Sramana Mitra: Is there anything else that’s worth discussing in your story in terms of strategy and moves that led to big losses or wins? Hamid Shojaee: From an entrepreneurial standpoint, I think that having that focus on a particular market segment is very important and then doing things for that market segment that creates
Sramana Mitra: This whole phenomenon of having employees do intrapreneurship is a big trend that we’re looking at a lot. In our incubation program, we do a lot of corporate incubation. We have this Incubator-in-a-Box program that a bunch of corporations are using to layer their own incubation programs. We run, for example, a large
Entrepreneurs are invited to the 218th FREE online 1M/1M roundtable mentoring session on Thursday, June 5, 2014, 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 to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any
Sramana Mitra: Talk to me a little bit about competition. This is very standard, right? Going from an on-premise to SaaS subscription model, businesses will always take a hit and then come back to a growth path. That’s very standard process. My next question is more a question on competitive landscape ecosystem. What is your
Sramana Mitra: Let’s step through the customer acquisition strategy. How did this $50,000 to $300,000 to $3 million happen? What was the customer acquisition strategy that was driving this growth? Hamid Shojaee: While I was working at Microsoft, the way I treated it was that I don’t need this extra income. 100% of that extra
Sramana Mitra: What happened in 2004? Hamid Shojaee: First of all, that was a very interesting wakeup call in observing how Microsoft, as a company, operates and how competitive they are, and how laser-focused on competition they are. I got introduced to various different things with respect to talking points. Microsoft was very savvy in
Entrepreneurs are invited to the 218th FREE online 1M/1M roundtable mentoring session on Thursday, June 5, 2014, 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 to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any
Sramana Mitra: When you were going in to raise the second round of financing, what were you able to achieve at that time? Hamid Shojaee: We had created four different products around this fingerprint recognition device. One of them was for picking up your son or daughter at a day care center so that no