Black’s response was to create Glass-Media, a company with the tech to turn any storefront, street-facing glass or indoor surface into a vivid and interactive display capable of running the latest digital ad campaign in real time. In other words, it creates a dynamic new version of a storefront. I learned a lot in my interview with Daniel, including Black’s biggest challenges and advice for any entrepreneurs interested in the hardware/software space.
The Industry Has Few Disrupting Forces
When further explaining the inspiration that led him to build a tech company centered on interactive displays, Black explained what any tech entrepreneur should know: in order to disrupt an industry, you must pick one that has far less innovation than it needs. Black grew passionate about disruption at the storefront based on what was lacking in the marketplace. The next step? Founding a company to do something about it.
Scaling Up Takes Patience
Black offered two points of advice in regard to the lessons he learned while scaling up in the digital sign business: the importance of operational efficiency, and the need to “lean on strategic partners, alliances, vendors and suppliers.” You’ll also need patience to thrive as an entrepreneur as things don’t always happen on your time frame.
Learn How to Balance Fundraising
Black had to strike a balance. More often than not, the founder is the one who has to balance the daily grind of building a business and raising growth capital. Glass-Media has raised over two million dollars in seed capital. Their funding channels have been strictly angel investors.
Rely on Your Networks
While building a business, remember to lean on your network to help you solve the challenges of today and what’s to come. Black offered a few words of advice for startups in his industry. Keep an eye out for potential niche industries that have long been overlooked: Maybe you’ll find the next industry ripe for disruption, and you can put Black’s advice to good use. A great place to start building a network of entrepreneurs, advisors and investors who can help your business get to the next level is at Startup Weeks. Graphics provided by Glass-Media This article is part of a Startup Week content series brought to you by CHASE for BUSINESS. Startup Week is celebration of entrepreneurs in cities around the globe. CHASE for BUSINESS is everything a business needs in one place, from expert advice to valuable products and services. Find business news, stories, insights and expert tips all in one place at Chase.com/forbusiness. Read the rest of our Startup Week series.
