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Endeavor Hosts Retail, Food & Beverage Tour for Endeavor Entrepreneurs, Features Presentations from Top Industry Brands

Endeavor hosted a Retail, Food & Beverage Industry Tour for select entrepreneurs in its network, providing them with a rare look into the operations of  some top global brands in each industry. The two-day tour included a mix […]

November 19th, 2014 — by admin

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Endeavor Affiliates Show Support for Global Entrepreneurship Week Around the World

Global Entrepreneurship Week (GEW) kicked off last Monday, November 18th with a slew of activities in celebration of the innovators and leaders who are transforming economies and promoting ecosystems of entrepreneurship worldwide. Taking place each […]

November 25th, 2013 — by admin

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2011 Summit closing address by Linda Rottenberg and Fernando Fabre [Video, Transcript]

Endeavor is pleased to make public the following transcript and video from a presentation at the 2011 Endeavor Entrepreneur Summit in San Francisco. The event, which assembled over 450 entrepreneurs and global business leaders, featured dozens of entrepreneurship-related presentations by top CEOs and industry experts.

Overview: Endeavor CEO Linda Rottenberg and President Fernando Fabre concluded the Summit with their ideas, goals and dreams for Endeavor and the Endeavor Entrepreneurs who make it all possible.

Full transcript:

Fernando Fabre (President, Endeavor Global)

We want to talk about what we define as the Endeavor Experience. Four months ago I joined Endeavor Global, after serving as the Managing Director of Endeavor Mexico. A lot of people have asked, “What do you do in your position?” Let me tell you what I’ve been doing. It’s something I really believe in.

First off, we’ve been in operation for almost 14 years. We have operations—meaning full-time, hired staff—in over 30 offices in 15 countries around the world. We have 200 staff members, we’re supporting over 600 entrepreneurs from about 400 companies, with revenues of over $4 billion and 150,000 jobs. With the magic of compounding, in the next five years we’re going to double that so we’re going to have 60 offices in 25 or 26 countries actually around the world, we’re going to have another 400 Endeavor Entrepreneur firms within the next five years, with revenues of $12 or $13 billion, and 400,000 jobs. I can tell you that that is going to happen. With certainty that’s going to happen because it has happened in the last 14 years. It’s going to happen because we have the most outstanding team of Managing Directors (MD).

We have an extraordinary team here in the U.S. In the US alone we have 34 staff members—including Dave Geary (Partnerships), David Wachtel (Marketing & Communications), and Larry Brooks (Finance). Make no mistake: in the next five years, we’re going to double the impact we’ve made in the last 14 years. It’s going to happen.

But beyond that, what we’ve been saying over the last year is, “Let’s look at Endeavor differently. What is the promise, the value proposition that we’re making to Endeavor Entrepreneurs? What’s the ‘Endeavor Experience’ we’re offering them from the first time a staff member or MD talks to or recruits them to Endeavor, the moment they’re in the selection process and receiving services? We are making a promise of certain standardized elements, including access to a network of the smartest, brightest business minds in the world. Right now we’re working harder on developing a standardized platform for providing this access. (more…)

Beer kegs and the future of venture capital: what it means for entrepreneurs

Reprinted from Genuine VC.com. Original post here.

By David Beisel

Last September I wrote a post outlining my view of the venture capital industry: increasingly evolving like the beer industry as it continues to mature. Large VC firms resemble Budweiser-type macrobrews, competing based on scale and brand with a standardized product across multiple geographies, sectors, and stages. And much like the emergence of microbreweries specializing in craft beer, new Micro VCs (disclosure: like my own firm NextView Ventures) are thriving by specializing along at least one or more of these three dimensions (geo, sector, stage) with a unique offering for a specific subset of entrepreneurs.

It’s interesting to take step back and look what’s transpired in the year since that post. I hypothesized that, “Perhaps a contrarian statement in this environment: but even though there’s been a dip in fund size due to broad economic factors and LP appetite, it wouldn’t surprise me if the truly top firms raise even larger funds over the coming decade.” And it’s already happening… heritage firms have indeed raised even larger funds. Within the past twelve months, we’ve seen Bessemer raise a $1.6B fund, Greylock expand its fund to $1B, and Accel raise $1.35B across two funds. Hardly sounds like the death of the VC industry predicted by so many. But these are indeed multi sector, multi-geo, and multi-stage firms with long-standing LPs who are confident in their abilities as an enduring franchise to sustain elite performance.

