Sramana: We have found that if you fail to get a validated idea going with whatever resources you have, it is very difficult to raise additional money. Stan Nowak: I could not agree more. It was not just the money. It was the investment of sweat equity. During that angel-funded period, my partner and I
Sramana: When you were starting Silverlink, did you envision it being a consumer-facing product? Stan Nowak: Yes, we envisioned it being a consumer product that we could sell through channels. Unfortunately, at that time in the marketplace there were no well-developed channels. There were no social media channels, and consumer markets were very expensive to
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Stan Nowak is the founder and CEO of Silverlink, a healthcare consumer outreach company. Under Stan’s leadership, Silverlink has developed a flexible communications technology, proprietary analytics capabilities and a team with deep industry expertise. Stan’s background includes more than 22 years of general and executive management
Sramana: I think what you have done is fantastic. Our ecosystem has created a talent war for the same people. There is talent everywhere and there are different niches and lifestyles. Being able to carve out a niche like you have is a fantastic HR strategy. Jana: Two of employees had a goal of working
Sramana: You said you have 70 people working on this project. Tell me a bit more about how you have built the team. Jana: There was no pool of people that I could go hire from who had done this before. You have to find and curate an amazing product that has a story. Our
Sramana: How did you fund the startup? Jana: I put it on my personal American Express card at first. I covered the first month of product myself. We have never taken any funding, and we have never taken on any investors. We also never had any startup capital. I was able to quickly pay myself
Sramana: You spent five months working a full-time job and working your starup business in parallel. What were you able to accomplish in those five months? Jana: Since our deals start at 9 a.m., I would be at my desk job at work. I would take a break at work and make sure every deal
Sramana: What is the business model? Jana: The business model itself is extremely demanding. The name of the company is Steals.com, and we have four niche daily deal websites that cater to women. The first one I started is BabySTEALS.com. We launch one new steal every 12 hours at 8 a.m. and 8 p.m. Pacific