Company Stats:

• Founded: 2007
• Revenue: Just under 20 million
• Employees: Under 40

Episode Highlights:

• ✅ We started DevHub in 2007, now generating just under 20 million in revenue with fewer than 40 employees.
• ✅ Licensing our software to media companies was a game-changer, leading to significant growth.
• ✅ Focusing on franchise markets reveals the importance of local marketing and multi-location strategies.

Episode Summary:

In this episode, we speak with Mark Michael, founder of DevHub, who shares insights on scaling a business to just under 20 million in revenue with fewer than 40 employees. Mark discusses the journey of founding DevHub in 2007, the initial challenges, and the pivot to licensing software to media companies. He emphasizes the importance of understanding market needs and finding the right niche. The conversation also delves into the value of websites, especially during the pandemic, and how focusing on franchise markets has allowed DevHub to thrive. Mark offers valuable advice on acquiring companies and the significance of client relationships in driving growth.

Notable Questions We Asked:

Q: What year did you found DevHub, and how much revenue have you built it up to now?

A: Founded in 2007, DevHub has grown to just under 20 million in revenue.

Q: How many employees does it take to run a business generating 20 million in revenue?

A: DevHub operates with under 40 employees.

Q: What was the turning point for DevHub in realizing the value of your platform?

A: The pandemic highlighted the importance of websites, as businesses needed to maintain their online presence, making our platform more valuable.

Q: Why did you decide to focus on the franchise market?

A: Focusing on franchises allows us to target a broader audience, emphasizing local marketing and multi-location strategies.

Q: What insights can you share about acquiring a company for growth?

A: Acquiring a company is a significant step that involves being respectful and understanding the legacy of the business you're taking over. It's about continuing their legacy in a new world while advancing your own company.

Chapters:

00:00 Intro

00:09 Company Stats

00:27 Early Challenges

01:17 Pivoting and Licensing Software

04:24 Focus on Franchise Market

08:11 Acquisition Strategy and Insights

11:21 Connect with Mark

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#BusinessGrowth #Entrepreneurship #FranchiseMarketing #TechStartup #SoftwareLicensing #PandemicPivot #ScalingBusiness #LocalMarketing #BusinessStrategy #CompanyAcquisition