Congratulations to our very own Tim Webb, EquivaQ CEO, for his 1 Million Cups Stillwater presentation!
And a grand word of gratitude to 1 Million Cups, for inviting Tim to inspire the Stillwater community!
Tim engaged 30-40 local entrepreneurs, Chamber of Commerce members and other distinguished Stillwater guests during his presentation.
If you missed this exciting event, but are reading this blog, you’re in luck!
Read on to discover how Tim turned his 100K company into a 300K company in one year!
What Did Tim Have to Say about Business Growth as an Entrepreneur?
Tim began by sharing that EquivaQ thrives no differently than any other company.
He confided that EquivaQ’s story began with blueprints. He illustrated how blueprints have always been utilized throughout the value stream and have been valuable to his business growth.
Engineering is where designs happen.
The Supply Chain is where parts are purchased and inventories are built.
Manufacturing is where product is manufactured and shipped.
What are common Problems caused by Metadata?
Second, Tim presented customer problems surrounding metadata, including the 3 biggest pain-points:
2. Working without the right data system tools
3. Transferring designs to the value stream
What Does EquivaQ's Model Look Like?
Using our business and sales model EquivaQ resolves issues the following ways:
1. Monthly support revenue
2. Annual subscription revenue
What New Problem Did EquivaQ Encounter?
Tim presented a new problem encountered along EquivaQ’s journey: "How do we bring EquivaQ to market?"
As most entrepreneurs and business owners know, you can be great at your job but you still have to let potential customers know about it through strategic marketing.
He highlighted typical venues (including social media, blogs, trade shows, conventions, newsletters ) which serve well when businesses already have an established audience; however, the question of how to acquire new clientele needed an answer.
When they first launched, EquivaQ had used excel sheets as their CRM tool, but knew they needed more!
They found answers through taking at look at Inbound Marketing offered by Vested.
How Did EquivaQ Triple Its Revenue in One Year?
To his audience’s delight, Tim effectively drove home how EquivaQ’s investment in Hubspot sales, marketing tools and a partnership with Vested Marketing in August of 2018 immediately sky-rocketed the company’s revenue!
It's true, EquivaQ jumped from a 100K company to a 300K company in one year!
Tim wrapped up his presentation by affirming that we at EquivaQ no longer look for opportunity, but for problems to solve.
Now, our energy can focus on solving these problems.
Want To Learn More?