After working in Spotify
and Wrapp, two of our valued mentor, Andreas Ehn and Lisa Enckell, decided to visit us in Kejora on November 25th all the way from Sweden to talk about their experience in creating a start-up. They talked about the mistake they made in Wrapp, where they expanded in different countries when they were not ready and not willing to expand. Eventually they had to close down their overseas branches and return back to Sweden. When launching a start-up, you have to start by creating a target audience. Your ideal consumer you would like to sell to. By knowing the following, you can understand what research you have to make on your customer and understand your position in the market.
When targeting your audience, always include user benefits for your product. In addition when measuring growth, always make sure that you are using the right measurement to find the accurate data. You have to understand the different type
of consumers in the market, there are some that want to belong, others want to stand out. There is no doubt that that are challenges you would meet when creating a start-up. How can you grow and scale your start-up without an opportunity cost? According to Mr. Ehn, you can do the following through recruiting the right organization and solving the management problem. Mr. Ehn also warns everyone to be careful of false product market-fit because it is not always obvious. Overall, the session was very informational and useful for our founder teams.