Unbreakable rules to get to a $100M rev run-rate
Andy Kurtzig reveals to Reena Jadhav at Vator Splash
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?
Reena A Jadhav
Reena Jadhav is a 4 time entrepreneur (Done.com, Conduit, JobFlash, Riiwards), now working on HealerPedia.com, start-up Advisor, and Investor with Valley incubators. Harvard MBA, Summa Cum Laude Wharton Business School.
All author postsRelated Companies, Investors, and Entrepreneurs
Pearl.com
Startup/Business
Joined Vator on
Pearl.com is the world’s largest source of professionals online, and provides people with easy access to 10,000 independent, verified professionals in 700 specialties for one-on-one answers to just about any question or concern. Whether you need a medical explanation, help with a legal question or a way to save money on your car, tech or appliance repair, Pearl.com gives customers access to “wisdom when you want it™.”
Formerly known as JustAnswer®, the company has been growing revenue an average of 123 percent year over the last five years and currently generates revenue in 196 countries and 22 currencies. Pearl.com was founded in 2003 by serial entrepreneur Andy Kurtzig as a way for his then-pregnant and worried wife to talk with an OB/GYN about her round-the-clock health concerns in a more convenient way. Today, the company has evolved into a platform for people around the world to communicate directly with verified professionals in hundreds of categories as varied as pet behavior and tax law to antique appraisal and computer repair, anytime, from anywhere, affordably.
Recognized by the Better Business Bureau with an A+ rating and boasting relationships with brands such as Dr.Phil.com, PetMD and Car Talk, Pearl.com is now one of the largest and fastest growing providers of access to professional services online. The company has increased revenue for 33 quarters since inception and grown an average of 123% per year since 2008. The Board of Directors includes Charles Schwab, Larry Sonsini (Observer), Bob Finocchio and Sandy Robertson.
Andy Kurtzig
Joined Vator on
CEO of JustAnswer; Investor in Vator Investment Club (VIC)
Reena A Jadhav
Joined Vator on
Reena Jadhav is a 4 time entrepreneur (Done.com, Conduit, JobFlash, Riiwards), now working on HealerPedia.com, start-up Advisor, and Investor with Valley incubators. Harvard MBA, Summa Cum Laude Wharton Business School.