Finding Validation in Serving Customers

The CEO of email marketing company Mailchimp discusses growing a business away from the spotlight and why he has turned down outside funding.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Creator & Host, The Startup Story
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Ben Chestnut is the co-founder and CEO of Mailchimp, an email marketing company. In this clip from an episode of “The Startup Story” podcast, Chestnut talks to host James McKinney about navigating business jealousy and prioritizing serving customers.

Chestnut discusses seeing competitors make headlines with large funding rounds and feeling a lack of validation for his company’s work in the past. He said he overcame the jealousy by focusing on serving his customers, making their purchases the validation he prioritized. He also talks about the 2008 recession and how focusing on work, delegating more and the trend towards online marketing enabled the company to grow quickly.

Chestnut talks about why he and Mailchimp avoided outside funding, noting that the venture capitalists who approached them did not understand SaaS or their business model of serving small business customers. He says that while serving small businesses isn’t predictable, he knew that it could be lucrative.  

Related: Making Vulnerability a Strength

More from Entrepreneur

Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization!
  1. Schedule a FREE one-on-one session with a Franchise Advisor
  2. Choose one of our programs that matches your needs, budget, and timeline
  3. Launch your new franchise organization
Entrepreneur Insider members enjoy exclusive access to business resources for just $5/mo:
  • Premium articles, videos, and webinars
  • An ad-free experience
  • A weekly newsletter
  • Bonus: A FREE 1-year Entrepreneur magazine subscription delivered directly to you
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur