Seeing Growth in a Downturn with Eran Ben-Shushan & Gigi Levy-Weiss
In this episode, Eran Ben-Shusham, a seasoned entrepreneur, shares his company's journey through a business model pivot. He discusses the critical role of speed, execution, and strong company culture during a crisis. The conversation also delves into the shift towards virtual events, dealing with new customer needs, and the challenges of scaling during a pivot. Additionally, Eran speaks on the emotional impact of a disappearing core business and the importance of maintaining company values throughout the transition.
Key Points
- Cultivating a company culture that emphasizes values like humility, daring, and positivity can enable a startup to pivot successfully and navigate crises effectively.
- Transparent communication with both employees and investors, focusing on over-communication during crises, helps in building trust and aligning everyone towards the company's new direction.
- Long-term thinking and decision-making, even during times of crisis or rapid change, can lead to more sustainable growth and success for startups.
In the face of a global pandemic and a financial meltdown, Founders are confronted with a new reality. If you are running a startup today, this will likely be one of the most challenging climates you’ll ever face.
Launched in July 2012, Bizzabo is a SaaS All-in-One event success platform. They help organizers create successful events by empowering them to build amazing websites, sell tickets, grow communities, go mobile and maximize event experiences - using a beautiful, user-friendly platform. Despite Covid canceling all conferences and in-person events, Bizzabo was able to complete a funding round of $138 million.
NFX Partner Gigi Levy-Weiss talks with Bizzabo Co-Founder & CEO Eran Ben-Shusham about their strategy during COVID including customer acquisition, fundraising, and overall growth during the downturn. Eran shares his mindset as a company leader and how he and his team navigated the crisis to come out the other side ahead in hypergrowth mode.
Read the NFX article here - https://www.nfx.com/post/bizzabo
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Transcript
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