Sramana Mitra: How did you meet Yaniv?
Lior Gal: Through one of the angel investors. He was a Chairman at one of the startups that I worked for and knew the three other technical co-founders from another company. When he met them, he reached out to me and introduced me. He did not set up expectations.>>>
There’s a GIGANTIC myth in the startup ecosystem. Go BIG or Go HOME! Raise GOBS of venture capital. Otherwise, you can’t build anything big. It’s GIGANTIC BS!
Watch this inspiring 2 minute 09 second video and learn how the Turakhia brothers have created over a billion dollars of personal wealth through significant exits without raising any venture capital:
Capital efficient ventures often end up creating a lot more money for entrepreneurs.
During this week’s roundtable, we had as our guest Guillermo Gaspart, Founder and CEO of ByHours.com from Barcelona. He shared his wonderful journey of building a unique online travel company. We had an interesting discussion on the issue of how much funding is too much.
For pitches, up first, we had Vivek Kumar, a 1Mby1M Premium member from Pittsburgh, PA, pitch Qlicket. The company focuses on high turnover employee engagement and has just closed its first $500k a year Fortune 500 account.
Housing Joint Venture
Next, John Delia from Columbus, Ohio, also a 1Mby1M Premium member, pitched Housing Joint Venture, an online learning platform for real estate investment.
Entrepreneurs are invited to the 461st FREE online 1Mby1M mentoring roundtable on Thursday, October 17, 2019, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/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.
You can learn more here and register to pitch or attend here. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!
According to a recent Market Research Future report, the global sales performance management market is estimated to grow at 16.6% CAGR to $9.34 billion by the year 2023. The growth is attributed to the increasing demand to build a metrics-driven sales tool and the need for driving channel effectiveness across industries. Utah-based InsideSales.com is a leading player in the market which is leveraging AI capabilities to deliver on these expectations.>>>
Sramana Mitra: Let’s talk about some customers who have become payment facilitators on top of your platform. Focus on use cases and customers that are interesting. Talk about the before and the after.
Todd Ablowitz: One of the most interesting customers is FiveStars. FiveStars is a loyalty tablet that goes on the counter of your local nail salon or restaurant. You simply put your phone number in, and they provide offers to you via text.>>>
Sramana Mitra: What was going to be in the product that you were putting together based on this general observation?
Lior Gal: The first building block is, it needs to be software. That might sound not that unique but in this space, people are still buying appliances. It needs to be software because that’s the way the future consumption is going to be.>>>
Today’s 460th FREE online 1Mby1M Roundtable For Entrepreneurs is starting NOW, on Thursday, October 10, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. Click here to join. All are welcome!