On the Micro side, we’ve seen numerous first- or second-time specialized funds close as well, like Pivot North, Thrive, and Freestyle… just to name a few. All of these funds were raised despite the number of firms raising VC funds going down and overall dollars going into the asset class dropping. So what’s going on? Who’s losing out? The answer is that mid-sized VC funds that don’t have the scale and brand to compete broadly, but also don’t have a focused and distinct strategy, message, and offering. These firms are caught in the middle without much taste, just like Genesee in the beer market.

I believe that we’re only the beginning of the new wave of emerging firms (and those existing ones retrenching and repositioning towards) taking a specialized offering approach. Those venture firms firms caught in the middle without the scale of a large firm and without the focused strategy of a Micro will continue to wane.

But if the VC market is really resembling the beer market, what does that mean for the customers, entrepreneurs?

More brewers = more sources of capital. Especially at the seed stage, because there are lower barriers to entry for a new firm with a seed stage strategy (because of capital requirements to raise mid-/late- stage specialized fund), a plethora of new firms will continue to be founded. All of that choice becomes a double-edged sword for entrepreneurs, but in the end is of course net positive. Founders benefit of having more funding options is certainly preferable, but there is a substantial onus on entrepreneurs to navigate an increasingly crowded and clouded landscape. While social media has brought greater transparency to many aspects of the VC business, it’s still a relationship-driven and moderately opaque industry.

Local brewers = geography matters. As macrobrew VCs are increasingly spending time in multiple geographies (separate from their HQs) there is real potential to differentiate along knowing that you can actually sit down and see your VC face to face. For some that’s important, but for some that’s a negative. Just as some people here in Boston prefer drinking Cambridge Brewing Company ale; others could care less it was brewed locally.

Specialized brewers = increasingly specialized sectors will cut beyond just a broad domain focus. Big Data, mobile, cloud-only are all dedicated sub-sector funds examples I know of in the IT space. Think of it as a hoppy IPA brewery vs. one which focuses on American Ales. How much of a benefit is it to have your mobile company backed by a firm which only does mobile? They’ll certainly know the ecosystem and be able to share learnings and network across the portfolio.

What’s pouring = individual partners matter. Each brewery has its own brews, and each firm has its own people. Individuals will matter just as much as the firms themselves because of their efforts to make a distinction from the often faceless macrobrews. Personality fit has always been important, and this dimension will become increasingly a factor on where the best entrepreneurs turn to for their capital.

Can’t try every beer = paradoxically, reputation and word-of-mouth will matter more. Even with greater transparency in online, with the abundance of choice, people will look to referrals. Discovery of the right potential venture firm that will serve as a good fit becomes a harder problem because of the sheer number of options available. When you only had a few beer choices, you tried them all; now you’ll ask your friends (with similar preferences) what they like.

Whether buying a whole keg or just a single draft beer – raising a large round or only a seed round, the VC landscape is definitely changing dramatically for entrepreneurs. However, the difference is that with a beer you can always select another next time, but your VC you’re stuck with for a quite a while.

An entrepreneurial mindset: things to think about

Reprinted from www.under30ceo.com. See the original post here.

By Amy Abrams

Early in my career, I worked in what is now referred to as the first dotcom bubble. When I think back to those days, I remember it being incredibly fun, hectic, creative and exciting. I also remember working around the clock and feeling like I had no life. In many ways, it was the modern-day equivalent of the Wild West with industry people hoping to strike gold. People were starting new companies daily. Some of the companies became brief success stories, many went out of business and a few are still around today. What characterized the majority of these companies was that they were looking to grow fast and then exit with a big payout in the form of an acquisition or an IPO. The entrepreneurs running these companies were willing to work 24/7 to achieve this goal and expected their employees to make the same sacrifice. What I witnessed over time was a lot of over-worked and unhappy entrepreneurs whose dream did not come true.

While I was in it, living the frenetic life in the dotcom universe, I barely had time to think. But one question kept coming to mind: Is this the only way to be an entrepreneur? The answer became clearer over the years. It most certainly is not. After working with entrepreneurs for over ten years, I’ve found the most valuable opportunity of entrepreneurship is to be able to create meaningful work on your own terms, on a daily basis. Instead of sacrificing a lot in hopes of scoring it big payoff someday, your payday can be everyday.

