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Conversation
Highlights
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Avi Singer, CEO & Founder of Showd.me, a compliance training platform that has raised $4.5 Million in funding.
Here are the most interesting points from our conversation:
- Pivoting to Compliance Training: Initially, Showd.me focused on peer-to-peer learning, but Avi pivoted the business to online compliance training in 2016 after realizing the compliance industry had a consistent, recurring need that wasn’t being addressed well.
- Moving from ‘Nice to Have’ to ‘Need to Have’: Avi strategically shifted from the “nice-to-have” social learning market to the “need-to-have” compliance space, ensuring a steady demand due to regulatory requirements.
- Capturing Existing Demand: Avi shared how Showd.me doesn’t need to create demand, as compliance is mandatory. Their focus is on providing a better product and understanding customer pain points to differentiate from competitors.
- Bootstrapping vs. Raising Capital: Avi has largely bootstrapped Showd.me, appreciating the flexibility it offers in building a sustainable business without the pressures of constant fundraising.
- Client Referrals as a Key Growth Strategy: Rather than relying heavily on outbound marketing, Avi emphasized the importance of client referrals and maintaining strong relationships with existing customers, which have been a primary driver of growth.
- Scaling with Fundamentals in Place: Avi expressed his focus on scaling Showd.me without compromising the quality of the product or the company culture, emphasizing that a strong foundation is key to long-term success.
Actionable
Takeaways
Prioritize Need-to-Have Solutions:
When choosing your market, focus on providing essential services that businesses cannot avoid, like compliance. This ensures a steady, recurring demand for your product.
Don’t Rush Growth—Focus on Product Quality:
Avi’s strategy of growing slowly and prioritizing product excellence over rapid expansion allowed Showd.me to build a solid foundation before scaling.
Client Referrals Can Be More Powerful Than Outbound:
Instead of aggressively pursuing new customers through outbound marketing, cultivate strong relationships with current clients who will naturally advocate for your product.
Consider Bootstrapping to Maintain Control:
Bootstrapping offers freedom and flexibility in building your company on your terms. Avi’s journey with Showd.me highlights the benefits of growing a business without external pressures from investors.
Capture Demand by Understanding the Market:
Avi’s strategy for Showd.me centers on understanding the unique challenges of compliance in healthcare and building a solution that truly addresses customer needs.
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