Interview with CEO of Echo

SelectedFirms in an Exclusive Interview with Lou Reverchuk, CEO of Echo

 

1.  What inspired you to start Echo, and what are the company's core values and mission?

 

Before establishing Echo, I was a freelance web developer and internet marketer. Eventually, I reached a point where I wanted to channel my skills and experience into embracing new opportunities. Additionally, I felt a lack of management abilities, and founding my own firm seemed like the ideal path towards acquiring a practical business education.

 

Over a decade, our company encountered numerous ups and downs. However, our fundamental values have remained the same: honesty, responsibility, perseverance, ambition, initiative, and teamwork. These core principles serve as my compass during turbulent periods and enable me to make the right decisions.

 

2. Can you share some of the most challenging projects that Echo has undertaken and how the company overcame those challenges?

 

Concerning technical complexity, we have undertaken numerous projects and successfully delivered them. One of the most significant business challenges Echo encountered was establishing and maintaining a substantial development team of nearly 40 individuals. However, after a few years of successful collaboration, an even more demanding endeavor presented itself: the seamless transition of this team to the client and executing a partial exit. This experience holds immense value for us.

 

3. In your opinion, what are the key trends that are currently shaping the IT industry, and how is Echo adapting to these trends?

 

Without a doubt, Artificial Intelligence is currently the most significant trend, particularly in the realm of generative AI, such as ChatGPT. We have observed a surge in the demand for proficient professionals in this domain, such as Python developers. At Echo, we strive to align our marketing strategies with the evolving AI landscape. Another prominent trend we are witnessing is the increasing prevalence of remote work, and I firmly believe that people will continue to embrace this approach, regardless of Elon Musk's stance. Consequently, we will continue to expand our team by hiring remote workers.

 

4. What sets Echo apart from other IT service companies, and what are some of the company's unique strengths?

 

The market we operate in is highly commoditized, making it extremely challenging to distinguish ourselves from our competitors. I have repeatedly asked myself what sets us apart, and, unfortunately, I haven't found the ideal answer yet. Echo is not building spaceships. We just find, validate and retain the right tech people. Additionally, we prioritize exceptional customer service and consistently engage in open discussions to address and resolve any challenges we encounter along the way.

 

5. What are some of Echo's long-term goals and ambitions for the future, and how does the company plan to achieve these goals?

 

There are numerous opportunities, but establishing Echo as the primary income generator for 100 remote software engineers appears to be the most ambitious yet achievable goal.

 

6. What specific contributions does your IT staffing team make to previous projects?

 

We hire the right people, and they solve clients' tech problems. You can check some success stories at our website - https://echoglobal.tech/case-studies/. However, it is important to note that most of our completed projects revolve around software modernization rather than starting from the ground up to build minimum viable products (MVPs).

 

7. Can you speak to the company culture at Echo and how it contributes to the business's success?

 

I used to think that "culture" was just a buzzword, but I was wrong. A strong company culture and core values serve as a solid foundation for achieving business success. It took me considerable time to fully grasp this truth. In simple words, we follow this codex at Echo:

 

• Honesty is the best policy.
• Do it with passion or not at all.
• Hard work pays off.
• No excuses; just get it done!

 

8. What are your thoughts on the recent buzz surrounding technologies such as AI, ML, and RPA?

 

As I mentioned earlier, artificial intelligence (AI) is currently reshaping our future, and all aspects of AI will thrive in the coming years. Personally, I believe that this is an ideal time to develop AI products alongside our IT services.

 

9. As a CEO, how do you motivate and inspire your team to achieve their best work?

 

First of all, my key team members have access to all financial reports and share in the company's profits. Additionally, we conduct regular online and offline meetings to review our goals, establish new objectives, and progress collectively.

 

10. You've been in this sphere for a long time; what advice would you give to aspiring entrepreneurs looking to start a successful software development company?

 

My playful recommendation would actually be to consider opening a kebab joint rather than diving into the software development business! That's just a little joke, of course. To provide a serious answer, the most crucial piece of advice I could give is this: Begin Now. Don't postpone your start date, waiting for the perfect moment, potential investors, or additional capital.

 

Embrace the reality that you'll make a number of mistakes along the way, but remember, the ability to bounce back quickly is invaluable. Maintain your drive and keep pushing forward relentlessly. With persistence and hard work, you'll find your way to success.