Interview with Qualvu's CEO
Interview with Qualvu's CEO
Interview with Qualvu's CEO
John Williamson, Qualvu's CEO, talks about our journey and proven model for delivering truthful insights for our clients.
Philosophers have wondered "what istruth?" for time immemorial. And for just about as long, entrepreneurs have been looking for a big idea. For the last three years, Qualvu, a start-up in Golden, Colorado has achieved both missions in many ways through a unique and innovative online platform for video-based consumer feedback over the web. Qualvu has been helping top companies around the world find the truth about their products and services through uninhibited consumer insights. Business can now see those moments of truth when consumers are actually using their products, or considering purchasing them gaining better intelligence faster, easier and at less cost than ever before. Qualvu, in the words of its CEO John Williamson, is using "relentless innovation" to provide even more and better services to companies hungry to understand their consumers. John recently sat down for an interview with Christina Carosella, Senior Consultant with The Mead Consulting Group to talk about what Qualvu has done and where it's going.
How did you decide to get into the business?
In 2006 I was looking for a start-up and learned about the qualitative research industry from a friend. It offered many factors of interest to me: the chance to disrupt an industry largely void of web-based innovations, and find new ways to offer customers value through largely self-serve methods.
Brief History?
We looked at companies like SurveyMonkey, eBay, LegalZoom, ServiceMagic, Expedia, etc. to assess the models of providing scalable online solutions in industries that were previously offline and logistically difficult. Qualitative was in a similar "pre-web" stage, and I learned that most people thought, "No way you can do that online and match the accuracy of focus groups." That's all I needed to hear to believe we were onto something and in fact we've achieved and surpassed insight depth that can be achieved via old methods.
So QualVu was founded at the start of 2008. We've pioneered a breakthrough online experience for conducting web-based consumer feedback, allowing businesses to take their qualitative research online without losing the face-to-face connections crucial to understanding customers. By connecting you with your customers around the globe via webcams, flip cams and even smart phones, Qualvu delivers more compelling and actionable business intelligence than focus groups, and because of cost efficiencies it's available to any business even those not previously invited to the focus group M&M parties' due to huge costs. We call it finding your truth and it's a really empowering DIY experience.
How do you compete and achieve differentiation?
QualVu innovations allow any user with an Internet connection to provide video-based feedback at the press of a button resulting in speed, cost and global reach advantages. Our clients can set up projects at any time day or night, and gain access to their consumers at home, at work, while shopping, or anywhere they interact with the client's products. We've got a proprietary process and technology to convert the data to highlight reels of key insights as well as online video reports too.
It took us nearly 3 years to perfect our platform and processes no one had ever attempted to do what we are doing, so we had to innovate virtually every step. It's been quite an effort, but we've created a lot of value.
What has been your biggest challenge(s)?
I think they've been similar to any company that breaks fresh ground in a new way of thinking and delivering a new paradigms via technology. So it's been about constantly fine-tuning every aspect of the experience from a self-serve project portal, to finding better participants than ever before, to delivering online reports within hours complete with video highlight reels of the most relevant and compelling consumer feedback, to creating completely searchable video. It's a lot of trial and admittedly some errors but every day is a new breakthrough in our refinement.
Has the growth path always been smooth? What were some of the bumps in the road?
It's been fairly smooth, but a huge effort for sure for some really smart people me not included in the smart part, just the work! QualVu is privately held by Colorado investors, and we used our initial capital to build a platform that was online and video-based. We didn't want to recreate focus groups online but start from a new perspective and ask, "Why do they do it this way, and how can our online approach improve on every part?" And then our goal was to create an environment of face-to-face candor, comfortable setting, and without peer pressure in scale that allowed thousands of responses every day. Fortunately we've continued to grow, and have gone from just a few employees to over 50 in just a couple of years.
What are the challenges to current growth?
Getting the word out! We're just now starting to really pop on the industry radar, as we've attracted a who's who of clients literally the largest and most influential companies in the brand world. I think we'll start expanding our story beyond the realm of traditional qualitative, as people realize we're a site for any businesses who needs deep insights to make better decisions.
