Bill Clerico

Bill Clerico

Bill is co-founder and CEO of WePay.com.

Website: www.wepay.com
Palo Alto, California, United States
Member since February 29, 2012
  • About

I am a(n):

Entrepreneur

If you're an entrepreneur or corporate innovator, why?

Serendipitously fell into it...

My favorite startups:

Kiva, Dropbox, Weebly

What's most frustrating and rewarding about entrepreneurship/innovation?

At WePay customer support is the most important part of our business model, but every once in a while someone is unhappy and it's crushing. Also, in our business, antiquated banking technologies that impede innovation can be frustrating but we're making good headway at improving them and insulating our users from them.

The most rewarding thing for me is being able to offer people a truly simple online payments solution that frees them from the hassle of exchanging checks and hounding people for money. Another rewarding thing is knowing that each and every employee I hire has the same goal - to change payments. Especially since we are growing so fast, it makes you feel like you're on a winning team every day.

What's the No. 1 mistake entrepreneurs/innovators make?

Not listening to customers and just trying to develop products they think they'll like in a vacuum. Customers might not know how they want a product to be designed, but they know what they want to use it for, and it's imperative to pick up the phone and talk to them regularly. You really need to be flexible. WePay would be out of business if the product we set out to make was what we actually brought to market, but at the beginning we talked to each and every customer that used the product and learned what they wanted.

What are the top three lessons you've learned as an entrepreneur?

1. Listen to your customers - in both words and actions
2. Hire only excellent people
3. Treat each customer the way you'd like to be treated if someone was handling your money

Full bio
Bill is co-founder and CEO of WePay.com. Before joining WePay, Bill worked in technology investment banking at Jefferies & Company, where he advised enterprise software, digital media, and financial technology companies on M&A and capital market transactions. Previously, he worked for the U.S. Army's Communications Engineering Research Command and in electronic trading at Goldman Sachs.