More Doing

Every CEO needs to know how to sell. That's why a lot of CEOs are, their backgrounds are in sales. You have to be able to sell your new idea. When you started Equilar, there were really no other players in the executive compensation data space. You invented that category. How did you go about convincing enterprise is that this is not only what they needed, but they should pay good money for it?

The way most of the data was aggregated at the time, there's a whole cottage industry of the executive compensation consultants. The reality was is that there was a tremendous amount of inefficiency in the process. So each of these consulting firms would manually go out and pull the data and then, recreate it. So it was very, very time consuming. What we were also finding was that a lot of in-house HR teams also wanted to have access to data and that they're willing to pay for a service that allowed them to get that data in seconds. So yeah, we were able to find that there was actually a nice product market fit, like, okay, there at the high end would be, go out and hire a consultant or you do it yourself. And that there was okay, there was an opportunity to take more of a Home Depot approach to it.

Hey, Home Depot is doing pretty well. So that's a good approach for you.

Exactly.