I write them down and do a mock-up of what the impact could be, both positive and negative, if we were to run with the idea. After that vetting process, I run it by my executive team for feedback.
Matt Peterson has been with eFileCabinet since 2007 and directs all areas of the corporation, including sales and marketing, finance, product development, and operations. He has successfully reorganized eFileCabinet’s business objectives, raised Series A and Series B venture capital, and implemented turnaround strategies, transforming eFileCabinet from a small startup to a successful, profitable company in high-growth mode. Under Matt’s tenure, the company has been recognized by Inc. 5000 as a two-year winner and by MWCN Utah 100 as one of the fastest-growing companies in 2013 and 2014.
Matt is a popular frequent speaker and guest on TV and radio. His articles and interviews have appeared in hundreds of publications, including Forbes, Wall Street Journal, Entrepreneur, PC Magazine, and Fox Business. His 22 years of experience include executive leadership, enterprise software, SaaS, and business development.
Where did the idea for your last project come from?
Driving home from the office.
What does your typical day look like, and how do you make it productive?
I get up at 6 a.m., exercise, respond to all emails by 7:30 a.m., get to the office by 8:30 a.m., and leave by 6:30 p.m. most evenings. I usually spend 10 p.m. to midnight on work-related activities.
How do you bring ideas to life?
I write them down and do a mock-up of what the impact could be, both positive and negative if we were to run with the idea. After that vetting process, I run it by my executive team for feedback.
What’s one trend that really excites you?
Cloud delivery of software is such a game changer. Accessibility to data on a mobile device takes it to the next level of excitement.
What is one habit of yours that makes you more productive?
Running. It clears my head and allows me to think strategically.
What was the worst job you ever had, and what did you learn from it?
My first job as a 15-year-old teenager was working as a dishwasher at a local steak restaurant from 5 p.m. to 10 p.m. a few nights a week. The work was exhausting, sweaty, and monotonous. I learned that I could work hard physically, but using my brain more than my brawn would be a better path for me.
If you were to start again, what would you do differently?
I would focus more on the marketing aspect of products and services. Having a great product or service can only get you so far. You have to be able to tell the story and elicit the appropriate response to ultimately get the sale.
What is the one thing you do over and over and recommend everyone else do?
I read a lot. To borrow from the bestselling book “The 7 Habits of Highly Effective People” by Stephen R. Covey, you have to “sharpen the saw.” In other words, take the time to recharge your batteries, learn something new, and stay current in a business environment that’s moving at the speed of light.
What is one strategy that has helped you grow your business?
Without hesitation, the most important strategy in growing a business is to hire talented, ambitious individuals. Getting and keeping people who are smarter than you is critical to success. Having a good idea, a good vision, or even a great product isn’t enough to be successful if you don’t invest in the human capital necessary to make it all go.
What is one failure you had, and how did you overcome it?
My first semester of college was a disaster. I wasn’t ready to buckle down and get serious about my studies. I ultimately decided that I needed to get a job, earn some money, and then return. This gave me a new perspective on my future and the important role education would play in my ambitious plans.
What is the best $100 you recently spent?
Getting my son outfitted for his first semester in college. Not only was the first $100 spent a good investment, but the several dozen more hundreds that were spent after were well spent, too.
What software and web services do you use? What do you love about them?
I just wrote a LinkedIn article on this very subject. You can read it here.
What is the one book that you recommend our community should read and why?
“The Sales Acceleration Formula” by Mark Roberge. Mark is the former SVP of HubSpot (now chief revenue officer of HubSpot’s inbound sales division), and his insights into marketing and sales are practical and insightful.
What people have influenced your thinking and might be of interest to others?
I have a library of books on how companies got started and became successful. Two people I admire for their hard work and success in the face of adversity are J.W. Marriott and Walt Disney. I have read several books on both of these innovators. Understanding how their backgrounds shaped their approaches to business and life has been invaluable to me.
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Matt Peterson on Twitter: @mattpeterson_
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Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.