my startup learnings

My Startup Learnings(or mistakes I did while trying to create a company)

Robert Pohl - @robertpohlrobert@mondido.com

About me

• Nerd

• Developer

• Entrepreneur

• Doer

Mondido Payments

• CEO and Co-Founder of Mondido Payments

• Global data-driven payment service

• 1.5 Years of development

• Went live Sept 3, 2014

Learning # 1

• What’s the problem?

• Who has the problem?

Build and they will

come+

No validation=

Fail

Normal process is like

ConceptProduct

developmentAlpha/Beta Launch

Get customer validation!

ConceptProduct

developmentAlpha/Beta Launch

Who has this problem?

What do they say about the solution?

Will they use it?Pay for it?

How do we get ppl to pay for it?

Learning # 2

• Team

Two is good

Two is good

Developer Everything

Three is better

Developer Everything Developer

Design Financial Architecture

Sales Sales Sales

Learning # 3

• Execution

– Reid Hoffman, LinkedIn co-founder

“If you are not embarrassed by the first version of your product, you’ve

launched too late.”

Dangers in Distractions

• Competitions (it rarely validates your business idea)

• Partners (the company between you and your customers)

• Meet-ups etc. (you should launch, not listen to people like me)

• Techcrunch (mostly it makes you feel like a looser)

• Investor meetings (they won’t invest in you. Probably.)

Have a boss!

Make it happen

• Sell (no, I mean it. Sell it early!)

• Find early adopters (ambassadors)

• Join Accelerators, Co-Working spaces (SUP46, STING FFW)

• Launch fast, Learn fast

• Get some extra cash (ALMI, Vinnova, FFF)

Phew…

Whats the difference between a successful entrepreneur and an unsuccessful one?

The successful entrepreneur didn’t give up.

The successful entrepreneur didn’t give up.

Remember to have funRemember to enjoy

Remember to live your dream

Thanks!

We’re Hiring!

Backend Developers

RailsAWS

SecurityPerformance

Frontend Developers

HTMLJS

Responsive UI’sDashboards

Robert Pohl - @robertpohlrobert@mondido.com

Meet us @ Dreamhack!

Europes biggest Hackaton

Sept 26-27

Well be sponsoring the Payment competition

http://www.dreamhack.se/stockholm14/hackathon/