Real People, Real Business is my online show featuring business owners and entrepreneurs who are in the trenches, creating and growing their dream businesses, one step at a time. Sometimes we need inspiration and answers from folks who are closer to where we are, and who share the same experiences, constraints, challenges and opportunities that we do.
I’m Stephanie, and I work with experienced business owners who are trying to figure out what’s next in their businesses. They have pushed themselves to achieve enough success that they know their business is viable, but feel they have run out of options for growth. I help them create a new vision and strategy for their business so that they can feel completely aligned, excited and energized about their new direction with a clear path for financial and personal growth.
IN THIS EPISODE - "Creating a New Category in a Legacy Market"
Projjal Ghatak is the CEO and co-founder of SaaS company, OnLoop, creating a new category, Collaborative Team Development (CTD), in a legacy market with a software product that is redefining the way organizations conduct performance management for hybrid teams.
In this episode, you’ll hear how Projjal made the leap into entrepreneurship by tackling what he observed to be one of the most disliked processes in human resources, how he invented a new business category, developing and launching a software product, and some of the hardships that come with being a founder.
Projjal describes how OnLoop works to improve the performance management process, common issues within traditional performance management, and how OnLoop is redefining the performance assessment process to unlock the potential of workers, increasing productivity.
Projjal talks about the importance of finding the right founder-investor fit when seeking capital, understanding the venture capital business model, the personal toll raising venture capital took on his mental health and how he got through it, and 3 pieces of advice he has for other founders who need to raise funding.
Projjal shares his insights on launching a software product, why he initially focused on product development over revenue, the value he saw in getting his product into the hands of users early on, how to know when you’re software product is ready for monetization, and how OnLoop utilizes user feedback to drive product integration.
Finally, Projjal tells us the gut decision to focus on the mobile app that paid off, 2 key elements of his product that have driven OnLoop’s growth, how his business has been able to disrupt a static market, and why founders should be more open about the mental health challenges that come with launching a business and getting necessary support.
Projjal offers an incredibly honest account of what has been real for him in his entrepreneurial journey that you won’t find many founders talking about, plus several great pieces of business advice that make this conversation one you won’t want to miss.
View episode details at https://podcast.stephaniehayes.biz/episode-87/
Find Projjal at:
Website: https://www.onloop.com/
Twitter: https://twitter.com/OnLoop
Instagram: https://www.instagram.com/stayonloop/
LinkedIn: https://www.linkedin.com/company/onloop/
YouTube: https://www.youtube.com/channel/UCLaN140q6NZdUMcvQUQezZw
Learn more about Stephanie: https://www.stephaniehayes.biz
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