Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Kristin Luck, Founder of ScaleHouse, located in Bend, OR, USA.
What's your business, and who are your customers?
ScaleHouse is a management consulting firm dedicated to growing, optimizing, defending, and perpetuating enterprise value for companies in the marketing technology and services sector. We provide a unique service offering focused on the development and implementation of field-tested methods that include offensive and defensive strategies targeted to achieve growth and value-maximizing objectives. Our typical clients include Founders/Executive teams and Private Equity firms.
Tell us about yourself
I launched ScaleHouse after I sold my last marketing technology firm (Decipher) in 2014. After I exited, I had to really sit down and figure out what I wanted to do next, career-wise. What I came to realize was that it wasn't the starting of firms that I really loved, but growing them and all of the challenges that come with leading a high-growth firm. I thought if I could spend my days working with CEOs and executive teams to help them achieve the same success that I've had (and avoid many of the mistakes I made), that would be the most fun I could have. And so ScaleHouse was born!
What's your biggest accomplishment as a business owner?
I have scaled and sold three marketing technology businesses to Private Equity. Three successful exits feel like a major accomplishment!
What's one of the hardest things that come with being a business owner?
There comes a time when you need to stop working IN the business and work ON it. This is one of the toughest transitions for many Founders, but it's imperative to growth.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Ensure you have a strong understanding of product/market fit BEFORE you launch. Poor product/market fit is the #1 reason start-ups fail.
- Have a business plan AND a financial model in place that includes best AND worst case scenarios. Understanding the financial levers you need to pull at each stage of the business helps with cash flow management AND decision-making when the stakes are high.
- Surround yourself with friends/advisors who have strengths that complement your weaknesses. For instance, if you're not great at business finance, make sure you have a CFO in your circle whom you can bounce questions with.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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