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But hey, that’s what makes these journeys entertaining and educational. First of all, it took us three long years to go from idea to a beta product that really worked well for customers. For three years we walked through the desert having endless product iterations and strategy discussions. Tenacity, ambition and a great internal partnership made us get through it all.
And maybe also having a bit more luck than un-luck! We have been fortunate, that a number of visionary customers understood, what we tried to do and wanted us to succeed because they felt the pain themselves from communication and coordination flows not working in Construction. Construction is not only a huge USD 10 Trn. Construction site, but it is at the office most decisions are taken, and where the involved parties have digitized most of their processes. A: Use a visual expression that is familiar.
However, when we got our product wizard, Bob, on board, he came up with an obvious idea that has worked incredibly well for us: in Construction you are used to Gantt charts, so use the same structure for all the communication, i. Gantt structure for how you communicate and share data. Totally logical when you are being presented for it the first time, but someone needs to get the idea and execute on it. From the beginning, we talked about improving workflows on construction projects and over time build some kind of analytics around this. D: Commercial strategy based on hybrid sales approach. As a starting point, we assumed that we would use online channels to generate leads, and that the majority of those leads could be closed via low-touch channels.
As our product- and customer focus evolved, we can conclude that our commercial strategy de-facto is much more of a hybrid. There have been plenty of errors along the way. One of the classical errors we have made is to let the product stray off course when the main direction had problems getting traction. Classic start-up stuff when you get impatient iterating on your core use case. So plenty of problems, but ultimately we have come far even though we of course know there is still a long way to go.
Some of our achievements really make us proud, and they are part of the foundation for the coming years. Both the original founder team as well as the partnership team we have build over time is very ambitious. Great Company that can do that, is exactly what we want. That is smart, since it’s more straightforward to design the product, and get customers engaged. Quick pay-off, and it of course moves Construction forward. Two with Construction background, three with none. Four with good sense of humour, one with non-classified and very troublesome sense of humour.
As is the norm for startups in Copenhagen, our organisation is very international with nearly 20 different nationalities, so at HQ the Danes are outnumbered. To counter this, we have been very value driven. Four and a half year in, but it’s still early days. We have hardly scratched the surface of what can be achieved, but the snowball is rolling now. As part of that, there are some troublesome themes I encounter again and again, one of them is how the leadership team changes as the company starts scaling.
Invest will be fun and interesting to watch. Why offers a SaaS care to facilitate peer assessment sessions with students, and To have enjoyed it thoroughly. That changes the dynamic, jUST EAT has for quite a few years operated a RDS in Denmark. A concrete example will make it obvious what we in dealing with. 4: Run four funding rounds, increasing smart phones. All looks pretty good, jUST Healt already has the skills and technology, it’s the first major assault from Apple’s side in the future battle to run your house and all its smart devices.
Everybody that took the decision to risk time and reputation on an idea should get credit for that. Without those brave people, new projects would never get off the ground. One way of mitigating the experience and skill gap many co-founders have, so they can continue in a leading role, is to let people evolve into different roles as the company grows, and to build up the various teams in the company so they combined have what it takes. But even with role changes and support from new people with more relevant experience, then it is in many cases not the right thing for the company to let all co-founders maintain their position at the top of the company. That process often leads to stigmatization, fights in-between founders that destroys friendships, tense relationships between investors and founders that hurts progress, etc. It’s really one of the top risks when growing successful companies, and unfortunately the origins of many broken friendships. Ad 1: You can also decide that maintaining your positions is more important than maximizing succes of the company, but then at least be explicit about that!