Pop Quiz, Monday with Tarek Alaruri

As a new software company, it’s hard finding early adopters and product market fit. Listening to customers is the best thing to help overcome these challenges.

Tarek Alaruri

The Pop Quiz, Monday is a fun little exam that we love to give to savvy business owners. The examination is not a surprise after all since the interviewee already knew about the questions in advance. However, we can always pretend and have fun with the scenario of a young entrepreneur sitting in class nervously biting on their pencil. They are ready to take a pop quiz on a chapter that they were supposed to read the night before. Instead, they played Metroid all night on their SNES (Oops, this was me in high school). The real purpose of the pop quiz is that this is a fun way to introduce business tips from real-world experiences that you can not learn in a classroom. We want to thank our entrepreneur for being a good sport and volunteering their time to answer a few questions to help our community grow from their knowledge.

I want to introduce you to our guest today who will be taking our Pop Quiz Monday.

Can you please tell everyone your name?
Tarek Alaruri

Tarek Alaruri
Photo credit: Tarek Alaruri

What is your job role?
COO & Co-Founder

Tell us about your company?
Fairmarkit’s SaaS platform automates the control and optimization of tail spend purchases. While tail spends accounts for about 20% of annual spend, tail spend comprises 80% of a business’s total vendors and purchases, making it a management nightmare. Fairmarkit’s automated processes increase transparency, yielding greater efficiencies and reducing spending by 6-12%.

What do you love most about your job?
Creating something from scratch and building a great team.

What motivates you to get up every day and go to work?
Solving a large problem and helping people build a career that changes their lives for the positive!

How do your co-workers inspire you?
I learn things from the people around me both personally and professionally. From running a marathon to learning product development.

How do you have fun at work (team building, pranks, etc..)?
Our office is pretty fun, we consistently making jokes and picking ourselves up when people are having a hard time.

What are some of the challenges of your job?
As a new software company, it’s hard finding early adopters and product market fit. Listening to customers is the best thing to help overcome these challenges.

What are some lessons learned from a past project that you can share with us?
Being able to try things and move on from failing quickly is the easiest way to succeed.

What advice would you give to someone who is starting in your industry?
Talk to customers, build a great team and challenge yourself to learn/try new things every day.

Thank you for taking our pop quiz today. You get an A+ for effort. You can learn more about our interviewee and their business by visiting them on the web:



Explosive Growth: A Few Things I Learned While Growing To 100 Million Users – And Losing $78 Million

Author: Ricky Singh, MBA

Editor of The Startup Growth.

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