How I Did It: 5 Steps to Turn Your Moneymaker into a Moonshot

Wil Gomez built the classic moneymaking business with Seequelle, a consultancy that helps midsize companies implement costly and complex human capital management (HCM) systems, but he didn’t stop there. First, he differentiated his business from the competition with a unique value prop: linking to multiple data sources to give greater context to HR decisions. And second, he created a product from the in-house technology Seequelle used to increase its own efficiency. As a result, he’s ready to launch a moonshot with a multi-billion dollar total addressable market.

You can watch our full video interview to find out how he did it, but here are five key steps:

1. HE BUILDS ON HIS DOMAIN KNOWLEDGE. 

Wil spent years in the HCM industry on the vendor side before launching his consulting business. This gave him the depth and breadth of knowledge that would make Seequelle a strong partner for any enterprise looking to get maximum value from its HCM investment, and later, to create a highly scalable industry-specific product.

2. HE AUTOMATES REPEATING WORK. 

One of the reasons that Seequelle could be a highly efficient moneymaker was that it leveraged technology to reduce repetition. Rather than create one-off connections for each of its clients, it built a system that made these connections reusable for every new client that needed them. With every new connection, the company increased its portfolio of capabilities as well as its productivity.

3. HIS CUSTOMERS PAY FOR PRODUCT DEVELOPMENT.

This is a lesson that crops up so often it may just be a universal truth. Seequelle creates innovative solutions that its customers gladly pay for. However, the company maintains ownership of the technology and eventually leverages it to create an entirely new product to sell to a broader audience.

4. HE EXTRACTS VALUE FROM DATA. 

Day in and day out, companies generate mounds of data. More and more, they’re looking for ways to mine that data for gold. Thanks to Seequelle’s expertise both in technology and human capital management, it is able to extract that value for its customers—not just by linking disparate data sources together, but by making 1+1 = 3. By bringing together the right data, Seequelle helps companies improve their decision-making.

5. HE LEVERAGES THE CLOUD. 

It is becoming easier by the day to take advantage of technologies that were once out of reach for most companies, including developing highly scalable solutions and integrating artificial intelligence, machine learning, and sophisticated data analytics into your products and services. Seequelle took advantage of a resource it already had—the Microsoft Azure cloud-computing platform—to build a product it could then sell to its customers.

Want to know how Wil plans to build a $100-million business?  Watch my free video interview and hear him tell his story by signing up for How I Did It, a new free program from Birthing of Giants that provides step-by-step explainer videos from fast-growth entrepreneurs.