Owner: Vaughn Peterson
Location: Pleasant Grove, Utah
How it got started
Vaughn had already spent most of his career helping organizations and people achieve their best. He started looking for a better way to bring the information and skills necessary to create happy and productive employees to more organizations. He also wanted to make it affordable for the organizations to implement. He really wanted people to be able to contribute more to their organizations, and have an enjoyable experience doing it. He had also been involved in several technology companies, and decided that making this idea into a software application was the best way to accomplish his goals of elevating productivity and increasing employee satisfaction.
Making it happen
He started out bootstrapped, but as he was gaining traction in the market, he knew that he needed some funding to bring his ideas to market at a quicker pace. He was able to secure financing that has helped him accelerate the business. With that funding he was able to build out his team, including some amazing software developers to help him bring his software to the level he thinks will be most beneficial to other businesses. Of course, in the business of software, there is always more to develop and more features to add, and he is confident in his team’s ability to make it happen.We're laser focused on how we can help. -Vaughn Petersen, Cambeo Click To Tweet
Vaughn is motivated by creating and making a contribution to the world, and starting this business really has helped him be able to do both of those things. He loves working with great people. He has the freedom to create the corporate culture where people love coming into work, and truly enjoy working together. Making an impact for his clients is the other part of owning this business that Vaughn loves. When he is able to see the productivity increasing, while employees become more excited to come to work, Vaughn knows that what they are doing is improving the lives of his clients. Just like the name Cambeo suggests, they are creating a positive change for companies.
When he was talking to an early investor, they asked what he would do when he hits hard times. Vaughn said that since he was all in, there was no life boat to get into and go back. He knew they would just have to keep moving forward. The main challenge for a software company like Cambeo is to balance how much needs to be invested to grow the business, with being able to keep business going. He attributes his success in overcoming this challenge with his client’s satisfaction of his product. He still has clients that have been with him since he first launched, and they still love how Cambeo creates positive change for their businesses. He wanted to make sure they took care of their current clients and met their needs, as well as bring new features that more clients would want. He didn’t alienate those first clients, and it has definitely paid off in helping him overcome his challenges.
Advice for other businesses
If he had to start all over, Vaughn says that he would probably have tried to get funding for his business sooner. He knows they would likely be further along in their development cycle with the right amount of money to fuel the business. If you are thinking of starting a business though, he says you need to be passionate about your idea and then go all in. He says “Find a way to put your heart and soul into it, and when you do that, great things come out”Find a way to put your heart and soul into it, and when you do that, great things come out. Click To Tweet
Watch the video of his interview!