On the 3rd day at San Francisco, the hub of Silicon Valley, we met at a very unique place, the University club of San Francisco. We were meeting Mr. Paul Rosenfeld and Tracy Grover, founders of Fanminder. The clients of the company are mainly the small business ventures, who would like to market their products and services through modern tools, such as texting, social networking sites and email. These companies will not be having the expertise to do marketing.
Mr. Paul was involved in many startups in his early life, which ended up in being labeled as failures. Although his business plans and marketing skills were par excellence the environment was not conducive enough to establish the companies. Ms. Tracy also was involved in 5 entrepreneurial ventures, with the sixth on the way. Finally they ended up in establishing Fanminder.
They acknowledge the fact that they have complementary skills which is quite useful in running the company. Mr. Paul deals with finance and marketing, while Ms. Tracy takes care of technology administration. They went to mention about how important choosing your investor is. Also it is highly imperative that the team we choose for the company should be of high quality. You cannot fill the position just for the sake of it. The candidate should have adequate knowledge about the product.
To the young aspiring entrepreneurs, his statements were very inspiring. He said, you should have the guts to go ahead and start you company. Every success entrepreneur has left his cushy corporate job to start of his venture. Yes, although faced with initial failures, most of them have struck gold. Never be intimidated by initial failures and pressure. But we should go ahead and establish ourselves.
Ramkumar Ganesan (1460530)
MBA Candidate, 2013