Though the team will likely have some bigger news in the coming months, we learned that the Texas duo will be planning a move to Silicon Valley. This comes after having built a foundation of great mentors during their time at 500 Startups, and also establishing stronger relationships with interested investors. In the near-future, they also plan to add additional members to the team, but will initially be tapping their network to find the most suitable candidates.
Learnings From 500 Startups
Mirroring that of Tye’s sentiment with 500 Startups, ShearShare COO Courtney Caldwell was blown away by the entirety of the experience. For startups, raising money typically comes with a bundle of caveats, requirements, and future involvement from investors. Whether a startup prefers the hands-on approach or would rather ford the river on their own with minimal investor check ins, there are plenty of options to choose from. Between incubators and accelerators, 500 Startups commonly sets itself apart by truly investing in a company’s future. More Than Money and a Workspace Speaking of fire, below you can see ShearShare’s demo day pitch from 500 Startups’ Batch 19. 500 Startups Demo Day
Prioritization For the Future
Other than adding some fuel to ShearShare’s plans, 500 Startups also threw in enough startup rocket scientists to help their organization move further than the launch pad, but actually touching down on the Moon. For Courtney and Tye, that means identifying priority areas for the business and tackling them head on. According to Tye, they are taking these new learnings, and bringing their work to Mountain View. The goal of their big move is to become further integrated into the startup ecosystem, and “We are doubling down on our priorities.” Four months down and new priorities set, ShearShare is now set on tackling growth and the customer experience, with the data to back up the need.
Data Shaping ShearShare’s Future
Social media metrics? No. Emails sent? Definitely not. So what metrics does a startup in growth mode need to focus on? The answers are specific to each startup, which is why ShearShare’s ability to prioritize their work based on data was so important. As far as growth goes, the company has several areas of focus this year: expanding into cities based on request saturation, customer acquisition channels, and a new influencer program. The latter comes as a result of the team’s success with word-of-mouth marketing, but they will soon be able to reward those who are lending a hand. Read more about our Startup of the Year program here at Tech.Co
