An exclusive Tech Tribune Q&A with Michael Ramlet (co-founder and CEO) of Morning Consult, which was honored in our:
Tell us the origin story of Morning Consult – what problem were you trying to solve and why?
Morning Consult was founded with the conviction that modern global leaders need better daily intelligence to make real-time decisions. Traditional brand, economic, and geo-political research takes too long, costs too much, and offers low quality insights.
We first identified this market opportunity when top business and government executives were trying to understand whether the young and uninsured would enroll in the newly created health insurance exchanges. We surveyed 2,000 U.S. adults online (roughly twice the industry standard then) and found the majority were interested in purchasing.
Later that day, the White House cited our findings in its afternoon press briefing, demonstrating the demand for real-time data. This change in how to measure perception and opinion snowballed, leading to larger projects and allowing us to quit our jobs and start Morning Consult with only $30,000 in angel capital.
What was the biggest hurdle you encountered in your journey?
Our biggest hurdle has been educating leaders that they don’t need to settle. Today’s decisions should not be made based on data from last year or even yesterday. The status quo in the survey research industry is no longer acceptable, and frankly, it never should have been during this past decade.
We tackled this challenge by building technology to revolutionize the scale, quality, and speed of intelligence. Our proprietary SaaS technology platform allows leaders to visualize millions of survey interviews from around the world in real time.
What does the future hold for Morning Consult?
We are expanding our global daily data collection to the world’s 40+ largest economies and launching commercial operations in EMEA and APAC.
By the end of 2021, Morning Consult will be able to deliver the largest and most comprehensive real-time intelligence on brands, economic conditions, and geopolitical risk in the world.
Today and in the future, modern global leaders, including those in corporate, finance, and government, are able to have an advantage in their decision making by leveraging Morning Consult.
What are your thoughts on the local tech startup scene in Washington, D.C.?
Everyone needs to think globally regardless of where you start. We’ve built Morning Consult into a leading global company by building an incredible team worldwide with diverse experiences and relentless grit.
What’s your best advice for aspiring entrepreneurs?
Don’t get too high or too low. The hardest part of entrepreneurship is maintaining a growth mindset at all times and inspiring team members to accomplish something collectively that couldn’t be achieved individually.