Being able to get there requires a bit of a re-think, however. Perhaps one of the most drastic elements is to think beyond the financial rewards of running your own business. It goes without saying that it is important to feel compensated for the work that you do and that level of compensation varies from business owner to business owner. However, instead of exclusively working non stop and making significant sacrifices in your life so that you have a big pot of gold at the end, it’s worth considering ways that you can feel like you are receiving golden nuggets daily.

Consider your personal motivations for becoming an entrepreneur. For some it is a desire for autonomy or creative control. For others, it’s about finding meaning, freedom, or unlimited earning potential or a combination of many of these. Now ask yourself, would you sacrifice this aspect of your business for the next 5 years so that you could receive a big payout? No way! This motivator was a driving force for starting your business in the first place. Its value is worth its weight in gold, so to speak. So there is your first golden nugget. A word of caution here: once you realize the value of these benefits, you need to make sure that your business allows for/honors/accommodates them. Perhaps you need to do a little tweaking to make sure that your business meets your needs.

Next, consider what you do for your business. It is not that common in the professional world to have the opportunity to write your own job description. The beauty of being an entrepreneur is that you can and you do. And part of the thrill of entrepreneurship is that that job description changes. You can create a role for yourself in the business that utilizes your strengths and that allows you to feel energized because you get to do what you do best. Of course, there are some aspects of entrepreneurship that are not glamorous (for example, taking out the trash) or that you are not skilled at or enjoy but you still need to accomplish. There are lots of ways to outsource areas of weakness or areas you dislike over time. So ask yourself, would you be willing to compromise doing what you know you do best? What you most love? Would you take a job that does not utilize your skills and talents in exchange for a big paycheck? Of course not. Many entrepreneurs are motivated to start their own business so that they can enjoy their work on a daily basis. That is the operative word — that everyday your work is meaningful. And there is your second golden nugget.

Finally, it is worth considering how your business can make an impact. Many entrepreneurs start their business with the hope that their business will make a difference. This comes in a lot of forms, most frequently tied to the idea of innovating, changing an industry, blazing a new trail or solving a problem. Making a difference is often something that people refuse to put a price tag on as it fulfills a deeper sense of meaning for the individual. The impact your business can make in this world is a golden nugget unto itself. It is pointless to even question if this is something one would trade for a big payout. Working on daily basis towards making a difference is your daily gold.

The course of entrepreneurship varies greatly. There is no one road to get there. But along the way, there are some fundamental building blocks, some critical milestones that go beyond the tactical measures of business growth and success — the personal elements of satisfaction that help motivate and validate your decision of entrepreneurship, those things that cannot take away.

Amy Abrams is an entrepreneur, speaker and co-author of The Big Enough Company: Creating a Business that Works for You (September 2011, Portfolio/Penguin). She is the co-founder of In Good Company Workplaces, a business community center and co-working space in New York City. Amy is also the co-founder of Artists & Fleas, a weekly marketplace for artists, designers and vintage collectors in Brooklyn. For more information, please visit http://bigenoughcompany.com, and follow the authors on Facebook and Twitter.

Endeavor co-hosts angel investing summit in Turkey

From left to right: Didem Altop (Endeavor), Kaan Gür (Akbank), John May (ACA), Hakan Binbaşgil (Akbank), Banu Samiloğlu (Turkcell), Özcan Tahincioğlu (Endeavor), Mustafa Say (Endeavor and TUSİAD), Tayfun Bayazıt (TUSİAD), Robert Okabe (ARI)

By Ceylan Hunal (Endeavor Turkey)

“İyi Yatırım Summit,” an event targeted at developing an angel investing community and entrepreneurial culture in Turkey, was held at at Sabanci Center in Istanbul on October 4-5. The summit, organized with the collaboration of Endeavor Turkey, TUSIAD and Angel Resources Institute and sponsored by Akbank and Turkcell, brought together leading Turkish and international investors, entrepreneurs, academics and top executives.

Opening remarks were made by Özcan Tahincioğlu, Board Chairman of Endeavor Turkey, Hakan Binbasgil, Deputy CEO of Akbank, and Tayfun Beyazıt, Vice President of the Board of Directors of TUSIAD. During the two-day summit, attendees discussed the “Angel Investor” model, which aims to support entrepreneurship and enhance entrepreneurial activity by providing knowledge, mentoring and networking opportunities to entrepreneurs, along with funding support.

