In Wired magazine's most recent issue (October 2013), Ev Williams, the founder of enormously huge internet successes Twitter and Blogger, reveals the secret formula for getting rich online.
Naturally, as a Cloud-based B2B startup, we really wanted to know that secret, so we could get rich too from our Web-based company. So, we excerpted Ev's most insightful comments, then looked at ContractRoom, to see if we are following his formula for success.
1. Williams believes that the real trick is to find something that’s tried and true — and to do it better. "We often think the internet enables you to do new things," Williams said. "But people just want to do the same things they’ve always done."
ContractRoom comparison: ContractRoom tackles the negotiation and contracting process which has been around for hundreds of years. ContractRoom automates the entire process, allowing contract originators and their counterparties to be more productive with less risk, and more control and transparency.
2. "The internet makes human desires more easily attainable. In other words, it offers convenience,” said Williams. “Convenience on the internet is basically achieved by two things: speed, and cognitive ease.”
ContractRoom comparison: ContractRoom is designed to eliminate the administration and management of the contracting process. Plus, the the system keeps users focused on business terms, not legal jargon, so deals get done faster, easier, and smarter than ever before.
3. “Here’s the formula if you want to build a billion-dollar internet company,” Williams added. “Take a human desire, preferably one that has been around for a really long time…Identify that desire and use modern technology to take out steps.”
ContractRoom comparison: Today, the contracting process relies heavily on manual processes combined with technology or tools to improve part of the process (i.e. standalone digital signatures.) ContractRoom is a singular platform, from offer to signature to archival, that eliminates many inefficient steps in a painful process. We're all about taking steps out of the critical path from point A to point Z, especially if it improves accuracy, productivity, and revenue recognition.
Based on our exacting comparison of ContractRoom to Ev Williams', we think we're onto something big. And, Ev, if you're reading this blog post ... thanks for the endorsement of what we're doing at ContractRoom!