Today we have selected Misha Krunic to take his interview. He is the CEO Of Price2Spy.
First of all, how are you and your family doing in these COVID-19 times?
Thank you very much for asking! These times are challenging indeed, but we’re doing good. Moreover, I have an impression that all of us are showing more solidarity during these hard times. We’re witnessing it even in the communication with our clients – it’s nice to see that we all understand that it’s not always just about the business.
Tell us about you, your career, how you founded or joined this company?
It all started back in 1996 when I got my first job as a young Software Engineering graduate. I ended up loving building websites so much that I even started doing it in my free time. Since I’m a huge football fan, it was logical to create something football-related. Therefore, my first online store was meant for selling jerseys. One thing led to another, and in 2005 I ended up with 5 online stores.
Later on, my company owned the largest online store in Serbia (TakoLako) and that’s where the idea of price monitoring has first emerged. It became rather difficult to keep up with competitors’ price changes, and we got an idea to try making that process automated. That’s how we came up with the idea of creating Price2Spy, a software that will do all the tedious work instead of us. Soon enough it became clear that we’ve created something big, and that it was time to show it to the world.
Today, I can proudly say that Price2Spy works with 27 industries and has the trust of 720 clients worldwide!
How does your company innovate?
Our development team of course plays an enormous role here. We’re always trying to come up with fresh ideas, so we tend to test new features or approaches from time to time. However, over time we’ve understood that one of the key reasons behind our success is listening to what our customers have to say. If there is anything that they are not satisfied with, or they are looking for a specific solution – that’s our clue! Believe it or not, but almost 80% of our services came from clients’ ideas!
How the coronavirus pandemic affects your business and how are you coping?
Unfortunately, there’s no business that hasn’t felt the pandemic impact. I agree that IT companies are not as affected as some other sectors, but contrary to popular belief, we’re also experiencing hard times. During the first pandemic wave, I must admit that the fear was present – mostly due to uncertainty. As we started to get our heads around the situation, we were able to slowly get back on track. It helped a lot that some of our biggest clients extended their subscriptions (and signed very long contracts). Also, some new, important clients have appeared, so all in all, I would say that we’re going in the right direction.
Did you have to make difficult choices and what are the lessons learned?
When your clients have to close their businesses due to the pandemic, there is really not much left for you to do or say. We’ve tried to compromise with some of them, but if they have no other option but to close their business, we simply need to accept it.
Therefore, I would say that the hardest thing is making decisions when everything around you is completely uncertain.
On the other hand, this situation has shown me our team strength. Everyone kept giving their best while working remotely, so our transition has gone pretty smoothly.
What specific tools, software, and management skills are helping you navigate the crisis?
I believe that we all agree that transferring the whole company remotely is definitely a challenge in itself. In our case, working remotely hasn’t affected our relationship with the clients since our communication was on Zoom and Skype even before the pandemic. However, our internal communication has gone under changes. We’re using Slack more than ever, and even though everyone got used to it, we all miss face-to-face communication.
Who are your competitors? And how do you plan to stay in the game?
When we started this business – we were #3 such companies worldwide, which gave us a great head start. However, over the years, the number of competitors has been steadily growing – so right now I can safely say that we have more than 60 competitors, out of which 15 or so can be considered serious ones. The numbers keep changing, and one thing is certain – competing won’t become any easier. However, our mission is always the same – trying hard and providing the best service to our clients. We’re constantly paying attention to market changes, and brainstorming new, upgraded features. I’m very thankful that our clients recognize our efforts.
Your Final Thoughts
If there is anything positive in this situation, then I would say that’s the fact that both clients and businesses have understood the importance of eCommerce. Everyone has been affected, but those who were already opened to eCommerce have suffered less. My career path has not always been the easiest, but I would say that this period has been the most challenging one. As a tech guy, I’m used to precise calculations, always knowing and understanding the reasons and outcomes, but this situation was something completely different. However, I’m grateful that it has shown us that we, as a business, are on the right path and that strength is always in the team! 🙂
- Spokesperson: Misha Krunic
- Company: Price2Spy
- Website link: https://www.price2spy.com/