Hi Steemers! My name is Andreas. I am a serial entrepreneur from Sweden. I will be sharing my own thoughts, experiences and other information I find useful around starting your own company. If I can inspire, help or motivate just one of you to found a company, that would be fantastic! And if you do, please let me know.
In Sweden the start-up community has been growing exponentially during the last decade. Companies like Skype and Spotify are two great examples. I have so far founded 3 start-ups. My latest is Apptimate, which you can check out on this link if you like (https://apptimate.io/). I founded my first company in 2004. We had 3 rather small kids and starting a company with no cash to invest was not the best combination, especially when I wanted to go all in in both roles. But I needed to do it. I was trapped in a “Big Corp” where all my sweat and all my energy were wasted for someone that had no clue I even existed, and didn’t care. I just had to get out. And I did.
My story
In 2004 I had a great idea for a company but I did not have the guts to leave the safe employment I had to realize it. Instead I decided to stay at my daytime job (Business Area Manager at “Big Corp”), raise 3 small kids and start a company at the same time. Unless you are superman or superwoman that is not a good idea. I completely crashed and burned. During a 3 months recovery period, mostly spent in bed, the decision was made; I took the leap of faith, quit my old job and together with a friend started to raise money for my start-up . It was completely new ground for us. We had no previous experience with Venture Capitalists, Business plans or standing on stages with audience waiting for a fantastic sales pitch. And we had no idea how many questions we would get, how many calls we would have to make and how many “not interested” we would hear. But we did it. It was not easy but it surely was an adventure! In 2008 the company went public and I left to start my second one.
Why you should start your own Company
I like to compare running a start-up with crossing the Atlantic in a small sail boat. You will face many challenges and feel lost some times, but you will have fantastic days when you surf the waves and feel awesome. Whatever happens, you and your team have to fix it. No-one else will. At the same time, you are in charge. Whatever you decide, that’s the strategy. Using the same metaphor in a “Big Corp” you hardly even know what weather it is or where you are going. What you do know is that you have to work you but off.
I have never worked in a better environment than in my start-ups. The team-spirit you can build is amazing. Everyone in the team knows that whatever they achieve today will benefit the others. When you have some struggles the team will help. You work hard together to overcome problems and you celebrate (even harder) when you reach your goals. That is the beauty. I love it. When you go on your own, in a team or by yourself, you really change your life. But there is no reward without a risk. And the risk is in most cases related to salary. Good to have for paying bills right. What I am saying is that you have to take a leap of faith. And the reward might be fantastic. But do it with a plan!
Some advice
After more than 20 years of experience of successes and setbacks, I have come to some conclusions as valid for start-ups as they are for multinational large companies, and I use it in my daily work.
- Find out your customers’ needs. Do not invent products at the office. And go for the Minimum Viable Product!
- Understand the processes in your company, from development to money in the bank. Focus on the things you can improve. Adapt to the others.
- Find your organisations strengths and weaknesses. Use that knowledge to build a strong team. The team makes the difference between failure and success.
- Make decisions. There are no situations when you have all the information you need. Ever.
- Solve the problems that will occur asap. How to find solutions will define your chance to succeed.
- Treat your customers tenderly. They are your best sales force. A happy customer will recommend you to others.
- Be stubborn and prepare for the Pi-factor. Everything will take 3,14 times longer and cost 3,14 times more. Unfortunately.
I will in my coming posts look at the steps to take when you want to start a company including funding, sales, marketing, product roadmap etc. and also make interviews with skilled people in my network.
I would really like if you share your stories and you are welcome to post questions.
Stay creative out there and never give up on your dreams! “The ox is slow, but the earth is patient.”
//Andreas
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