03 Feb Becoming a Startup to Watch
eRelevance is an innovative solution for a multi-billion-dollar industry ripe for disruption, led by experienced founders who have collectively helped 12 start-ups build over $1.5B of shareholder value. In 2016, we were honored for our innovation locally, nationally and globally while operating in a city that earned its own national recognition as one of the top places in the country for startup vitality.
Earlier this month, we announced financial results and strong customer acquisition and retention rates that reflect the continued traction we’re experiencing. These results were punctuated by inclusion in Boston-based consultant and research analyst SMB Group’s 2017 Top Ten SMB Technology Trends,
While we’ve been busy working hard to continue the momentum in the new year, we were named one of the 50 Austin Startups to Watch in 2017 by Built in Austin. The Built in Austin team selected the Austin startups —all less than five years old—generating the most ATX buzz. According to Built in Austin, “Some are in their infancy while others have already experienced significant user growth, but you’ll want to keep an eye out for them all in 2017.”
As we kick off February, we’re focused on finding more and even better ways to deliver extraordinary results for our customers through service, technology and expertise, and we have no intention of slowing down. While our current success is rewarding and our future exciting and promising, we appreciate that the long-term success of any business is rooted in the germ of an idea from which it grew.
According to Bloomberg, eight out of 10 businesses fail within the first 18 months. That’s a whopping 80 percent that crash and burn. So in this Golden Age of entrepreneurship, how does an innovator improve the odds of transforming a germ of an idea into a successful company? Yes, timing, passion, luck and execution are all important factors in entrepreneurial success, but the key is a delicate balance of intuition and analytics.
In a recent article in Texas CEO, eRelevance CEO, co-founder and serial entrepreneur Bob Fabbio shares his road-tested, 12-question lithmus test to help both first-time and seasoned entrepreneurs determine whether their big ideas have the legs to become full-fledged, market-changing companies. The answers uncover the sweet—or bitter—truth: Is the idea ready to launch, does it need further development, or is it time to leave this one behind and look elsewhere?
Among the most important lessons entrepreneurs can learn is that the true determinant of an idea’s worth is the market, and these 12 questions are a guide for listening to what it has to say. From inception of the idea of the eRelevance customer marketing automation service, to its current (and future) success, the market has spoken loudly and clearly about its value.