The first day of the summit featured five panels lead by Robert Okabe, President of Angel Resource Institute, and John May, Chair Emeritus of the Angel Capital Association, which aimed to educate participants on various aspects of angel investing. The panels focused on portfolio strategy, due diligence, structuring of a deal, valuation of early stage companies, and post-investment relationships. On the second day of the summit, Robert Okabe and John May gave a half day workshop on different valuation techniques for early stage companies. The other panelists in the sessions were mostly Endeavor members, Endeavor Entreprenuers and Endeavor partners. The audience also included select members of the greater Endeavor network, such as NGOs and business leaders, all uniting to shape the nascent angel investor ecosystem in Turkey.

Matt Barrie on his success with Freelancer.com and entrepreneurs today

Reprinted from www.under30ceo.com. See original post here.

Matt Barrie is an award-winning entrepreneur, technologist and lecturer. He is Chief Executive of Sydney-based Freelancer.com, which is now the world’s largest outsourcing marketplace connecting over 1.5 million professionals from around the globe. In 2011, he was named BRW Entrepreneur of the Year.

Throughout his entrepreneurial journey, Matt has experienced his fair share of ups and downs. In this Q&A interview with Alex Pirouz he explains how a vision much bigger than yourself can make it easier to push through times of uncertainty and hardship.

The main asset of what is now called Freelancer.com was launched in 2004. It wasn’t until 2009 that you took over. How did you build the brand after that so quickly?

“I started purchasing outsourcing sites all around the world, ranging from thousands of users to hundreds of thousands, and put resources behind them such as an engineering team, marketing team, etc.

“I had to see if it was going to be a good fit with the existing websites, if the price was right and if there was something compelling and unique that was going to add value to our existing infrastructure.

“In doing so, two years ago we were placed in the top 5,000 biggest website and now we are 240th globally, our users have grown from half a million to 2.5 million and in April 2011 we reached one million projects being listed on our site.”

In your opinion how important is it to recruit the right staff?

“One of the biggest challenges business owners face is finding the right people. When you hire A-grade people, in turn they attract more A-grade people to want to work at the organization. So essentially I look for someone who is A-grade and is able to fit into our culture.

“You only need to look at Google, Facebook and other big companies to notice that people are drawn to them because of their work culture and the people within their organization.

“In striving to be the best in the industry and one day the eBay of services, we have not only been able to attract the right talent but it has also given staff the drive and motivation to always want to expand and look at ways to improve so we stay ahead of everything.

“Whilst some entrepreneurs want to know and control everything within the business, a good manager of a business will hire people smarter than him and delegate certain roles to those people. By getting boggled down with the daily duties and tasks they will never have time to build the business.
“Find people who are better than you and give them that job. If you don’t delegate, you will never build a big company.”

What is the biggest challenge facing entrepreneur’s today?

“Starting is what I believe to be the biggest challenge. For people to transition out of work and go out there and take a risk is the toughest in my eyes. 60% of people think about starting their own business but only 5% do. Getting going is the toughest.

“If you are thinking about starting something, go and do it. It will be one of the most rewarding and challenging things you can do in your life. Just make sure you remain focused, don’t become complacent and always look to be growing as a company.”

As an entrepreneur what drives you on a day to day basis?

“I want to forge my own destiny whilst changing the world. A massive business has never been built in Australia, you have Facebook and Google but nothing has ever been done here so I want to be the first one to do that.
“It can be very tough and you wake up some mornings and think, is this going to be as big as it is, its potential?, and you do have some doubt. Every company has its ups and downs; you just have to persevere, execute, execute and execute. That requires a lot of focus and you just need to push through.”

When financings fall apart

Reprinted from Ask the VC. See the original post here, by Brad Feld.

Rand Fishkin, the CEO & co-founder of SEOmoz, has an long, thorough, and incredibly detailed blog post up about The $24 Million Moz Almost Raised. Rand does an awesome job of providing extensive details while maintaining confidentiality of the participants.

The story covers the full lifecycle of the VC fundraising process, beginning with Rand and his teams’ discussion about whether or not to raise money. He documents the fundraising dance, including providing lots of juicy email correspondence to underscore his points. He lays out the numbers for his company, the terms for the deal, and his view of when he was negotiating effectively vs. stumbling around.

Ultimately he gets to a signed LOI and that’s where the fun begins (in the section titled “Then Things Got a Little Weird”). The deal ultimately falls apart and Rand does a nice postmortem where he speculates on what happened. He then wraps it up with how his team responded and what’s next for SEOMoz.

