The podcast hosted special guest and all-round nice guy Dan Tyre. Dan is a Senior level software executive, advisory & governance board member.
He has quite the background with over 35 years in business. Dan has spent the last 10 years at Hubspot and promoted the Inbound method all over the world, helping make Hubspot a global powerhouse. Before that he successfully sold off his first startup for 1.5 billion dollars and been involved or worked at 3 other startups.
Mr Tyre is at the heart of Hubspot's core tenet of 'Smarketing', which is a combination of Sales and Marketing. This is the foundation of the Inbound method.
Right time to scale
Every startup goes through three stages:
- Ideation: Work out what you're trying to do
- Proof of concept: Contrary to what many think, don't have to have a fortune to reach this stage. Work on approaching investors with 'proof in the pudding'.
- Hustle: Go out there and make it happen
Secret behind Inbound
There is no secret. It is well known that consumer behaviour has changed over the last 10 years and the data shows that. That is why, the concept of converging sales and marketing came about, 'Smarketing'. This process transitions from trying to shove the product down a customer's throat and focuses on using data to make them your best advocates.
By making customers passionate advocates of your product through the value you provide them, you are creating your own competitive advantage.
With increasing technology, it's easy to be taken by the ever-evolving tech scene. However, Inbound's principle is to use technology only to make business more human. It is easy to lose the human element when you're focus is building a technology.
This feeds into the fact that as a result of the age of convenience we live in, the consumer has become ever more demanding. The consumer is no longer willing to wait due to the ease with which things can be obtained. Therefore, automation and technology can help improve our humanness in such a high-paced environment.
Young entrepreneurs need to trust their instinct. Everybody's unique, so go for a path that suits your style. It's important though, to understand what you want to do. From there, you can work backwards and fill in the gaps. It's important to understand that you don't have to go ti alone, it's always better to work it others. At least bounce it off others to test your ideas and receive feedback.
Another thing to appreciate is that the difficulty doesn't lie in starting a company, but instead in scaling the company. That's where Dan has made a name for himself, becoming an expert in scaling businesses in hyper-growth environments.
He advises those starting out to write a business plan detailing the core aspects of the business. This should include the purpose, where you want to take it and a basic idea of how you will achieve those things. The next part and most important part is getting it done. Execution.
Need to hustle hard, because without the grind and hardwork, there will be no fruits to your labour. He reminds us that anything is possible so don't limit yourself and don't be afraid to talk to someone. He even generously offers his own counsel should you find no-one else to connect with.
We thank Dan for his insightful and enthusiastic conversation about Hubspot, the Inbound method and the human element.
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