Eric Olden is the CEO of Strata Identity, an identity management company. Eric is a serial entrepreneur and visionary and has been transforming the way businesses navigate the complex world of cloud and hybrid security systems, having previously worked in a senior role at Oracle he is now leading one of the most innovative companies in the tech space. Eric joins Ryan to talk about digital identity, creating a new category in his industry and how he came to create the holy grail of identity management.
KEY TAKEAWAYS
- Strata uses a hybrid model to sell its software by using both the cloud and data centres.
- You can use a product-led motion to accelerate your sales cycle, giving you the best of both worlds.
- Almost half of the company is in sales or go-to-market in some way, showing prioritising these areas can help build sustainable growth.
- Strata’s software Maverick, decouples the application from identity security and allows upgrading external software without rewriting the application.
- The first task for Eric with Strade was to find the perfect product market fit, once this was achieved he focused his attention on how to sell the product in a repeatable way.
- Working at Oracle with customers who wanted to go to the cloud but had so many pain points to get to it is what gave Eric the idea for Strata.
- To create a new category in the industry, Eric had to first figure out if the problem is big enough. He interviewed people to assess their issues and pain points and how that would fit with the product.
- Strata used strong SEO and media presence to attract people to its product and then created content marketing around the use case of its product.
BEST MOMENTS
“It does for identity security what the m word did for compute”
“It’s really mission critical for some of the big enterprises because without it they’re stuck, they can’t move their applications to the cloud”
“You don’t have to convince us the cloud is where we want to be, the problem is getting there”
“Marketing and product-led growth are hand in hand, the intent is that we use the marketing effort to attract people and aware of the product so they can serve themselves”
“When we were doing product design we really mapped out the sales process and then made sure the experience and the product supported each thing”
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Ryan Staley
Founder and CEO
Whale Boss
312-848-7443
EPISODE RESOURCES
Strata.io/podcast
ABOUT THE SHOW
How do you grow like a VC-backed company without taking on investors? Do you want to create a lifestyle business, a performance business or an empire? How do you scale to an exit without losing your freedom?
Join the host Ryan Staley every Monday and Wednesday for conversations with the brightest and best Founders, CEO and Entrepreneurs to crack the code on repeatable revenue growth, leadership, lifestyle freedom and mindset.
This show has featured Startup and Billion Dollar Founders, Best Selling Authors, and the World’s Top Sales and Marketing Experts like Terry Jones (Founder of Travelocity and Chairman of Kayak), Andrew Gazdecki (Founder of Micro Acquire), Harpal Sambhi (Founder of Magical with a previous exit to Linkedin) and many more.
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