Pearl.com is connecting 10,000 experts with people in need and generating big money doing that. Andy shared his top three unbreakable rules for his success:
1. Market Need: Find out what customers really want and be truly customer need driven. Yes, we've all heard this one before but the key is how Andy went about proving market need for Pearl.com. He spent a month building a website and about a month marketing it. The result was thousands of people using the site and money started rolling in. That was the proof of market need. If it takes too long to get customer traction you have to question the market need.
2. Great People: Make sure you only work with great people – employees, board members and anyone else associated with the company. Question is how do you decide who's great? Andy specifically looks for three things - people who are smart, who are fun to work with and people who can get things done. For these three high level character traits Andy has created further qualifiers to ensure only the right people get hired at Pearl.
3. Big impact and Big Markets: Focus on making a big impact in a big market. Andy talks about big sectors such as healthcare, financial services and recommends finding a larget market. More importantly how big is your impact? With Pearl they are getting real professional help to people in need and that's a big impact on a daily basis regardless of business metrics. His parting advice is to make sure you are truly helping people.
So, does your startup or idea break the rules above?