Technology entrepreneur Patrick Henry has recently launched a new company QuestFusion, focused on helping tech entrepreneurs grow their startup companies. QuestFusion advises company CEOs, founders, and boards of directors on areas of strategy, new business development, and raising necessary growth capital. Here is our interview:
Q: What can you do for startups?
A: First, thank you so much for taking the time to talk to me today. I have a passion for QuestFusion and a passion for innovative companies that are doing cool things to solve real problems and create value. As a serial entrepreneur and CEO of three different startup companies I have seen and experienced a lot that can be very valuable to company founders and CEOs of emerging growth companies. Founders of technology companies are typically engineers and technologists. They may be brilliant, have a great idea, and even be able to execute on delivering a new product or service. However, they may lack the experience of how to run a company, how to win customers, how to make their vision into a strategy and actionable plan, and how to raise money for their company. It may be that they don’t want to hire a CEO, or cannot afford the right caliber CEO. So they are left with a gap in knowledge or experience. I can help bridge that gap in a very cost effective and efficient way.
Q: Tell us something more about QuestFusion and your services?
A: My primary focus areas in the consulting business are strategic planning, business planning, product positioning, new business development, and raising capital. I have decades of experience in these areas, and have a pretty successful track record of transforming new technology ideas into lucrative products and businesses. I have also been involved in due diligence projects for companies and investors where they can leverage my domain expertise in hardware and software startup companies, businesses serving the Pay-TV industry and ecosystem, companies in the consumer electronics, connected home, and the Internet of Things (IoT) markets.
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Q: Is there anything that sets QuestFusion apart from similar companies?
A: QuestFusion really doesn’t have much direct competition. The large strategy consulting companies like McKinsey and Bain focus on large cap companies that can pay over a million dollars a year in fees. Large specialist management consultants work in niche area of accounting, IT, process change, quality improvement, and the like. They typically are too expensive for emerging growth companies as well. There are other consultants like executive coaches, product specialists, finance experts, or attorneys for hire. These consultants are more complementary than competitive with QuestFusion. They provide an ecosystem or network to company founders if I’m not the right fit. There are some other former successful CEOs that are doing some level of consulting business, but they are more likely on advisory boards or on boards of directors, which I also do. I really don’t see them in the marketplace too often though. I am specifically focused on startups and emerging growth companies that face a unique set of challenges, since I have experience doing exactly that. I have considerable experience in driving a process methodology to “cross the chasm” for new products. I can be a mentor and coach to CEOs and founders of these emerging growth companies, and help them to drive strategic processes to give more clarity to the CEO, executive team and board of directors. In special situations, I can be a virtual CEO for a company while a founder grows into the position, or while the company looks for a permanent CEO. I have the experience and knowledge to be very valuable, efficient, and cost effective.
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Q: QuestFusion also makes equity investments in companies, could you explain it?
A: Yes, I also make “angel investments” into companies where I see real promise, where I have a good understanding of the target product-market segments, and where I can add value.
Q: You have over 13 years experience as a CEO at three different tech startups. What is the most important thing to know about running a startup?
A: Well, I think the most important thing to know about running a startup, and making it successful, is that it is very hard. It takes a great idea, tons of passion, and an ability to understand, articulate and address the key felt needs of the customers. Running a startup requires focus, dedication, hard work, an ability to assess situations quickly and have a bias for action, and being able to course correct quickly along the way. You also have to build, lead, coach and manage a great and high performance team. You need to make a living out of asking for the impossible and expecting to get it.
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Q: What can we expect from QuestFusion in next six months?
A: Right now we are working to establish our brand presence, cultivating new clients, and helping founders and CEOs accelerate their path to success in their businesses. I also have a companion blog called The Real Deal…What Matters, where I write about topics interesting to entrepreneurs, company founders, and CEOs of emerging growth companies. I think you can expect more of the same, but with a great recognition by the marketplace of the unique value proposition of QuestFusion. Longer term, the sky is the limit!Activate Social Media: