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For Signpost, a cloud-based marketing software company with a growing Denver presence they “always come back to what problem we are trying to solve,” said CEO Stuart Wall. Without that, companies can “jump ahead and develop a product solution without an identifiable problem.” And that can lead to significant failures. Instead, Signpost spends time interviewing their clients to get a good understanding of their business, what is working for them and what they need out of their software.

Identifying the problem

Here's the problem Signpost saw: small business owners need quality customers and are terribly busy with the day-to-day operations of a company. These passionate business owners may not like doing important aspects like marketing or payroll. In feedback from customers, one of the biggest themes that emerges is the need for quality customers and time constraints for founders. That’s where Signpost comes with its marketing service for SMBs. Using Signpost allows business owners to build strong customers relationships – an essential component of business – while saving time.

The company likens itself to a front office version of the popular Mountain View-based software company Intuit: a company that provides back office support such as taxes and payroll. With a company maxim of "fighting for small businesses," Signpost specializes on working with small and medium sized businesses on marketing, automating the most important interactions with potential or existing customers.

Bootstrap, Fund and Learn

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Back when Signpost was just a concept in 2010, funding was hard to get. Wall said that required them to bootstrap and build out their product. Over three months, the company built the website and applications and garnered some press. Once they had proof of concept in hand, conversations with investors changed. Signpost got early funding from Google Ventures ($1.25 million) and  from Spark Capital ($3.75 million) - in addition to their most recent $10 million round led by OpenView Venture Partners in November. In the end, companies should go as far as possible before looking for outside funding, said Wall.

Fundraising taught Wall to be resilient. Even with a good product, not every investor meeting will end with a check, he learned. Getting feedback from those investors on their decision is important, but so is buckling down and continuing to build a product.

Even after successful rounds of funding, Wall said to keep learning. Signpost's exec team encourages their employees to have formal and informal advisors for feedback. Being a founder of a start-up can be a lonely job, so its important to reach out.

Hire Smart & Instill Company Culture

After opening an office last year in-state, Signpost is growing rapidly in Colorado. For them, adding a Denver office (on top of their New York and Austin ones) was a great business decision, in terms of tapping local talent, the quality of living and low operating expenses. The Denver office has 30 people but plans to hire 70 more before the end of the year. To Wall, keeping the culture is important. They spend a lot of time thinking about hiring the right people and incorporating their culture into everything they do.

For Signpost, talking about hiring isn’t just a PR line. Long-term employees have risen the ranks. A former sales rep is now heading up the Denver office. Impact is one of the company’s other maxim’s: Signpost works to put employees in a situation where they can have the best possible impact. That means checking egos at the door, another part of their company culture. For Signpost, that combination has led to very little turnover.

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