The Multiplier Effect: How Focus Can Grow Your Startup

in #business7 years ago

Have you ever booked a stand-up comedian and ordered 100 mylar balloons in the same day? I have.
In 2010, Mark McDonald and I were running a company called Pathway to Genius. We were both 18. It was an educational service that developed audio and video content to help students prep for mid-year tests.
We also hosted full-day review sessions led by top teachers in their fields. Mark and I thought that a more “party-style” atmosphere might sell extra tickets and build buzz — and that’s where the balloons came in.
The events were successful. Students loved the fun vibe and kindly overlooked the fact that we’d sold 800 tickets for a 600-seat venue.
Our profit margins were paper thin and we pissed off our competitors by (massively) undercutting their prices and stealing their customers.
We could have fixed our mistakes and built a viable business, but Mark and I weren’t satisfied.
We wanted to work in an industry that was growing fast — a market where you could gain serious momentum just by putting your raft in the river.
At this point, the App Store had been around for about 3–4 years, but we still saw massive potential in the mobility market.
After tossing aside our first, albeit horrendous branding and naming efforts (RIP Glen’s Apps), Mark suggested “Appster” and we immediately knew it was right. We put on our headphones and got to work.

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