Episode 91: Balancing Your Resources Is the Key to Startup Success with Bob Bickel of GiveSignup and RunSignup
Bob Bickel, Founder at GiveSignup and RunSignup joins co-host Ledge to share how he converted his passion into a great startup company. Bickel has been a passionate runner since his collegiate athletic days. He built RunSignup to help race organizers like nonprofits efficiently raise the supporter experience.
Bickel cautions new founders who go all-in with their vision, convinced that their product is the new unicorn. Bickel urges founders to be cautious but not in a paralyzing way. Ensure that the product is a fit for the market before getting too ambitious. Constant testing and data-driven decisions are needed before huge capital decisions.
Bickel’s approach is consistent with how he grew RunSignup and the incubation of GiveSignup. He methodically studies the market share and determines the right customer profile. He found a need for a solution—race organizers didn’t get what they needed from various software platforms. He then studied the feasibility of it in the market. With limited growth and the market capping at about a billion dollars annually, it was still worth it as he saw the capacity to capture a big chunk of this market share.
This same limited growth is what has fueled Bickel’s companies to be hyper-focused on customer success. The average revenue per customer is $300 in the first year, but that grows exponentially to $3000 in the tenth year. Great customer experience tied into their success has enabled them to have great relationships with customers.
Startup founders will benefit from the wealth of experience Bickel brings to the table and shares on this episode. His deliberate, analytical approach combined with his passion for customer success will provide great insight for your business.
Website - bobbickel.com
Email - bob.bickel@givesignup.org
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