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Diary of an Entrepreneur: Tony DiBenedetto, Tribridge

Tony DiBenedetto

Editor's note: Due to the threat of Hurricane Irma to the Tampa Bay Area, this event has been postponed until November 14th, 2017, same time, same place as described below.

Tampa Bay Innovation Center, an innovation and entrepreneurship center for technology businesses, will hold its quarterly “Diary of an Entrepreneur” program, part of the TECH Talk series, on Tuesday, Sept. 12, 2017, at 8:30 a.m. at Microsoft Headquarter offices, 5426 Bay Center Dr., Suite 700, Tampa.
 
The September Diary of an Entrepreneur program, “From startup to public company: the strategic investments that fueled the growth of Tribridge,” will be presented by Tony DiBenedetto, Tribridge chairman and CEO. 

DiBenedetto will discuss leading Tampa-based Tribridge from a startup in 1998 to a $180 million software, services and cloud business before recently being acquired by DXC, the world’s leading independent, end-to-end IT services company. He will share his journey on growing Tribridge through outside capital as well as strategic investments in developing culture, talent and innovation, according to a news release.

83 Degrees asked DiBenedetto a few questions to give our readers a sneak peak at the discussion. Here’s the result:

83 Degrees: What advice do you have for a young, tech startup today?

Tony DiBenedetto: Here are a few things I’ve learned from being an entrepreneur:
  • Passion. You have to really love the product or service you are selling. Starting a business is a 24/7 job and can put a lot of stress on your relationships. Also be prepared to get turned down -- rejection is part of it. Passion for what you do will help you overcome the personal obstacles.
  • Good People. Whether you need 1 or 300 employees, you’ve got to be able to attract talent. What will make someone take the risk in joining a start-up? Some people are attracted to the business idea itself, for some it’s leadership and for other it’s compensation. I would start with people who share your values and then evaluate their skills. 
  • Cash is King. Having a great idea for a new business isn’t enough. You need a well capitalized plan with plenty of cash. Take the time to think through the business model and what the costs truly are. Go into it with low expectations of revenue while you ramp up.  
  • Differentiate. Find an underserved market, and distinguish yourself from the competition. Even if it’s a large market, you can still identify a need or a gap that needs to be filled. You have to want to make the product or service better than what is already out there in order to truly differentiate your business.
83D: Please discuss the importance of innovation and how it has contributed to Tribridge’s success story.

TD: Technology is a highly competitive market so we have to be innovative and take risks. Entrepreneurial spirit has been one of our core values since Tribridge was started. Many of our software and cloud solutions came from ideas from our team members. We also use the fast fail model to help drive innovation. It’s a cultural movement that empowers people to implement new ideas. But if the idea doesn’t work, you pull the plug and quickly move on rather than trying to salvage something to the detriment of your customers, team members and the business. You have to build a culture of open communication and collaboration where team members feel comfortable generating a lot of ideas. Then you take action – launch the new service or pilot program – establish the goals for success early and measure them often. 

There is no fee to attend the Tampa Bay Innovation Center TECH Talk series, but space is limited. Advance registration is suggested.

Read more articles by Cheryl Rogers.

Cheryl Rogers is an editor and feature writer for 83 Degrees Media in the Tampa Bay region of Florida.
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