2 min read
The SimplyCast Story Part 23: Risk & Rewards on the Bleeding Edge
Many technology companies live life on the leading edge. These companies create solutions that are innovative and help improve current technology. They create the best of the best when it comes to the technology consumers use right now. It is exciting to work with leading edge companies, because they are the ones setting the standard. These companies are the experts, whose lead other companies follow.
Then there are the companies that forge their existence on the bleeding edge. The ideas and technology generated by these companies are so new and so raw that many investors will not work with them. These companies are creating technology that has not yet even been adopted by consumers. Because the technology is so new, it carries a high degree of risk. Will it test well? Will it perform as expected? Will consumers want to use it? Will consumers even be ready to try it? Is the expense to create it too great if it doesn't immediately provide a financial return? Investors who do support these companies are investing in ideas at first.
Companies that work on the bleeding edge are the innovators of the future. They predict the technology that consumers will need before the market even exists for it. If the company is successful, if their ideas come to fruition and their technology is adopted, the returns can be great. These companies will be recognized as leaders in their industry and they will capture a large portion of the market because they are the first and often the best.
SimplyCast was born as a bleeding edge company. When we set out, email was the name of the game. Other communication methods were beginning to come to prominence, but other companies were not capitalizing on multi-channel communication yet. We knew, however, that as the number of different ways to communicate increased, the need to manage all these channels would also grow. Instead of focusing on email, SimplyCast began developing SimplyCast 360, our all-in-one marketing and communication solution. SimplyCast 360 includes over 15 tools to help businesses and organizations conveniently manage all their communications from a single platform.
There were doubters in the beginning, as we have described in earlier stories. Businesses were not yet using multiple methods to reach their customers, so the demand for this technology was low. SimplyCast did not waver, however. We knew we would be rewarded. As the market for multi-channel platforms began to appear, SimplyCast started to gain recognition. Gartner began to write about us, and the company gained recognition as one of the most promising startups, a technology innovator, a popular new software and the local business of the year. The SimplyCast team was honored and excited. We capitalized on these accolades and continued to optimize our tools and attract customers. SimplyCast is still growing today!
New businesses often ask our team to offer advice that we have learned while growing SimplyCast. The main learning point we gained while existing on the bleeding edge is this: believe in your idea. If your idea is new and risky, many people are going to tell you not to do it. They will say you will never be successful, they will not believe in you and they may not even support you. If you do not believe in your own idea, you will never convince investors and consumers that your technology is worth it.
Read more of the SimplyCast Story here.