Compounding happens when you associate with a person, event or group of people who by that association keep putting you and your business out in front of others even when you are not there. Therefore, from the day that you launch your company, you should be looking for these compounding opportunities and let them work their magic.
When we launched our SaaS Company, we not only planned the type of product we would develop, but also the first event that we would attend. The event, we knew was a key industry gathering, but then, it was hard to gauge what impact it would have. Today, looking back, I now know that this show was one of those compounding events. Things we set in motion back then have continued to produce opportunities in terms of new customers, partnerships and ideas. Furthermore, I attribute getting through the Gap Stage to the work that we did here. Customers, partnerships, relationships and ideas; this event and other small actions helped generate these and continues to do so. These compounding events are little engines of growth that keep working when you are not.
If we had not attended this event at that time and waited a year when the product was more mature, refined and working, we would have missed the compounding effect that this event has had on our business every year since we attended.
The earlier you plant seeds of opportunity, the sooner you can sow success.