Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Robert Tallack, CEO at ConversionPoint Technologies:
What does your company do?
At ConversionPoint Technologies we are focused on helping brands, advertisers and agencies sell more online, drive down costs of customer acquisition and boost lifetime value through our family of technology solutions. How we got here is an interesting story. Traditional retailers haven’t evolved their e-Commerce strategies to compete in the post-Amazon era and they’re losing ground daily. Brands and advertisers often have no clue how to nail down their most important metric: how much did it cost me to acquire that new customer? And sellers don’t know what content or media is effective in driving their online sales. In all, it’s become a big guessing game.
What is your role? What do you enjoy most about your role?
I’m the CEO of ConversionPoint and I love that we are doing something that hasn’t been done before in e-Commerce. It excites me and to keep that fire stoked, I’ve surrounded myself with people I admire in business (successful CEOs and industry veterans) and talk through them with a trusted group of people. Then we operationalize the idea. That is my sweet spot and something that makes the high-level strategy planning of a CEO feel more tangible, that I can take an idea from concept to actuality with my teams.
What are the biggest challenges in your business right now?
Our biggest challenge at the moment is the merger of three companies. Operationally, our company was born from the merger of two e-Commerce marketing companies and in December of 2017, we acquired Sellpoints, Inc. All of the companies under ConversionPoint are best of breed e-Commerce technologies, but there are areas where we know we can integrate solutions as well as offer something even more unique to our customers. We are taking our time to create a roadmap and really get to know each other's IP before making big decisions.
If you could go back in time, what business advice would you give to a younger version of yourself?
“It is going to take much longer than you think.” Launching my first startup when I was 20, I figured I would be retired when I was 25 based on my projections. I had the idea that things would move as fast as I work or as fast as I wanted them to, and I was very wrong. Everything you work on is going to take much longer than you think and much longer than you want, but if you stay focused you will eventually reach your goals.