Alfonso.Chacon
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Hi
I'm an Electronics Engineer with a PhD in microelectronics (VLSI), that for the past 20 years has been mostly in academia in Costa Rica. In 2021, due to some alignment of the stars (cannot find a better explanation), my partners and I landed a business selling staff augmentation services to a big VLSI start up in the US.
My partners are a colleague with 8+ years of experience as ASIC Designer in the VLSI industry (Intel), and a friend with 20 years of experience with his own small Embedded systems company. Business has been really good, and have now 25+ people giving key support to our customer (ASIC RTL design and verification, mainly). But we're approaching the end of the contract. And though our customer has promised us to keep most of our staff for another product for next year, we now that promises are just that, and we find ourselves still depending on one client (and as I know from the books, this makes us extremely fragile, as these guys can pull the plug at anytime leaving us in the middle of the desert).
We have timidly tried some marketing and followed some promising leads, but the truth is: we haven't been able to close a sale in two years, and our marketing is lousy. We don't even have anyone with the required experience seriously working on this, since we had the hubris at the beginning of our business of thinking that marketing and sales were very easy compared to VLSI design and that we could handle that ourselves, an attitude which of course, has now come back to slap us on the face, and we need to quickly learn on how to improve our lead generation and conversion rates.
I read the Millionaire Fastlane and Escape From the Rat Race, and found so many parallels with my life that, when this business opportunity happened, didn't think twice on jumping into it. I think we've been able to fulfill the first four major premises of CENTS in our business, but having no marketing and sales strategy has made scaling hard for us. I hope the insights in this forum can give us some hints on how to make our business escape the current situation.
I'm an Electronics Engineer with a PhD in microelectronics (VLSI), that for the past 20 years has been mostly in academia in Costa Rica. In 2021, due to some alignment of the stars (cannot find a better explanation), my partners and I landed a business selling staff augmentation services to a big VLSI start up in the US.
My partners are a colleague with 8+ years of experience as ASIC Designer in the VLSI industry (Intel), and a friend with 20 years of experience with his own small Embedded systems company. Business has been really good, and have now 25+ people giving key support to our customer (ASIC RTL design and verification, mainly). But we're approaching the end of the contract. And though our customer has promised us to keep most of our staff for another product for next year, we now that promises are just that, and we find ourselves still depending on one client (and as I know from the books, this makes us extremely fragile, as these guys can pull the plug at anytime leaving us in the middle of the desert).
We have timidly tried some marketing and followed some promising leads, but the truth is: we haven't been able to close a sale in two years, and our marketing is lousy. We don't even have anyone with the required experience seriously working on this, since we had the hubris at the beginning of our business of thinking that marketing and sales were very easy compared to VLSI design and that we could handle that ourselves, an attitude which of course, has now come back to slap us on the face, and we need to quickly learn on how to improve our lead generation and conversion rates.
I read the Millionaire Fastlane and Escape From the Rat Race, and found so many parallels with my life that, when this business opportunity happened, didn't think twice on jumping into it. I think we've been able to fulfill the first four major premises of CENTS in our business, but having no marketing and sales strategy has made scaling hard for us. I hope the insights in this forum can give us some hints on how to make our business escape the current situation.
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