Transperfect Founder: How I Built A $1.1 Billion Dollar Business From My Dorm Room

This episode features Liz Elting, the founder of TransPerfect, shares her journey of building a billion-dollar language solutions company. She discusses the importance of identifying a gap in the market and focusing on sales and revenue to scale the business globally. This episode emphasizes the significance of providing exceptional service and anticipating client needs, while it also highlights the value of building a strong sales team and creating a culture of competition and recognition. Throughout the conversation, Liz and John emphasize the importance of dreaming big and continuously setting and achieving goals. Don't miss this exciting episode! Episode Highlights "A lot of people want this easy money, this easy billion dollar unicorn. But yeah, it's all about kind of going in there, working hard, building the team, incentivizing the team, retaining the team, but it takes time and it involves not quitting." - Liz Elting "I always tell our listeners, there's just two types of companies, the quick and the dead, especially in the entrepreneur world and startups, right? But if you wanna make the most money, you've gotta solve the biggest problem. And you identified that the problem was, there's a lot of linguists out there, but they cannot scale, right?" - John Rankins "I always say the greatest skill, and I've been doing this for 30 years, building and scaling sales teams is listening. And you were listening to the problems. You were listening to what were your clients' biggest struggles. And you took it on your own, even in an entity that wasn't going to entertain it and say, you know what? I'm gonna serve these customers at the highest level. And you solved a bigger problem." - John Rankins "And that's why I always say, don't confuse being an entrepreneur with being an inventor. You do not need to invent something entirely new to be wildly successful. And of course, that's what they did. And that's what we were trying to do. And one of the big differentiators was spoiling the client with service and quality and innovation and anticipating their needs before they knew they had them." - Liz Elting "A lot of people don't know how to push the psychological triggers of the entrepreneur or the salesperson. And if you want it to be consistent, sustainable, and scalable, you identified how to do it, right? With that sustainable commission scheme. That's what we built into the sales machine. We built in rewards, recognition, competition, compensation, so people know what to do, when to do it, how to do it. And guess what? They do it." - John Rankins Connect with Liz Elting Website: https://lizelting.com/ Facebook: https://www.facebook.com/profile.php?id=100001819285273 X: https://twitter.com/LizElting LinkedIn: https://www.linkedin.com/in/lizelting/ Instagram: https://www.instagram.com/lizelting/ TikTok: https://www.tiktok.com/@liz.elting Connect with John RankinsWebsite: https://thesalesmachine.com/ Facebook: https://www.facebook.com/TheSalesMachineOfficial Instagram:https://www.instagram.com/thesalesmachine_official/ LinkedIn:https://www.linkedin.com/company/thesalesmachineofficial/ YouTube:https://www.youtube.com/@JohnRankinsOfficial