Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Alan Pelz-Sharpe, Founder of Deep Analysis, located in Philadelphia, PA, USA.
What's your business, and who are your customers?
My business is called Deep Analysis; we are an advisory firm working in the Information Management & Automation Software sector. Firms such as ours are known as Industry Analyst companies, as that is what we do, we analyze the industry. Our customers are tech firms as large as IBM & Microsoft, or small early-stage startups, private equity firms, and large enterprises. Essentially they engage with us to gain insights into where the technology market is going, what is changing, and what new technologies, etc., are emerging.
Tell us about yourself
I had run research practices at larger Industry Analyst firms for almost 20 years and wanted to run my own company. Though I knew we would never become a large company, the freedom to set our research agendas and set our standards and methods was important to me. People make very important decisions based on our advice, which is a huge responsibility and gives the team and me a lot of motivation to get it right. It is a privilege to have access to the movers and shakers in our industry, and it takes a long time to gain their trust, so there is pride in our work and a recognition that few get to this.
What's your biggest accomplishment as a business owner?
Accurately predicting market changes and innovations before our much larger competitors ranks as our biggest accomplishment. We have a successful track record of being the first to uncover new trends, and when we are in competition against much larger firms with deeper pockets and resources, we know we are doing something right!
What's one of the hardest things that come with being a business owner?
The hardest thing to learn and accept as a business owner is that we often cannot win commercially against the more prominent competitors. Their brands are so well established that some customers will pay them a premium and overlook a small firm like ours. That's a tough pill for a business owner to swallow; even though we know we can often do the job better, it is what it is, and you have to learn to accept that you will not win every battle.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Your first year, and maybe even your second, will likely be tough. You have to be able to survive those first couple of years and be prepared for a hard slog to establish your business.
- Treat everyone you meet with respect. It does not matter if the person is the CEO of a multibillion-dollar company or a minimum-wage administrator. They are all worthy of being treated well. Treat others well, and they will likely do the same to you.
- Have a passion and love for your work; if money is your primary objective, then in the advisory and consulting world, at least you will not survive.
Where can people find you and your business?
Website: https://www.deep-analysis.net/
Twitter: https://twitter.com/4DeepAnalysis
LinkedIn: https://www.linkedin.com/company/deep-analysis/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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