{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"$1.6B CEO Reveals Secret to Identifying Undiscovered Niches","description":"\u201cI had one job, which was to get the data right. Why was that so freaking hard?\u201d asked Barr Moses, co-founder and CEO of Monte Carlo, the world\u2019s first data observability platform, discussing what motivated her to create the product. Having worked with data for 15 years, she realized so many people across the industry couldn\u2019t seem to get it right, nor did they have a systematic, scalable way to make sure data was accurate. In the world we\u2019re living in, where so many people have access to data, just a few minutes of inaccurate data can lead to poor customer experience and millions of dollars in lost revenue. It\u2019s a problem Barr says will only get worse over time, as data becomes more important to infrastructure.  Barr explains what it was like to create a whole new category, something from nothing, even when some people were telling her it would never work and that she was throwing her career away. She knew there was a company to be built there, and she wanted to be the one to do it and be proud of the journey along the way\u2014which she admits is a lot of hard work. Category creation is really solving customer problems, and in so doing, the customer becomes co-creator of the category because they have the answers. Customer happiness is at the heart of the whole operation. Barr expands upon this and other codified values that make up the foundation of Monte Carlo. Barr reveals what the two main rules any business should have, from the beginning and forever. Find out why it\u2019s important that people around you pass \u201cThe Mom Test,\u201d what the odds are that data will ever be 100% accurate, and what it\u2019s like to be married to your co-founder.  Quotes: \u201cThe idea of data being wrong would get a really strong reaction. It resonated. I think that was the first \u2018aha\u2019 moment. People that I didn\u2019t even know would say, \u2018Hell, yes, I have that problem, please help me solve it now. So that was the very first lightbulb moment.\u201d (9:52-10:17 | Barr) \u201cWe\u2019re not looking for someone to say, \u2018Hey we have 100 percent confidence.\u2019 We\u2019re looking for someone to say, \u2018Hey, this data is important enough for us to invest something in making sure that it\u2019s accurate.\u2019 It\u2019s about treating the issue with the diligence it deserves." (15:53-16:07 | Barr) \u201cThink about application reliability: A couple of decades ago, nobody cared if your app was up or down. But then Netflix is down for 45 minutes in 2016 because of duplicate data. Netflix being down is a hell of a problem.\u201d (16:07-16:26 | Barr) \u201cCustomers don\u2019t give a shit about you creating a new category or not. They literally don\u2019t care. They care about, \u2018Are you solving a real problem for me?\u2019 Helping people and solving their problem is way more important.\u201d (32:58-33:20 | Barr) \u201cOur measure of success isn\u2019t years or weeks, it\u2019s literally minutes. Every minute that you\u2019re spending on something should be high-value.\u201d (39:50-40:00 | Barr)  Connect with Brendan Dell:  LinkedIn: https:\/\/www.linkedin.com\/in\/brendandell\/ YouTube: https:\/\/www.youtube.com\/c\/BrendanDell Instagram: @thebrendandell TikTok: @brendandell39 Buy a copy of Brendan\u2019s Book, The 12 Immutable Laws of High-Impact Messaging: https:\/\/www.indiebound.org\/book\/9780578210926    Connect with Barr Moses: LinkedIn: @barrmoses barr@montecarlodata.com Check out Barr Moses recommended books: The Mom Test by Rob Fitzpatrick https:\/\/www.indiebound.org\/search\/book?keys=The+Mom+Test   Daring Greatly: How the Courage to Be Vulnerable Transforms the Way We Live, Love, Parent, and Lead by Brene Brown  https:\/\/www.indiebound.org\/book\/9781592408412   The Score Takes Care of Itself by Bill Walsh, Steve Jamison and Craig Walsh https:\/\/www.indiebound.org\/book\/9781591843474 Please don't forget to rate, comment, and subscribe to Billion Dollar Tech on Apple, Spotify, or wherever you listen to podcasts! Use code Brendan30 for 30% off your annual membership with RiverSide.fm  Podcast production and show notes provided by HiveCast.fm ","author_name":"Billion Dollar Tech","author_url":"https:\/\/brendandell.com\/","html":"