#34: Blazing Your Own Trail and Strategic Risk Taking with Vidyard Co-Founder and CEO

Michael Litt (@michaellitt) is the CEO and co-founder of Vidyard, a leading provider of video hosting software for businesses and the kind of high-growth company you might expect to find in Silicon Valley. Although the company completed the prestigious Bay Area accelerator Y Combinator, it began and continues to operate in Kitchener, Ontario. CEO Michael Litt co-founded Vidyard in 2011, and the company has since raised over $60 million and gained world-class brands like LinkedIn, Lenovo, Sharp, Rockwell Automation, Honeywell and Cengage as customers. Litt credits much of Vidyard’s success to the thriving entrepreneurial communities of Kitchener and nearby Waterloo, as well as the co-op program at his alma mater, the University of Waterloo, that helped him build a company that solved a real business need. Litt and I met last year at the Salesforce user conference, Dreamforce, to record this interview. As we sat in the green room on beanbag chairs, Litt shared some of his most valuable secrets behind Vidyard’s growth. Among them are the foresight he had to take an amazing opportunity over a quick paycheck, his perseverance in the face of investors and customers saying “no,” and of course, the power that video can hold for enterprise businesses. When you’re finished listening to this week’s episode, head over to Vidyard’s website to learn more about the company and its products, and reach out to Litt on Twitter @michaellitt to tell him what you thought of the show. In this episode with Michael Litt, you’ll learn: -- How a co-op education can help you launch a successful business -- The kind of traction you can find by solving real problems in your industry -- Why you should sometimes choose a great opportunity over a large paycheck -- The most important kind of validation a startup can have -- Why you shouldn’t give up when someone says “no” -- How you can use video to pitch customers and investors ---- Download show notes and transcripts at www.powderkeg.com This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you. DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup. So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg. Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you. We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes