As a result, Infusionsoft has grown to become a recognized sales and marketing software company serving small businesses—boasting 30,000 customers and 100,000 users. With a recent Series D round of secured capital (to the tune of $55 million) financing led by Bain Capital Ventures, they are poised to deliver on their mission fast and furiously.
Universal Small Business Truths
In closing, all three co-founders revealed key lessons learned along the way — three universal truths that can make your small business work:
“Invest in your marketing even when it’s uncomfortable.” – Scott Martineau, co-founder and SVP of Product Strategy
Scott remembered how tough it was to invest in marketing at the start of their business, but now realizes it was well worth it. “Eric and I decided early-on … that if we invest out in front of this it will work. So, we said ‘We’re going to put Mark on our payroll.’ Mark was our marketing budget.” And “there were months that it did not feel good to pay Mark first.” Meanwhile, they realized their marketing investment was not just about money – “time is a big deal as well,” Martineau added. “Every Wednesday we would [go to a local bakery that had Wi-Fi] and execute our marketing campaigns.”
“Follow-up works.” – Eric Martineau, co-founder and Chief Software Architect
We know follow-up works but “why is it that so many of us don’t? … Fear is what keeps us from taking the action that we need to do to grow our business,” Eric suggests. In fact, “Winning in sales happens in the follow-up. Be relentless,” says Forbes contributor Steli Efti, the CEO of Close.io. “Research suggests only one in 50 deals are struck at a first meeting, yet many sales people give up after just one or two knock-backs. Perseverance will give you a major edge on competitors, says founder of Marketing Wizdom, Robert Clay.” (The Marketing Donut)
“Automation is the great game changer.” – Clate Mask, founder and CEO
Automation is a key component to small business success as it delivers on two key priorities: cutting the time spent on business activities and reducing the money spent on completing business processes. Infusionsoft’s co-founders admit to finding their aha! moment when they clearly understood the role automation played in scaling their business. The ability to streamline, reduce inefficiencies in the sales and marketing process and reinforce accountability made growing their small business much more feasible. “Recognize that automation can literally change the game,” said Scott Martineau.
This week ICON15 brings together 3,000 small business owners and entrepreneurs from around the world to network, learn and share business growth strategies. The speaker lineup includes author and entrepreneur Sally Hogshead, and Johnny Earle, founder of Johnny Cupcakes and Americas #1 Young Entrepreneur by BusinessWeek. Winners of the 2015 Small Business ICON competition will be announced April 1 at the conference. To learn more visit attendicon.com and join the conversation at #ICON15 on Twitter.
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