Harvest: The Company That Grew Without Funding

Harvest is a time-tracking software company that has achieved significant growth without raising any external funding. The company, founded in 2003 by Danny Wen and Shawn Liu, has reached over 40,000 customers and boasts a team of 51 people. This article delves into the unique strategies employed by Harvest to achieve this remarkable success.

The company’s story begins with the dot-com bubble burst in 2000. Wen and Liu, fresh graduates from Cornell, were working at internet consulting firms when the industry experienced a sharp downturn. This event served as a catalyst for them to pursue their entrepreneurial ambitions.

Early Days: From Consulting to SuprGlu

Wen and Liu founded Iridesco, a design and development agency, in 2003. Initially, they focused on providing development services to clients. Their first projects included a $600 website for their roommate’s aunt’s education video product.

In 2005, they decided to take a month off from consulting to build a content aggregator called SuprGlu, which aimed to aggregate users' posts from services like Flickr, Del.icio.us, and Blogger.

SuprGlu gained some press attention, attracting the interest of a venture capital firm. However, the lack of a revenue model led them to shut down the product.

The Birth of Harvest: A Solution to a Pain Point

While working on SuprGlu, the team identified a pain point in their own agency workflow. They were using Excel for timesheets and realized the need for a web-based solution.

This led to the development of Harvest, a time-tracking software that aimed to simplify and streamline the process for freelancers and agencies.

Early Growth: A Single Customer and Word of Mouth

Within the first month of launching Harvest, the company acquired its first paying customer. This early success was attributed to press coverage, particularly from Lifehacker, and the product’s appeal to bloggers.

Despite limited financial resources, Harvest focused on delivering a high-quality product that would encourage word-of-mouth referrals.

Marketing Strategies: The Deck Network and Targeted Events

To reach a wider audience, Harvest invested in a couple of thousand dollars in advertising on the Deck Network, an independent ad network that targeted design and development audiences. This proved to be an effective channel for acquiring paying customers.

• They also sponsored events like BarCamp and Creative Morning, aligning with their target audience.
• The company launched a New Founder’s Program to provide free access to Harvest for a year to newly established creative studios and designers.

However, the most effective marketing channel for Harvest was word of mouth, driven by the quality of their software and its ability to solve a real problem for businesses.

Innovation and Staying Ahead of the Curve

Harvest has built a reputation for embracing new technology and pushing the boundaries of innovation within the time-tracking software space.

• The company was among the first to launch an iPhone app, even before the App Store existed.
• They were early adopters of Ruby on Rails and integrated with Twitter before many others in their industry.

This aggressive approach to technology adoption has enabled Harvest to maintain its competitive edge and provide a cutting-edge experience for its users.

Growth and Evolution: From Startup to Established Company

As Harvest grew, the company faced new challenges in managing its team and processes. The team has learned to adapt and become more efficient, while continuing to prioritize innovation and risk-taking.

Despite a lack of traditional planning, Harvest maintains a focus on product development and customer experience. Their strategies prioritize providing a solution that meets the needs of small businesses and makes their work more efficient and enjoyable.

Danny Wen's Daily Habits and Decision-Making

Danny Wen, the co-founder of Harvest, emphasizes the importance of decision-making and continuous self-improvement.

• He uses a Google form to review his decisions regularly, evaluating their effectiveness and learning from past experiences.
• He also follows a set of daily habits that focus on productivity and reflection.

These habits and practices contribute to his ability to lead Harvest effectively and drive its continued success.

Key Takeaways: The Harvest Story

Harvest's story provides valuable insights for entrepreneurs and businesses across industries.

• The company’s success demonstrates that it is possible to achieve significant growth without raising external funding.
• Focusing on building a high-quality product and solving real customer problems is crucial for success.
• Embracing innovation and staying ahead of the technology curve can provide a significant competitive advantage.
• Continuous improvement and reflection are essential for long-term success.

Harvest's journey serves as an inspiration for startups and established businesses seeking to build a successful and sustainable company.