Michael Litt was born in Waterloo Canada and he had plenty of entrepreneurial experiences before starting his business, Vidyard. Some of these ventures included day trading, a smartphone blog, and a bio-diesel enterprise. It seems to be a common trend that most entrepreneurs have vast exposure in the business world before starting their own company.
Vidyard is a company that helps businesses manage their online video content. It also allows them to see how users interact with their videos. This “Youtube for business” idea grew rapidly and enabled Litt to be recognized by the top business incubator in silicon valley. This recognition allowed him to receive the funding necessary to make his idea a reality. Michael Litt is another example of a young entrepreneur finding a unique opportunity to create value for customers and turning that into a successful business idea.
In his most recent lecture, Professor Allison commented that some of the best entrepreneurial ventures are business to business. Litt appeals to this idea with his company, Vidyard. It’s also interesting to hear that he had past experience within the entrepreneurial world. I think we often believe that we’ll “make it big” with our first idea and are disappointed to find out that this is not always the case. Litt shows us that it often takes time before you land on an idea/business that profits. It’s an encouragement to persevere, pivot, and learn!