If you are an entrepreneur, go read this post now. It’s probably the best and most detailed description of the VC fundraising process that I’ve read. Well done Rand – on many levels. Even though this particular deal didn’t close, I love your statement at the end:

“What I can say is that this experience makes me and the rest of the Moz team even more inspired and motivated to build an amazing company. We can’t help but feel passion for proving doubters and naysayers wrong. The greatest revenge is to execute like hell, bootstrap all the way, and do what we said we’d do – become Seattle’s next billion-dollar startup, and make the world of marketing a better place.

I know we can do it.”

5 Endeavor companies to present at 2011 Americas Venture Capital Conference

On November 16-17, cutting-edge ventures from Latin America and South Florida will vie for more than $50,000 in awards and recognition from leading investors, at Florida International University’s 2011 Americas Venture Capital Conference (AVCC). Of the 12 companies invited to make presentations and compete in this year’s conference, “Latin America: Building on Success,” five were started by Endeavor Entrepreneurs.

The AVCC bills itself as the premier forum for creative and innovative Latin American ventures to engage established firms and investors of South Florida. As many South Florida companies are looking to benefit from emerging talent in the oft overlooked region of Latin America, the conference allows the two to create strategic alliances so that both may better compete and thrive in today’s global marketplace.

Endeavor congratulates all nominees for the 2011 Top Global Innovative Ventures, including the following five Endeavor-supported companies:

APPI Tecnologia APPI of Brazil provides software solutions that make it easy to use point of sale (POS) devices (such as cash registers, terminals, or other types of hardware) for a variety of functions. Today almost half of all POS merchant devices in Brazil are equipped with APPI’s platform.

Buscalibre is fast becoming a best-seller in the Spanish-speaking world. The Chilean e-commerce website for books manages a comprehensive collection of titles by unifying Latin America’s segmented book markets through a network of local publishers.

Business News Americas of Chile is a subscription-based service that provides elite industry-specific information in English and Spanish to Latin America’s business leaders and decision-makers via a daily, real-time Internet news service.

Cinemagic builds and manages high-tech, modern movie complexes in small size Mexican cities taking advantage of the gap in the Mexican movie market where the national cinema industry is valued at US$575 million, and yet more than 200 small cities do not have a movie theater.

Conexia has become the industry benchmark in Argentina, providing the great benefit of real-time adjudication, which enables healthcare practitioners and insurance companies to share information and validate medical procedures with the simple swipe of a patient’s health card.

More information on this year’s conference can be found here.

7 common sales mistakes, and how to avoid them

Reprinted from Quicksprout.com. See the original post here.

By Neil Patel

Do you want to get good at sales? Because if you do, there is a lot of money to be made. But before I can teach you how to sell, I need to first teach you what not to do.

If you want to make money through selling, you don’t have to be a great sales person, you just need to avoid these common mistakes:

Don’t forget to qualify

Before you can sell, you have to find someone to sell to, right? Whether it’s someone coming to you or whether you are finding someone to sell to, the first thing you have to do is qualify your potential customer.

If you forget to do the qualifying step a large percentage of your time will be wasted on potential customers who don’t really need your offering, or can’t afford it.

Every opportunity isn’t equal. Through qualifying you’ll get a better understanding of what each customer wants, when they want it by, their budget, and most importantly you’ll be able to figure out if you are talking to the person who can actually make the decision.

If you aren’t sure how to qualify people, all you have to do is ask them simple questions such as:

What are you looking for specifically?
What’s your budget?
When are you looking to start?

Don’t be a “yes” man

Do you know what the biggest sales mistake you can make? It’s not forgetting to qualify. It’s saying “yes”.

When a potential customer makes a request, you’re naturally going to want to say “yes.” And once you say yes a few times, you’ll realize that you’re walking on a slippery slope because the customer will keep on making requests and each one will not only cost you money, but it will let the customer know that they can be demanding and walk all over you.

If you can do what a customer wants and it is profitable for you, say yes. If the request is unreasonable, say no. By setting this precedent early on, you’ll have more happy customers.

When I first started selling years ago, I had a tendency to constantly say yes even when I couldn’t deliver. This caused us to have unhappy customers and it added unnecessary stress to the business. So don’t do what I did.

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Tips for “intrapreneurs” — being a visionary in the corporate world

Reprinted from www.under30ceo.com. See the original post here.

