Within the framework of all-Ukrainian information tour Radar Tech three cool leaders in the area of start-up ideas have shared their knowledge about achievements and mistakes, how to make a start-up profitable, and also, where to take ideas from. We talked about the advantages of the Ukrainian market and the motivation which will help to achieve success in business you are starting.
Oleksii Mas, a founder of Pozitiv.ua and an adviser of President of Digital and Information Technologies “Kyivstar”
“Do you want any changes? Programme a victory!”
Which mistakes to avoid and which ones to make?
At the initial stage of a start-up development you should realize that not every start-up needs an investor, but every investor needs a start-up. Some of my businesses may be called start-ups. Also, I am a member of an expert committee of several internet-incubators (GrouthUP and Startup.ua), and I can make a conclusion that start-uppers are people who are not afraid of mistakes.
They are venturous and audacious people. If they are able to make conclusions from their mistakes, they will reach a goal. Careful and cautious people will never create a start-up, because this is automatically, in the default mode, a risk business. And here you can either win or lose. If a danger to lose, scares you, start-ups is not your way.
To win in corporate accelerators, first, you must not think about money. Greed is a sin of a start-upper. If finance is more important for you than the product itself, this is not about start-up, either.
A start-up is usually unprofitable, as for the team, so for the investors, at the beginning. But a tricky part is that people, who dream of money, will stay under lock and key. And those dreaming about changing the world will finally get rich.
To be a start-upper is…
First of all, you should understand that only you is little to manage the organization. All my successful businesses were done by at least two people. However, I did not manage to go far from this number.
A start-upper must learn quickly. He must suffer bumps and bruises and believe that his idea will win.
The number of mistakes identifies your progress in the project development. If you do not make mistakes, maybe, you have already died.
Start-uppers make millions of experiments. There are no mistakes, then you lack audacity. It is a pity, that start-up creators sometimes allow themselves to daunt with their ignorance. All they can do is to beg with an outstretched hand for money from investors or to make presentations. But making presentations and creating start-ups are absolutely different things.
Which project will be successful?
A project, a site, or an application cannot be successful if it is overloaded with incomprehensible functions. It is better to focus on one clear function which will allow the project to stay at the level and win.
In cooperation with people, keep in mind that your team is far from ideal. And users as well. In addition, people are lazy to get into nuts and bolts in what you have created in your project. As a result, they spend 5 minutes on your site. And everything that a person managed to see for this time, must describe you. Also, collect data-base with users’ propositions. Even for small projects.
One more mistake is to do a project for sale. The creator of Ikea will never sell it, because he is a part of this project. And if you are not a part of the project, it is unsuccessful.
When I am told that a project is for sale, I do not recommend anybody to invest in them.
Projects usually begin to be successful in 3 years. This is an average speed, and before this is a hard work.
It is important that creators of this business have not given up thousands of time before users know that such a business exists.
Thus, big businesses of the present time are results of incredible devotion of their founders to their business idea.
Maksym Bakhmatov, a member of a strategic group of Radar Tech and an Executive Partner of UNIT.City
The first year of any start-up is the most difficult. The creators will encounter tough reality, searching for their market fit, overcoming challenges of business environment. This is only a small part of obstacles you will have to face. I would recommend you to focus exactly on the stuff you have a talent for. To develop your ideas in Ukraine, you need eagerness and 99% of efforts.
Either you build a coffee house or a technological start-up, your eyes must spark.
To avoid mistakes, remember that from the very beginning you are not the brightest crayon in the box. Even Instagram was making over its project more than 70 times.
The Ukrainian market currently has significant advantages in the world, there are a lot of opportunities here. For quite not big money you can implement a lot of your ideas and be competitive.
Nataliia Tabachyn, a project manager of the Community Nravo Kids
I can share my achievements from my own experience: project Nravo Kids is already three years. For this time, 6 children applications have been launched, 3 printed sets of “Creative Nravos”, a big parent community in Facebook has been organized. Also, we keep an active blog for parents.
To gain attention of big corporations, young entrepreneurs must make a lot of efforts. Nravo Kids now has two common projects with big corporations, Microsoft Ukraine and Kyivstar. Cooperation of a start-up with a corporation of such a standard usually takes place due to unique characteristics of the project.
There are no universal patterns here, everything depends on many factors. Arranging all working moments takes quite a lot of time, and you should be ready to this. And then everything depends on creativity, persistence and efficiency.
In Ukraine there are still a lot of innovative ideas, which can be implemented, if to search for solutions. Participation in accelerators also promotes project development. Accelerators are useful for start-uppers in the way that people learn here, test their ideas for efficiency, and communicate with different experts. This environment inspires many people, allows to go out from a comfort zone and to accept a certain challenge, to get experience.
A start-up often searches for its own development way, and an accelerator is usually a certain step, having passed which, you raise higher.
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