Wyatt Wells, an IU Bloomington alumnus, is chief marketing officer of The Bee Corp. The company offers Verifli, an infrared image analysis tool that helps growers measure pollination value. Verifli allows growers and beekeepers to quickly assess the quality of hives rented for pollination without disturbing the bees.
Crimson Catalyst: If a person has an idea for a business, what are the first three actions they should take to make it a reality?
Wyatt Wells: 1: Discuss your idea with a potential buyer/end user. 2: Find out the minimum value your idea needs to deliver for them to buy it. 3: Ask them to buy it, and then build it.
CC: What has surprised you during the course of your day-to-day entrepreneurial journey?
WW: People will be quick to applaud you for what you’re doing even if it feels like you haven’t done anything yet. Some days it can feel like everything is collapsing, but after work your friends will say stuff like “What you’re doing is so cool!”
CC: How do you define success?
WW: Building something meaningful for your customers. Nothing else matters unless your customers are happy.
CC: What is dangerous or scary about being an entrepreneur?
WW: There’s a ton of risk at every stage, but everything changes once you start to hire full-time staff. Once you’ve got families who depend on you for income, health care and stability, the pressure to perform is much stronger.
CC: What is the best advice you’ve received?
WW: My high school wrestling coach once told me, “Nothing’s mandatory.” He was referring to an upcoming tournament I didn’t want to go to, but it still sticks with me more than a decade later.
CC: What is the best advice you can offer?
WW: Surround yourself with people who are both supportive and critical. You need people who pick apart your ideas just as much as you need people who have your back when things go poorly.