Popular media would have every new entrepreneur believe that it takes a lot of capital to build a successful business. While it does take capital, it doesn’t take a visit to the Shark Tank, an angel investor with cash, or a venture firm willing to invest millions to build a profitable and successful business.
I recently spoke with John Sperry, CEO of InMoment, an online platform designed to give companies a way to listen to their customers and optimize the customer experience. A tech CEO who didn’t rely on investor capital, Sperry and his other founders relied on creative problem solving (and a little bit of personal sacrifice) to get their business off the ground. Now, 13 years later, they are a growing tech company with offices in Birmingham, UK, and two offices in Canada, in addition to their headquarters here in the U.S.
While every small business owner that bootstrapped their way into existence will admit it can be a tough row to hoe, Sperry’s story is a great example of how it can be done—even though InMoment is a high-tech company that would have probably been able to find venture capital.