[Episode 13] The Path to 1 Million Users. Twice.

Theban Ganesh North Forward Consulting Episode 13

Theban Ganesh has built and sold two different businesses that have attracted over 1 million users.  In today’s conversation, we cover the rise and exit of his two startups, why he chose to go back to corporate after his first, how to choose a co-founder, and most importantly, his advice to companies that are struggling to gain traction with their products.

Learn how Theban would start his next company in our bonus episode at www.launchandlead.com/tgstart

 

This week’s question:

What’s the most important part of building product?

“You have sometimes in less than a minute in today’s world to get the person to that a-ha moment.  The most important thing is to first define that a-ha moment and then determine what retains users the longest”

Get exclusive member-only conversations with our guests and stay-up to date on new releases:

Questions:

  1. What was your path to starting your first company?
  2. Describe how you built your first company and exited to Zoosk?
  3. Why did you go back to Corporate after you exited your first company, and why did you make the leap to starting another company after three years?
  4. What should a company struggling to gain traction with their product do?

Key Takeaways:

  • Spend the time to find the right Co-Founder:  Don’t make the fatal mistake of a co-founder of opportunity – they have the same interests, they are a friend or just happen to want to start a company at the same time as you.  It’s about finding a good fit.
    • Are there complementary skill sets?  Is one more technical and one with a strong business background?
    • Do they have the experience doing the things they will need to do in the startup (e.g., customer acquisition)
    • Do they have a similar value system to you – care for excellence, drive, passion, integrity
    • Do they have similar reasons for why they’re in it – are they looking for a quick exit and you’re looking to build a large, sustainable company over a decade?  That could get problematic pretty quickly.
    • Do you know how this person reacts under pressure, when conflict arises – do they fold, get angry, defensive – is that going to work for you?
  • Iterate until you hit product market fit: For a full conversation on how Theban would start his next company and find product market fit, check out our bonus episode at www.launchandlead.com/tgstart

Interview Links:

Please help us grow by rating us on iTunes: