Sramana Mitra: What was the financial framework of this government relationship? Robert Hoehn: Actially, we did most of it for free. Sramana Mitra: How were you getting by? How did you sustain the company? Robert Hoehn: We put a small cash infusion in to start off. We quickly pivoted to try to sell to enterprise customers
Sramana Mitra: At what point did you make the next major strategic move and at what scale were you at that point? Robert Hoehn: Around late 2008, we were getting a lot of requests for the idea of having a comment in a survey that could be displayed to other survey respondents and they could
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. The Innovation Management software space is quite crowded. Ideascale has managed to carve out a niche. Read on! Sramana Mitra: Let’s start by going to the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Sramana Mitra: Let me ask you a couple of questions in terms of the process of building this company. In this journey, what are some of the most important strategic moves that you’ve made? Sam Wolf: One of the most important strategic moves is to really understand who our customer is and what’s important to
Sramana Mitra: Help me understand what kind of ramp you saw from the point where things started finding their stride. What kind of growth have you seen? Sam Wolf: The business has been through an evolution. We’re now 10 years old and our 11th anniversary is coming up. There’s over 200 people involved in the
Sam Wolf: I started working three months after I graduated and launched it the in following June. I hired a couple of developers. We worked on putting it together. We launched with 7,000 items mainly vitamins and supplements that I knew were selling well and were good items from my experience in the health food business.
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. All kinds of niche e-commerce businesses have been built over the last 20 years. Sam and his family have built a health and wellness products business that is doing quite well. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from?
Sramana Mitra: What kind of scale did each of these businesses reach? Are we talking million of dollars in revenue? Angie Stocklin: To be honest, it was hundreds of thousands. A couple of the brands were in the tens of thousands. Anything that was over a million, we kept. Sramana Mitra: Talk a little bit