Elevator Pitch is a regular feature on Lifehacker where we profile startups and new companies and pick their brains for entrepreneurial advice. This week, we're talking with Jason Wyatt, Co-Founder of Marketplacer.
In 128 words or less, explain your business idea.
We create globally successful marketplaces. Marketplacer is a SaaS based product that allows people to create big marketplaces fast. We provide the technology, systems and processes and the entrepreneur focuses on gaining market share, customer experience and marketing.
We have been building marketplaces since 2007 and we understand what it takes to win. With 2 million people using our marketplaces monthly, we have created successful marketplaces globally such as www.BikeExchange.com.au, HouseofHome.com.au, TiniTrader.com.au and Outdoria.com.au
What strategies are you using to grow and finance your idea?
Scale. All of our revenue strategies revolve around scalability. They have a low entry point but scale according to the results we achieve for our customers. Low entry and only pay for the result you receive. The more we deliver the more you pay. Win, win.
Our business has been self-funded until recently where we secured a Series A investment of $10 million from people such as David Paradice and Gerry Ryan.
What's the biggest challenge facing your business?
We are always looking to attract more talent. We believe we have created a wonderful, balanced environment for people to succeed. However, with the rate of growth in our business we need to continue recruit passionate people that want to be part of our incredible journey.
How do you differentiate your business from your competitors?
We are unique. There is no other successful marketplace platform that has opened their technology up for others to use. We accelerate marketplaces 10 years in a day.
That said we will always heavily invest in our product to ensure we are the leading marketplaces solution.
What one phone, tablet or PC application could you not live without?
FaceTime. Without it I would not be able to see my wonderful family when we are apart.
What's the best piece of business advice you've ever received?
One strategic decision is worth one thousand operational ones. Leaders often spend far too much time working on the day to day and don't focus on game changer opportunities.
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