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Michael Terpin – CEO of Social Radius

In this video, Michael Terpin, the CEO of Social Radius, talks about how he carved out his place in the internet marketing business. Terpin describes his own approach to innovative social media marketing. He starts off talking about Market Wire, a means to send out press releases via the internet. The primary advantage of this method, back at its genesis, was that it filled a useful need for journalists and PR firms, in transferring data without requiring the receiver to retype it.

The Bulk of the talk surrounds fund raising for business ventures. He explains how his strategy surrounding spending capital paid off for him, starting off with minimal investment in the 1990s. In the beginning, he says, just work on developing a business model. “There is nothing wrong with bootstrapping…while you’re figuring out your model.” According to Terpin, the key to success is to be raising money, and only investing it where it will bring quick returns. He also stresses the importance of building a solid team around the product, and that at least half the job of a CEO is to have a good team behind a product, with everybody on the same page.

This video is incredibly informative, and offers some sage advice to people who wish to become entrepreneurs, from raising and spending capitol to how to get the word out about your product. For those who have an idea and are looking for a way to turn it into a business, this is exactly the sort of advice that they would want. In a nutshell: Find something that people want, raise money, and fill that need. Do not waste capital, always spend only if there is visible return, and develop a great team. The advice sounds solid, and is delivered candidly. One also senses that it is credible advice, coming from someone who built a company that now does over $100 million in business a year.

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