CIBC Innovation Banking Podcast
Michael Hainsworth
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American Made: Scaling Your Business by Identifying Pain Point Intersections with Marcos Torres of Huntress
Originally released on November 15 2023, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry. According to Marcos Torres, investing is more serious than getting married. The CFO of Huntress, a managed security platform developed by former NSA employees, says that investing just isn't about money. He looks for partners who he can work with long-term, because he knows it can be far more difficult to get someone out of a company than of a marriage. Join him and host Micheal Hainsworth as they delve into what Marcos has learned on his journey from private equity owned business operator turned CFO, raising equity before you need it, and the nonlinear growth of organizations. You need more than just a plan B Marcos stresses the significance of having not only plan A and B, but also plan D. Too many entrepreneurs seek cash only when they are in trouble, but Marcos advocates for "digging the well before you're thirsty." By seeking partners, building relationships, and raising equity in advance, you position yourself to find the right investors and partners for your business. Find the intersection of pain points Marcos knows that every customer's pain points will be unique to their business. Companies may belong to the same category, but that doesn't mean the issues they need to address are identical. That’s why he encourages entrepreneurs to find the intersection of the pain points across the category they are targeting. Huntress focuses on small to medium businesses that live under the ‘cyber security poverty line,’ and by finding commonalities in their security pain points, has built a product that can scale and build a robust customer base. People are the most expensive part of software When tackling a problem, Marcos and his team prioritize technology. They first identify the problem and how technology can solve it, then consider the people involved. People are the costliest aspect of technology, so optimizing the process before identifying the required team members helps create a scalable business. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.
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