Shake Up Your Business Model
By Scott Skinger an EO Chicago Elumni and president of Train Signal, Inc.
Last year, my information technology training company, TrainSignal, was raking in profits. Since I first bootstrapped the company 10 years ago, we had managed to grow our revenues every year, and have been profitable since 2003. That’s when I decided to transform TrainSignal from a DVD model to an online SaaS subscription model. Making the switch, I knew we stood to potentially lose hundreds of thousands of dollars for up to a year. But like many entrepreneurs out there, I first founded my company with a crystal clear idea of what I wanted to accomplish.