Josh Melick led his Broadly company to heights never thought possible by any startup, but he didn’t do it alone; Josh had a learning curve that continued throughout his successful career. As the CEO of Broadly, Josh was responsible for all aspects of running the technology-oriented company and executing its vision. He has worked in sales, marketing, business development, and product management. He is an entrepreneur at heart – someone who can take a concept and execute it with great success.
Josh offers his own personal startup checklist that points out the seven key focus areas that all new businesses should consider when developing their business plan. These include:
1. A great team with good chemistry
Putting the right people in place on your team is the first step to creating a successful organization. Josh believes that everyone you bring onto your team needs to be able to contribute in a meaningful way, and they must work well with one another.
2. A great product or service is essential
This may sound obvious, but it’s not always the case. There are many entrepreneurs who start companies based on what they believe to be a great idea that truly has no merit. The first thing you need to do is make sure that your product or service can actually offer something beneficial to consumers before spending any time trying to market it.
3. A scalable model
Running a business successfully means constantly growing and expanding, so you want your business model to be scalable. Your model should allow for growth without compromising operational costs, offerings, or client relationships.
4. A market opportunity
Your business needs to fill an unmet need in the marketplace, so it is essential that you find a marketing niche where you can thrive. According to Josh, there are at least five markets in most communities with unmet needs that are conducive to business growth.
5. A solid revenue model
Your business needs to have a sound revenue model that can quickly scale with minimal overhead costs and minimal capital expenditures.
6. A great sales team
Having a capable sales team in place is crucial because it provides a direct link between your company and your customer base, allowing you to quickly and easily identify their needs and wants. At the same time, it is essential that this sales team accurately represents your company and never makes empty promises.
7. An exit strategy
A strong exit strategy will be one of the most essential tools you have; after all, it’s what can help ensure that your business continues to grow. A successful exit strategy will also ensure that your business remains profitable in the years to come.
Josh Melick currently consults with technology companies, holds executive roles, and invests in emerging technology. Josh has been featured as an industry expert on C-Suite Radio, as a keynote speaker at numerous events, and a contributor to various publications, including Forbes and The Huffington Post.
In closing, he said, “As for me personally, I’m currently working on many projects and enjoying life. However, I still love business and entrepreneurship because it’s in my blood.”