Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

This Entrepreneur Built A Billion-Dollar Company Straight From College

This Entrepreneur Built A Billion-Dollar Company Straight From College

FromThe Be Your Own Boss (BYOB) Podcast


This Entrepreneur Built A Billion-Dollar Company Straight From College

FromThe Be Your Own Boss (BYOB) Podcast

ratings:
Length:
44 minutes
Released:
Aug 4, 2021
Format:
Podcast episode

Description

Our guest this week is Marco Zappacosta, the co-founder and CEO of Thumbtack, a billion dollar company that helps people find skilled pros in their area for various jobs. Actually both of Marco’s parents were entrepreneurs and they created the Logitech brand. But Marco didn’t start out thinking he would follow in their footsteps to become an entrepreneur. Where did the idea of Thumbtack come from When Marco first started, he didn’t have a fully realized idea. He knew he wanted to solve a problem and that’s where it began. The idea came to him and his co-founder when they realized that at any given moment very busy homeowners had big to-do lists with hundreds of millions of dollars worth of jobs they wanted to get done. And on the flip side there are pros who have gaps in their calendars and free time to fill. But the two parties had a hard time finding each other, it was a matchmaking problem. “That was the inspiration, like literally the opportunity, the brokenness of the world, and realizing that if we got this right, yeah, you make homeowners' lives much richer and easier and better, which feels great. But for pros, you increase the return on their human capital. And it feels as fundamental as progress and change can be. So having that sort of desire and vision from the get go, I think, helped pull us through a lot of moments where we didn't know exactly how to do it, or what to do, or, you know, weren't necessarily accomplishing all of that vision quite yet. But we always saw the potential for it. And that's what we've been chasing.” Marco admits it took him and his team three solid years to really figure out how to attack this problem in a scalable and effective way. And so they had to find ways to stretch the money they had and they had to find creative ways to get started. But it also made it easier to find people to join the team who were excited and passionate about their mission, since all they had to offer was equity. How to keep your motivation when being told ‘no’ repeatedly Every entrepreneur has gone through times when they have had multiple doors closed on them and they have heard ‘no’ repeatedly. Part of being an entrepreneur is about having resilience, perseverance and a thick skin. Marco went through times like this, and he says it all comes down to what you fell in love with as an entrepreneur. When you go through tough times you get tested and you really find out what you love about your business. Are you in love with the solution or the product? Are you in love with solving a problem? Are you in love with having the label of entrepreneur? Because being rejected doesn’t feel good, it’s a horrible feeling and if you only love the idea of being an entrepreneur or if you are stuck on one product or specific solution, you may not stick with it for the long haul. For Marco and his team they knew the problem they were trying to solve and they were determined to keep going and to find the solution. And Marco admits he has lost faith in himself at times, and that is normal, but that’s where you have to be grounded in your mission in order to keep going. Another thing that has helped Marco, self admittedly, along the way is his stubbornness. He says, “I've been very attached to this vision, because I think there's a real opportunity there. And, you know, I've talked to a lot of people, I've seen a lot of competitors try and attack that, none of that has dissuaded me from believing that there really is an enormous opportunity there that's worth chasing. And so I'm stubbornly gonna keep going.” The importance of self-awareness to Marco as a leader Everyone has strengths and weaknesses, but it takes self-awareness to know what yours are. Marco says it wasn’t until he did a real 360 with an outside executive coach that he realized something important about himself. Marco has always prided himself on his adaptability and the fact that he is “stubborn on vision and flexible on strategy”. He doesn’t care if the best idea
Released:
Aug 4, 2021
Format:
Podcast episode

Titles in the series (99)

Blake and Jacob Morgan met at a conference ten years ago and it was love at first sight. One month later Blake packed a suitcase and moved to SF to be with Jacob. They've been inseparable ever since but it wasn't always easy. They have weathered many disappointments and wins together whether that was short-term jobs, layoffs, failed businesses, rejections and everything in-between. They've taken their critical lessons learned and turned them into a new co-hosted podcast teaching you to Be Your Own Boss, because that's exactly what they've each done in their own way. Jacob has had his own business for 13 years, and Blake for almost 5. They both laughingly deem themselves unemployable, and have figured out how to work for themselves. They want to give you the short-cuts so you don't have to struggle. Jacob has written five published books and Blake has published two books. They have presented at hundreds of conferences, built and sold online products, have their content viewed by millions each year, and even enjoy sitting side by side every single day as they navigate the sometimes unpredictable and rough waters of self-employment. They've learned how to manage entrepreneurship, marriage, parenthood and much more. This podcast brings you the insights and stories on how they did it - Blake and Jacob want to make life easier for you as you navigate your own road to self-employment and entrepreneurship, whether it's a distant dream or something you've already started on now. Connect with us: Website: https://www.byobpodcast.com/  Instagram: https://www.instagram.com/byobpodcasting  Facebook: https://www.facebook.com/thebyobpodcast  Twitter: https://twitter.com/thebyobpodcast  Newsletter: http://www.byobpodcast.com/newsletter