Innovation is the mainstay of Beck Besecker’s life. The Dayton native started Marxent, a company that develops augmented reality and virtual reality apps for retail and manufacturing industries. He serves as CEO and founded the company with his brother, Barry, back in 2011.
The augmented and virtual reality revenue forecast is expected to hit $120 billion by 2020, according to Digi-Capital.
Besecker recently talked with the Dayton Daily News and shared four tips on how to increase entrepreneurial innovation.
• Find a problem, solve it, work it until you get something remarkable. Fail fast, learn and move on. Don’t get attached to ideas, don’t give up, always be learning and pivot quickly when you have data that tells you that your initial idea isn’t working out. If you think this will happen overnight, you are probably wrong.
• Listening is important. If you’re not listening, you probably won’t make it. It is easy to fall in love with ideas and work them to death even when the market or initial outcomes are telling you otherwise.
• When it comes to investors, be picky. Find funding partners that understand and support entrepreneurial spirit and put culture and overall success first. On the one hand, there is the building of a product or the creation of an idea that can pay off in multiples for a venture investor. On the other hand, there is the commitment to building a solid company that is a great place to work, creating jobs in a community, and leaving a lasting impression on the world. This is the essence of disruption.
• Hire great people, value them and invest in them. No one does it alone. A big idea and an initial investment don’t make a successful business. It takes great people, loyalty, team work, and supportive investors whose values and advisory abilities align with the company’s needs and ongoing investment over time.
Besecker said Marxent’s goal has always been to “build a successful, sustainable and stable company, to create interesting jobs in Dayton, and to design a company culture that makes us want to go to work in the morning.” Besecker loves the Miami Valley for its combination of resources, talent and lifestyle.
“We attract people who want to work hard, value family and want to surround themselves with big ideas but not big egos,” he said.
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