Insight
Elfond: 'Fail fast' dogma fails in niche markets where failures are remembered
“In all the startup schools, they'll say, they'll tell you fail fast and learn from it. Great learning when you have a huge industry and you can sell to as many people as you can and you'll never remember the people that you failed with. Not in the smaller indu…”
Insight
Elfond: Niche enterprise markets unlock large TAMs via product and geographic expansion
“Small niche industry means smaller dressable market. Don't agree with that either, because once you establish yourself, once you have a reputation, they want to buy more from it. So from you, there's a lot of opportunities for expansion. You can also expand, n…”
Insight
Elfond: Enterprise buyers will always question mission criticality before purchase
“Is this mission critical? That's the question you'll always be getting, regardless whether you are mission critical or not. And there are very few instances when you can actually prove it without, before getting into a customer.”
Insight
Elfond: Customer-published press releases are worth offering discounts for
“If you're doing press releases, it's very important to make sure that they're published by customers, not by you, because it adds a lot of credibility. Sometimes there's a lot of back and forth on that. Sometimes you have to provide the discount for that, but …”
Insight
Elfond: Niche software companies can enter adjacent verticals via messaging tweaks
“Every industry has adjacent industries, adjacent verticals that with small modifications, primarily on the messaging, you can actually go ahead and with your, with having proven a value and having great metrics into, in that industry, you can actually go and c…”
Assertion Not checkable as stated
Elfond: Rallyware evacuated all but three of its 82 Kharkiv employees
“Now we only have three people in, in Kharkiv out of 82. Everyone else was left the city and the country since then”
Assertion Not checkable as stated
Elfond: Rallyware hired international rescue agents to evacuate trapped employee
“We ended up hiring international rescue agents to get it, like, this is a story for a movie. It, it's been incredible. He is now in Toronto.”
Assertion Not checkable as stated
Elfond: Rallyware Revenue Is Over $7.5M with Accelerating Growth
“We'll actually, we're at around slightly above 7.5 and As you can see, the revenues, interestingly, like, the growth is, has been, ah, actually accelerating rather than decelerating over the years”
Assertion Not checkable as stated
Elfond: Rallyware had 82 employees in Kharkiv at the Russian invasion start
“We had 82 people in Kharkiv, Ukraine, 20 minutes from the Russia border.”