By Jeff Certain

Two years ago I was afforded the opportunity to work at a mid-size company as a full-time marketing manager. After ten years of as my own boss, the prospect of working with a group of intelligent marketers with actual resources, a steady salary, and a 401K was too much to turn down.

It was here, in the corporate environment, where I learned the true meaning of an intrapreneur, defined by the American Heritage Dictionary as “a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation.”

The business landscape is changing and the recent downturn in the economy has forced companies to do more with less people. That means that employers are hiring innovative thinkers to solve age-old business problems in new ways. I asked my department head to elaborate: “An entrepreneur can bring a tremendous amount of value to a larger organization. Entrepreneurs, almost by definition, gain a variety of skills and learn to think on their feet and operate with limited resources. An entrepreneur is also someone who has developed a ritual of self reliance and accountability, and understands that to get something accomplished they will need to push the initiative.”

While my time in the corporate environment has been enjoyable, and for the most part successful, I have made a few missteps along the way. And so I humbly offer a few tips from my journey as an intrapreneur. Whether you are just entering the corporate fray or and an old entrepreneur at heart, these tips can help clear obstacles from your path. They are as follows:

1) No One is an Island

Know this: you will have to give up some independence in your transition from an entrepreneur to intrapreneur.

In your role as intrapreneur, you must depend on other people and internal processes to get your job done. The sooner you accept this truth, the happier and more productive you will be. Things are going to move slower than you are used to and that’s okay. Push the initiative forward, but follow the organization’s standardized business process. There’s nothing wrong with fighting for your ideas. In fact, this is probably why they hired you in the first place. Just keep in mind you are part of a system now, so take a deep breath and remember what it was like when you couldn’t afford printer ink because your client hadn’t sent the check yet.

(more…)

Combating the innovators dilemna – HubSpot’s experiments framework

Reprinted from OnStartups.com. See the original post here.

The following is a guest post by Brad Coffey, an early employee at HubSpot. You can follow Brad on twitter @BradfordCoffey

Recently HubSpot was lucky enough to be included in the Inc. 500 list of fastest growing private companies. It’s a great honor, we’re really excited (and humbled) to be listed next to so many great companies. In an adjoinging article in Inc. Magazine, our CEO Brian Halligan discusses a key part of our success. He talks about our approach to experimentation and our methodology for incubating new ideas. What Brian describes is three tiered approach to promoting and funding unconventional projects. It’s a methodology that served us well thus far and helped create an innovation pipeline that offsets our traditional disciplined focus on the core business.

The foundation of this framework is based heavily on Clay Christensen’s work in The Innovators Dilemma. We’re huge Clay Christensen fans at HubSpot (even have a conference room named after him) and have been life-long students of his work. In his work Clay asks a very straightforward question without an obvious solution – specifically: Why do well managed, successful companies repeatedly fail to create new disruptive innovations?

This framework was developed fundamentally to combat that challenge and create a lasting culture of entrepreneurial exploration.

HubSpot’s Experimentation Framework

The framework has 3 stages, each with a distinct goal and approach.

Alpha – Lowering barriers to experimentation

No bureaucracy, no red tape, full access to information. This stage is simply focused on enabling anyone with energy and an idea to try a new solution. Tests are run by everyone and anyone – but are generally done in spare time (nights and weekends) and with few resources. You don’t need to ask permission to run these tests – and by design no one ever knows all the alpha stage experiments actively being pursued. It’s open and distributed.

Beta – Determining proper funding

When an experiment reaches Beta stage the ‘founders’ are fired from their day job and work on the experiment full time. While founders determine their own goals and metrics – these leaders are encouraged to be patient for growth but impatient for profitable economics. Like many founders these people also report to a ‘board’ regularly and are subject to evaluation on future funding. At its core this stage is about providing access to funding for entreprenurial folks with new ideas and transparency/accountability into the success of those early tests.

v1 – Scaling successful experiments

v1 projects have proven economics and now are looking to scale the success. Often this requires growing the team beyond the founders, building dedicated systems and developing regular tracking of core metrics. Founders with experiments graduated to v1 are now considered ‘mini-CEO’s’ and are tasked with running their project as a start-up within HubSpot.

We established this framework in the hope of driving innovation and empowering the entrepreneurial edges of our organization to create change. It seems to be working – we’ve had several successful founders graduate from the program (Pete Caputa with VAR programJordyne Wu with the Services Marketplace) and we created a culture to be proud of. It’s enabled us to focus on the core business without foregoing the entreprenurial engery and creativity of our team.

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