Richard Wagner of Prevedere
Richard Wagner is founder of Prevedere, Inc.
The Columbus-based company develops industry and location-specific economic forecasting software.
Please explain the services/solutions Prevedere currently provides, and the growth you'd like to see for the company in the future.
Prevedere, an Italian verb meaning “to foresee,” provides software that gives companies the ability to identify, collect and report on key external economic drivers that affect business results. Prevedere’s patent-pending software application uses advanced business intelligence and forecasting techniques not found in any other application in the enterprise software market. Users of Prevedere software include key decision makers in finance, strategy, risk, growth and marketing for mid-to large-sized organizations.
Prevedere current plans are to implement the software in at least one hundred large clients over the next five years.
How old were you when you founded Prevedere?
Forty. The company was founded in 2010.
What’s your projected annual revenue?
We are anticipating reaching the 30+ million dollar mark by year five through direct sales and strategic partnerships.
Number of employees?
During year one, we anticipate six employees, ramping up to 50 by year five.
Where did you find your first employee?
Our first employee was a former account representative for a past employer. He has years of experience in selling and supporting solutions from the IBM platform, one of the top software companies in the world.
Did you consider yourself an entrepreneur before starting your business?
Yes, I have some experience in starting companies in the past. My family has always owned their own businesses. I spent a lot of time growing up around small business owners and even found the feeling of entrepreneurship in my corporate role over the last 13 years. My past employer was a U.S. Fortune 500 company that adopted the motto “run it like you own it” early in my career. The company continues to drive that philosophy and it has stuck with me.
What’s the most difficult thing about running your own business?
Balancing time between customers, product and services development and the necessary items needed to start a company (payroll, taxes, licensing, legal, fund raising).
What’s the best thing?
The feedback and support you receive when customers understand the value you can provide them and the validation that your idea and hard work are worthwhile.
What has contributed most to your growth?
Two things. First, my background in technology paired with the ability to translate that background into useful information for leaders within organizations. Second, the relationships I have built with very successful people in the corporate environment and community such as Craig Marshall, Managing Partner at Ernst & Young here in Columbus.
What companies or founders do you admire and why?
There are several. The obvious: technology founders such as Bill Gates and Steve Jobs that started from small means with game-changing ideas that become widely successful. My uncle, Bill Steed. He taught me the value of hard work as he started his own small business in Zanesville, Ohio. Also, my past employer Momentive. The company is owned by a by a very dynamic and energetic Private Equity group, Apollo, and has a leadership team that I admire greatly. They have been 100 percent supportive in my professional and personal development over the past 13 years. I hope I can do something similar for my employees in the future.
Really, anyone that is willing to work hard at something they are passionate about and who takes the risk to introduce new ideas that truly improve the way people deal with meaningful problems.
Writer: Kitty McConnell