In terms of technology, it's a never-ending cycle of iterations and breakthroughs. We constantly strive to make the process even easier and more approachable. We want to enable the entire world to connect businesses that need qualitative feedback with consumers dying to give their input. For example, wouldn't it be great if anyone with a smart phone could film a video and provide feedback on our clients' products at a moment's notice? Well we're working on that.
What are the keys to continued growth over the next 5-10 years?
Relentless innovation to keep our technical and process advantages. We've got a big head start, and it's just a matter of time before folks realize the disruption we're causing the industry. I believe a lot of that has to do with enabling breakthroughs in data mining video content, so our clients can increase the value of every project over time as they consolidate and re-assess consumer video data, trends, and insights. The more you use Qualvu, the better it gets.
Did you accomplish your growth internally or through M+A or both?
Internally.
How do you maintain the culture and still build the management team required to grow?
We find great people and promote from within. We pay market rate and we find smart, creative people who have a positive attitude and a strong work ethic. They believe in what QualVu does and want to be a part of it. People see career paths because QualVu is a meritocracy. We reward effort, talent, initiative, and values. Does that sound clich? I mean it.
How do global factors influence your growth?
Anyone with an Internet connection around the world can provide information vital to our clients' products and services. QualVu helps clients get feedback within minutes. That information can result in better business decisions within hours instead of weeks or months.
We're opened an office in Dublin this year to expand our global reach. We found Dublin ideal since it's easy to get there, has a multi-national workforce, and enables cost efficiencies beyond many of the more traditional landing points for US businesses expanding overseas. Interestingly more money is spent on qualitative research today in Europe than in the US, and we intend to support our global client base with expansion to other markets too.
Is it difficult finding people locally/getting people familiar with your industry/getting people to relocate?
Colorado is a fantastic market for finding smart, hard-working employees. And it's a draw for others who want to work at QualVu. In fact, we've already had a handful of employees relocate from other states because Colorado is special, and our story is one that people want to be a part of when they realize what we are up to. People want to work for growing companies who are game changers in their industry so we're fortunate to attract talent. We have more than 50 employees now and will keep on growing through 2011.
We started with strong leadership as we built the company and we feel strongly about growing leaders within the company. Our management team is relatively small but every employee has the opportunity to be a leader. Since we do a good job in finding the right people, it's natural for them to take on leadership roles.
Comment on the business climate here in Colorado. Would you build your business here again?
Absolutely. Who wouldn't want to live here? Colorado is a magnet for good people and the business community is extremely supportive of one another. We recently won a spot on the Colorado Companies to Watch list, and I've been really impressed with the passion this group of people has towards making Colorado a great place to start a business and grow. Certainly I'm concerned about the costs of running a business in light of potentially changing tax rates, but this is home for Qualvu.
Core Competencies: Discipline of Market Leaders
Which discipline is your company's strength? (Operational Excellence, Product Leadership, Customer Intimacy)
I have to pick only one? All three sure go hand-in-hand when it comes to building a great Internet-based business. So I'll answer with a long term view in mind: Product Leadership. Our goal is to be the #1 destination on the web for qualitative consumer intelligence a dominating #1.
How did you arrive at this conclusion?
At the end of the day it's all about accurate and actionable intelligence helping businesses make better decisions at game-changing cost, speed and reporting. That is what makes Qualvu great in my opinion a focus on that goal. Assembling a product that consistently delivers this experience is the only way to win in our space.
What impact did your selection have on strategymanagement structure and decision-making (centralized/decentralized)approach to customersculture, etc.?
It helps us decide the type of people to hire, how to make our own decisions quickly, the need to keep a relatively flat organization to reduce bureaucracy, and where to focus our efforts on technology and process.
What are some of the most important outcomes that have come from making a decision on your company's core competencies?
By focusing on product leadership, we're able to help our clients understand their own customers in ways that change how they do business. We are helping to design that is, through the research we enable new cutting edge products in the Internet, automotive, and consumer packaged goods categories to name a few. Through a largely self-serve experience, we help them drive down the costs of gaining qualitative insights.
The quality of participants in qualitative research is crucial so we find people who are passionate about participating and want to give timely, relevant feedback through experiential components as they are happening.
Thank you for your time, it's been a pleasure talking with you.
I love telling our story, thanks for giving me the chance to do that.
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