What happens when entrepreneurs fall in love with their products instead of their markets? According to Joseph Kershenbaum, a four-time founder who's built and scaled global companies across four different industries, it's a recipe for disaster.
Joseph brings a powerful combination of Fortune 500 legal expertise and practical entrepreneurial experience to our conversation. Having successfully guided a company from founding to public offering over eight years, he shares how constant market adaptation was key to their success. "We changed our strategy and our model many times based on how the market was changing, but it was always very market-focused," he explains.
Through practical examples, Joseph illustrates how even brilliant products need vertical focus to succeed. He recounts working with an MIT graduate with an excellent AI product but no chosen vertical market - a common mistake that limits sales potential and profit margins. This market-first mentality applies across all industries, from SaaS to AI.
Joseph's approach to scaling companies is equally insightful. When facing hiring challenges in Cambridge's competitive tech market, he pioneered outsourcing to India, increasing margins by 32%. In healthcare, he overcame nursing shortages by creating an exceptional culture with meaningful benefits. His philosophy on company culture starts with the hiring process - no stress interviews, genuine open-door policies, and hiring people smarter than himself in every position.
What truly sets Joseph apart is his willingness to take chances on promising candidates regardless of traditional credentials. He shares the remarkable story of hiring a high school graduate as finance manager who later became CFO of a venture-backed company. "I look for people that are driven, that are sharp, that work for themselves," he says, valuing these intrinsic qualities over formal education.
Ready to build a market-focused company with a culture that attracts and retains top talent? Connect with Joseph on LinkedIn to learn more about his approach to scaling businesses that thrive in changing markets.