A pivotal life moment led Ken Simpson to decide that he only wanted to pursue his passions in life. He partnered with another young engineer to found MailChannels to tackle the problem of email spam. A decade and several financings later, they are gaining traction with some of the largest ISPs and telecom companies in the world.
It took Ken a decade, but he has found a sweet spot in the market where his company can make a difference in the battle against spam. The lessons he learned along the way include:
- A CEO has to learn marketing and sales, including market needs and how to manage sales people and the sales process.
- It takes tremendous tenacity to continue financing and building a business.
- A peer group of CEOs has been a key factor in Ken being able to continue.
- A change in business model, from yearly to monthly subscription fees, had a disproportionate impact on MailChannels’ cash flow.
- It’s no fun being almost out of cash. Believe in yourself and what you have created, finding creative ways to manage your cash and keep going.
We are all inundated with spam every day, which experts estimate comprises over 75% of all email. Thankfully, there are people like Ken Simpson and MailChannels who fight the battle every day to remove spam from our email environment.
These insights were taken from the Financial chapter of my book Wind In Your Sails: Vital Strategies That Accelerate Your Entrepreneurial Growth. Learn more at windinyoursails.coachdjgreer.com.
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