Sramana Mitra: What you’re talking about is often technically not so easy to do. There are lots of opportunities to push the envelope on really good visualization. Where do you see opportunities for new entrepreneurs to do interesting work bringing together new technologies in the space?
Brenda Boehler: I do believe that it comes down to balancing new technology with a genuine uniqueness and a genuine uniqueness around the product. I’d say this to my team. To compete on price isn’t really a great model, because there will always be someone that can beat you on price.
Where you should really compete is in unique products and the experience that you have with that customer. Look at everything that is >>>
Brenda Boehler: When I look to where we want to take our business next, there are a number of new technologies that will greatly help people as they decorate their homes. There’re a number of concepts in other verticals that have not been implemented in our vertical yet. We have a website that has over 500,000 lighting and home furnishing products from 500 different manufacturers. We have a wide assortment.
There is one type of customer that just wants to come to that site to replace a broken light fixture. That involves an easy navigation, a solution, and a wide assortment. Another type of customer has a passion for decorating. The third type of customer is the one we are >>>
A recent report published by MarketsandMarkets expects the IT Service Management (ITSM) market to grow from $4.41 billion in 2016 to $8.78 billion by 2021, which translates to an annualized growth rate of nearly 15% over the next five years. The growth in the industry is driven by the continuing adoption of mobile and Bring Your Own Device (BYOD) policies across organizations. But that is not the only cloud-based enterprise service that is expanding. Another report by by Gartner estimates the global Public Cloud Services market to grow from $209 billion last year to $383.5 billion by the year 2020 with enterprise offerings of human capital management (HCM), customer relationship management (CRM) and the financial application services becoming the second largest line of business. Gartner expects these services to grow from $38.6 billion last year to $75.7 billion by 2020.
Sramana Mitra: What is the geographical spread of your business? How have you gone about approaching the geographical expansion?
Roger Hale: It is predominantly US. Something like 70% of our sales is in the US.
Sramana Mitra: When did you start selling in the US?
Roger Hale: Right away. Astra Zeneca was US. >>>
Entrepreneurs are invited to the 364th FREE online 1Mby1M mentoring roundtable on Thursday, August 24, 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.
It is a well-known fact that a good mentor can help you short-circuit your entrepreneurial journey by many months, even years. But how do you find a great mentor?
Watch this 43 second cartoon video and learn what mentors look for in the companies they advise.
In case you missed it, you can listen to the recording here:
Brenda Boehler: The opportunity exists in creating an experience for consumers to solve a problem online. We do that in many ways. Some online and some offline. I’ll speak about lighting specifically. If you’re a lighting retailer, it’s really important that you create really good content that makes it easy for consumers to understand scale and to understand lighting. We do that in a number of ways.
We do that through not only robust content on our product detail pages but also through buying guides within our blog so that people have the resources. We just help them become a problem solver for their home. The other thing that we invest in is training for our team members. There is an >>>