Dr. Kerstin Operprieler
Dr. Kerstin Operprieler, a psychologist and business expert, turned her passion for human behavior and gamification into a thriving SaaS (Software as a Service) business. In just six years, she launched and grew her company, PentaQuest, achieving a remarkable six-figure exit through an online marketplace. This story isn't just about numbers, though. It's about how one person's idea grew into a successful business that changed how companies motivate their employees.
PentaQuest is a SaaS tool designed to enhance employee engagement and motivation through gamification. It transforms traditional reward systems by focusing on recognizing behaviors that improve company culture, learning, and reputation, rather than just meeting sales targets or productivity goals. By incorporating elements of game design, PentaQuest makes workplace activities more engaging and rewarding, ultimately fostering a positive and productive work environment.
Dr. Oberprieler's journey is full of valuable lessons for anyone thinking about starting their own business. She faced many challenges along the way, from managing cash flow to overcoming gender bias in the tech world. But she also found creative ways to grow her business, like using her personal brand and tapping into government contracts.
What makes this story stand out is how Dr. Oberprieler used her psychology background to create something innovative. She noticed a gap in employee rewards systems and filled it with a fresh approach. Her success shows the power of combining expertise with a solid business idea.
In this article, we'll walk through Dr. Oberprieler's journey from start to finish. We'll explore how she developed her idea, turned it into a real product, and found customers. We'll also look at the tough decisions she faced, including the choice to sell her business. By the end, you'll have a clear picture of what it takes to build and sell a successful tech company, even as a first-time entrepreneur.
The origin of PentaQuest
Dr. Oberprieler's journey began with her fascination for human behavior. Growing up in a multicultural environment, she learned to understand people from diverse backgrounds. This sparked her curiosity about the drivers behind human actions.
She pursued studies in psychology and business to deepen her understanding of human behavior. During this time, she discovered gamification - a lightbulb moment that showed her how games could motivate people in the workplace.
This realization led to the birth of PentaQuest. It offered a new approach to rewarding employees for fostering a positive work culture. While most companies already had systems to reward things like sales targets, PentaQuest was different. It focused on recognizing behaviors that improved company culture, learning, and reputation.
Validating the concept
Before diving headfirst into building a software platform, Dr. Oberprieler made a smart move. She tested her idea in the real world, starting with a simple, physical leaderboard in an office.
The response was overwhelmingly positive. People would walk by and exclaim, "This is cool! I could use this for my team!" This feedback gave Dr. Oberprieler the confidence that she was onto something promising.
This step proved crucial. By testing her idea first, she minimized the risk of investing time and money into something that might not resonate with people. It's a valuable lesson for any budding entrepreneur: always validate your idea before going all in.
Building the SaaS platform
Once Dr. Oberprieler confirmed people liked her idea, she faced a new challenge. To reach a wider audience, she needed to transform PentaQuest into a digital platform. This was no small feat, especially since she had no prior experience in building software products.
She had to quickly learn about software development, user experience design, and cloud infrastructure. It was a steep learning curve, but her background in psychology and business proved invaluable. She could ensure the software wasn't just technically sound, but also effective at motivating people.
Growing the business
With the software ready, Dr. Oberprieler's next big task was finding customers and scaling the business. She employed several smart strategies:
1. Personal branding: Dr. Oberprieler had already established herself in the gamification world, even delivering a TEDx talk. This reputation helped attract early customers.
Gamification is key to nudging collective behaviour | Kerstin Oberprieler | TEDxCanberra
2. Government contracts: A significant breakthrough came when PentaQuest secured a government contract. This not only brought in revenue but also boosted the company's credibility.
3. Speaking at events: Dr. Oberprieler frequently spoke at conferences and industry events. This helped spread the word about PentaQuest and positioned her as an expert in her field.
4. Networking: She actively engaged with startup networks, particularly the Canberra Innovation Network. This helped her connect with other business owners, share knowledge, and uncover potential partnerships.
Overcoming obstacles
Building PentaQuest wasn't always smooth sailing. Dr. Oberprieler faced several big challenges:
1. Money problems: Like many new businesses, PentaQuest struggled with cash flow at first. Dr. Oberprieler had to be very careful with money to keep the business going.
2. Explaining the concept: Gamification was a new idea for many people. Dr. Oberprieler often had to spend time explaining how it worked and why it was valuable.
3. Technical issues: Building software from scratch was tough. Dr. Oberprieler had to learn new skills quickly and find talented people to help her.
4. Gender bias: As a woman in the tech world, Dr. Oberprieler sometimes faced unfair treatment. She overcame this by focusing on the quality of her work.
Keys to success
Looking back, Dr. Oberprieler identified several things that helped PentaQuest succeed:
1. Clear vision: She strongly believed in what PentaQuest could do. This helped her push through tough times.
2. Support network: Her co-founders, board members, investors, and team all played crucial roles in the company's success.
3. Focus on customers: By always thinking about how to solve customers' problems, PentaQuest stayed relevant and valuable.
4. Always learning: Dr. Oberprieler was always ready to learn new things, which helped her tackle new challenges.
5. Never giving up: Her ability to keep going, even when things got tough, was key to PentaQuest's success.
The decision to sell
After six years of hard work, Dr. Oberprieler made a big decision: to sell PentaQuest. This wasn't an easy choice. She had put her heart and soul into the business. But she was about to have her first child and wanted to focus on her family.
She decided to sell PentaQuest through Flippa, a website for buying and selling online businesses. This turned out to be a great choice. Within days, over 30 people were interested in buying PentaQuest.
Dr. Oberprieler carefully looked at each potential buyer. She wasn't just interested in who would pay the most. She also wanted to find someone who shared her values and vision for PentaQuest's future.
In the end, she successfully sold the business for a six-figure sum. The sale was completed just two weeks before her baby was born. It was perfect timing for this new chapter in her life.
Lessons learned
Dr. Oberprieler's journey with PentaQuest taught her many valuable lessons:
1. Use what you know: Her background in psychology and business was key to PentaQuest's success.
2. Test your idea: Trying out the concept before building the full software saved time and money.
3. Build your brand: Her reputation helped attract customers and partners.
4. Network: Connections with other business owners provided support and opportunities.
5. Keep going: Success often comes to those who don't give up when things get tough.
6. Balance is important: The decision to sell showed the importance of balancing business success with personal goals.
Life after PentaQuest
After selling PentaQuest, Dr. Oberprieler didn't leave the world of behavior change and gamification. Instead, she started working as a consultant. This allowed her to keep using her expertise while having more time for her family.
She also began writing a book about behavior change and gamification. This book aims to share her knowledge and experience with a wider audience. It's a new way for her to make an impact in her field, using both her academic knowledge and real-world business experience.
Conclusion
Dr. Kerstin Oberprieler's story with PentaQuest serves as an inspiring example of building a successful startup. She identified a market gap, tested her idea, developed a product, grew a customer base, and ultimately sold the business for a substantial sum.
Her journey illustrates the power of combining expert knowledge with innovative technology. It underscores the importance of personal branding and networking in the B2B world. And it demonstrates the value of perseverance when facing challenges.
But perhaps the biggest lesson from Oberprieler's story is the importance of balancing business goals with personal life. Her decision to sell PentaQuest when she was about to become a mother reminds us that true success isn't just about money - it's about being happy with your choices.
As for what's next for Dr. Oberprieler? Given her track record, it's sure to be interesting. This might be the end of the PentaQuest chapter, but it's certainly not the end of her story. We'll be watching to see what this innovative psychologist-turned-entrepreneur does next.
