Erno shares lessons learned before and after the launch of Wantlet.
Alltopstartups: What are the lessons you learned before the launch of Wantlet
Erno. We did a lot of research on how people buy stuff and it became obvious that friends and family is a key interest group that helps us decide what we’ll buy. In our own studies, up to 82% of all people seek for advice using social media when planning to buy something. This is the opportunity we understood to be underserved and wanted to create an experience that would let consumers connect through products and services they want.
Alltopstartups: What are the lessons you learned after Wantlet was launched
Erno. Indeed, people want to connect through things they want – but obviously they crave for rational benefits too. Namely, people have been requesting to get deals directly related to what they wanted – and that has been a key priority we’ve been fixing since the launch.
Alltopstartups: What are the biggest challenges you have faced and how did you solve them
Erno. Getting funded; just polish your story and pitch and be active and be persistant
Alltopstartups: What advice do you have for entrepreneurs chasing the startup dream
– get the best people around you, starting from experienced advisers and always when you meet somebody talented try to get them on board even if you don’t know what’s their job is going to be in your company
– focus on the product, make sure you roll out the first version out as early as possible and then listen to the feedback and react on it
– never give up – Never listen to the “ney-sayers” because there will be tons of them, even your best friends
– keep focused, believe on what you know and do
– make decisions and be bold – you have to go for it all the time, don’t stop to sit still
– you have to want it, remember to show it especially to your investors – and don’t just take any money, make sure you have enough funding all the time, look for the smart money with experience and connections
– remember that there is only 100% shares in your company ;)