Brendan King is the CEO and founder of the number 1 digital solutions marketplace in the US, VendAsta. Brendan grew the marketplace from $5 million to $100 million in just 5 years. This is an insightful episode where Brendan talks to Ryan all about the evolution of the company as well as topics never previously discussed on The Scale Up Show!
KEY TAKEAWAYS
- VendAsta’s primary go-to-market strategy for revenue growth is an inbound model. They generate inbound demand and then qualify leads that they then close.
- Small businesses are often time poor. VendAsta aims to help these small businesses with technology so they can operate in the same way a larger business would.
- Brendan has always been an entrepreneur, he created his first business in university, resulting in a company which created over $15 million in sales.
- Early on in Vendasta’s creation, Brendan realised that companies needed a lot more services than they could offer and although they could start to build and provide some, it wouldn’t be possible to provide everything. This is what gave him the idea to create a marketplace where these other products could be found.
- Because Vendasta began in the marketing and advertising world, most of its vendors are media companies and website agencies. They in turn have focused on the products people would buy from these specific company types.
- The number 1 growth strategy that Brendan would recommend for revenue growth is to attain channel partners, it creates a flywheel for more vendors which then leads to even more channel partners and becomes a continuous growth cycle.
- The marketplace Vendasta creates has to be curated and trusted. It’s essential that they only allow quality vendors whilst creating the right amount of choice.
- One of the biggest challenges Vendasta has faced and is still facing is to get the right talent needed for them to keep growing, particularly in senior management.
BEST MOMENTS
“The way to help them is to give them access to those products and services that all the vendors have and the folks that actually implement them”
“Sometimes you’re telling the truth a little bit in advance when you’re a small company”
“We’re a lot more specific about vendors we let on the marketplace because that’s our reputation on the line there”
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Ryan Staley
Founder and CEO
Whale Boss
312-848-7443
EPISODE RESOURCES
https://ca.linkedin.com/in/brendanking
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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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