INSTANT MBA: Sometimes, You Need To Take Bet-The-Company Risks

Scott Heiferman

Photo: BizTech Day

Today’s lesson comes from Internet entrepreneur and MeetUp founder Scott Heiferman:So the secret sauce is we genuinely care and are excited about what we’re building. It’s also our perseverance on details, and a willingness to blow it up once in a while.

For example, we went from free to fee five years ago; it was a bet-the-company moment. Everyone said we were crazy. At first we lost 90% of our activity because every Meetup required the organiser to pay for it.

It was a quality filter as much as a revenue model. Now we’re much bigger than when we were free and it’s a sustainable, profitable business.”

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