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 Mark Thompson, founder at SponServe.
In 128 words or less, explain your business idea
SponServe is a software platform that streamlines and enhances sponsorship servicing and inventory management through simple to use cloud software. Our innovative software solution not only takes the pain out of the complexity of sponsorship management but also solves the issues sponsorships have around proving value/ROI, and providing delivery of sponsorship agreement over the course of the engagement.
SponServe caters to both the brand and sponsor side of the business. We count some of the largest names in Australian sport, multiple English Premier League clubs and other top-tier organisations as loyal customers.
Since its inception in 2015, SponServe has quickly grown to service over 100 clients across 8 countries.
What strategies are you using to grow and finance your idea?
Initially, the system we self-funded and boot-strapped off early sales. Since then we have used strategic investment to grow needed finance to lead quicker growth and expertise within the business.
Investors have been a mixture of self-sought and through the use of an investment advisor.
How do you differentiate your business from your competitors?
We pride ourselves on having real market experience across a global perspective.
We also have a great development team and a focused and engaged group of clients who are invested in making our product better by being involved in the development. This keeps us relevant and ensures that everything we do is solving real pain-points for our clients with a focus on best-practice methods of doing it.
What’s the biggest challenge facing your business?
We pride ourselves on having real market experience across a global perspective.
We also have a great development team and a focused and engaged group of clients who are invested in making our product better by being involved in the development. This keeps us relevant and ensures that everything we do is solving real pain-points for our clients with a focus on best-practice methods of doing it.
What one phone, tablet or PC application could you not live without?
It’s hard to split between Facebook (personal) and LinkedIn (business).
What’s the best piece of business advice you’ve ever received?
The best tool to sell is to not speak, to ask key questions and then just sit back and listen.
Sales prospects will tell you the information you need to sell to them if you allow them to.
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