Sramana Mitra: We’re doing an Entrepreneur Journey story. We’ve got to focus on a bit more chronological telling of the story of how you put one foot before the other. I realized that you didn’t become the CEO of the company until 2006 but I do need to capture some of the beginning story of
Sramana Mitra: How many customers do you have now? Patrick Kerpan: We’ve got more than a thousand connected customers. We don’t get visibility in some of them because with some partners, we only get the net dollar. We used to be able to track every customer and knew every use case they were doing. We just
Sramana Mitra: We are huge believers in content marketing. That’s the only kind of marketing that we do. Patrick Kerpan: We clearly lost some opportunities but for a small company, we would never hear from customers until they were POC complete. They’d go to Amazon. They’d use the free edition. They had tried it and
If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. There is a trend among entrepreneurs wanting to keep running companies without seeking an exit. Certified Languages International (CLI) is one such evergreen company. Sramana Mitra: Let’s start at the very beginning of your story. Where are you from? Where
Sramana Mitra: What do you want to do? You’ve had one successful exit. You’re in a financially comfortable position. You’ve built a second company that is also bootstrapped and very profitable. You’re still fairly young. What do you want to do with your business? How are you thinking about your choices and options now? Fred
Sramana Mitra: You said you pivoted and there was one product that you had to sell and the other product people wanted to buy. Talk a little bit more about how you proceeded from when you hit that realization? How did you move? How did you take advantage of the market pull that you discovered?
Sramana Mitra: What are the milestones of this business? By how much did it scale? How fast did it scale? What kind of strategy did you follow to make it grow? Fred Hsu: What we wanted to do at first was to basically get a good sense of the market and establish a few key
Sramana Mitra: Let me understand a couple of things. You talked a bit about Boards and about lightly capitalized company. Can you explain to me what the capitalization of the company is? Patrick Kerpan: The corporation is Cohesive Flexible Technologies Corporation. It’s a C-Corp. It owns two limited liability companies. One has all the image