The other day, I had the opportunity to attend an event where four founders of billion-dollar companies were speaking in a round-table format discussion.
Todd Pedersen is the founder of Vivint, a home automation company based in Provo, Utah, that sold to Blackstone for $2 billion. Josh James is the founder of Domo, a business intelligence software company based in American Fork, Utah, which recently raised a $200 million round valuing the company at $2 billion. Ryan Smith is the ounder of Qualtrics, a survey software company based in Provo, Utah and isvalued at more than $1 billion. And David Elkington is the founder of InsideSales, a sales software company based in Provo, Utah that recently received a $1.5 billion valuation.
The discussion was centered on their journeys as entrepreneurs, what they’d learned, and the advice they’d give aspiring entrepreneurs. Impressed with their casual demeanors, stellar presentations and informative advice, I thought I’d share with you some of the insights that were gained from these successful entrepreneurs.
Find something that drives you
Entrepreneurs need to be driven by a desire to proves someone wrong.
To demonstrate this point, James told the story of having a cordial conversation with a potential investor who seemed very interested in his first company (Omniture). During the conversation the investor abruptly said, “Where are you based?” James responded that he was located in Utah. He recounted that the investor stopped talking, didn’t say goodbye and simply turned around and walked away.
James described this event in perfect detail, even though it had occurred almost 20 years before.
He could do this because he thought about it often: It was a seminal moment for him. As he stared at the back of the head of the investor as he walked away, he determined that not only would he make his company a success, but he would also work to build the reputation of Utah as a tech hub.
Originally posted 2015-10-12 06:19:56. Republished by Blog Post Promoter