Internet Start-up - 4 tips
This one is for everyone, that is why I wrote it in english
This post is about surviving as start-up on the internet. I will write this post directly to you my future friend and customer.
My name is Andreas, Mr. Wickberg to you ;), and I am the CEO of Wiccon, I have succeeded, I have failed, I have made money and I have lost money. Today I consult several venture capitalist companies regarding second opinion about their future (internet start-up) endeavors and also the everyday entrepreneurs seeking benefits from the Swedish government to start their businesses as a consultant.
First of all; we will not do the job for you. Yeah, I said it!
-When you approach organizations like venture capitalists or web- and system companies such as Wiccon and ask for our help it is really good if you know what you are talking about. Perform a market research, map the competition and if you invent something new. Describe in detail why this is the best invention ever. Describe it like the audience are retards! AND make a “fake commercial” or something similar so you fetch the attention and make everyone know just how awesome your service is on your first pitch. All question marks must be eliminated, this shows us that you are ready to work and that you know what you are doing. If you pitch an Idea without the specifics or the benefits, we won’t find them for you. If you are on your way and we find it interesting of course we will help you. But do your best first!
Second; people do business with people!
-It is you we are doing business with, not the future brand. You need to show us that you are a great leader and that whatever you are doing you will be successful. Be sure to specify what kind of education you have and how your previous experience is key to make this work. This is probably the reason why you invented this idea.
Third; what do you want help with?
-Often when it comes to building something on the web, the first step is to develop a demo or a first version of the program. A MVP (Minimum Viable Product) shows the future investors what you are trying to do. So, you have the idea, you have some money to invest and you need the first platform to show the investors. Please specify the exact functions which is key for your platform, the one, two or three things that makes it unique. Only develop these things, when they are done and the investors can see what you are up to they are more likely to invest. The investors will ask you what the money will go to and answers like “brush up the design” and “add the rest of the functionality” are often liked. These answers tell the investors that this is the beginning and that there is a plan.
Forth; brand value and benchmarking.
-So you got some money to start the company for real now, this is when the hard work really begins. You didn’t win because you got some capital, now it is time to start saving the money you just got, the money grants you runway. The strip of meters you get to get your idea up in the air. After 6-12 months the investors are going to want to know how their investment is going. If you don’t have paying customers and are out of runway… Needless to say, that is a bad sign. The value of your brand will be significantly lower and to keep striving forward you might have to give up more of your shares in order to get more money or runway from your investors.
Scratching the surface
So, this is just some words about what I have seen during my years in this business. Wiccon is a web- and systems development company with experience in start-ups. The start-up teams you see on TV is usually hired by the start-up, Wiccon is like that except we have our own office and we don’t move in to your garage. We also have some really awesome hardware, you don’t have to build a server room in your basement. During this start-up, we just make everything work so you can focus on your business! Wiccon has on several occasions helped young entrepreneurs to get their MVP’s going even though the budget has been a little short, we reckon that if we do this maybe one in five become a great success. That in turn is awesome for us.
Don’t hesitate, give us a call and let’s see if we can buy you a cup of coffee and see how your idea is the best one ever. And maybe, how it can attract some investors.
I am friendly, I promise.