many >>>