Hello Heini ! Thanks for this great video. Most founders, especially in Africa, a market I am well-versed in, often overlook the crucial concept of scalability before presenting a pitch deck. This is highly important to consider when seeking to raise funds. It's interesting that you brought this up.
Maybe for a feature video because its something where i have diffuclties with. How to find people with the same pov on life. Or how did you meet those people? Love the video’s. Currently working hard to develop my prototype (and than hopefully my MVP)
These are very good points... But I also feel many take on VC / investors when all they really needed to do was to pivot to stay in control (bootstrapped). I think some times seeking investment is the easy way out unless you are taking it to Vivino scale ;)
@@RawStartup I did tell them. The old man, well polished version of Al Pacino look alike, was very receptive. He is going to find Vino app. Correct me if I'm wrong: I told them the Vino app scans the bottles and tells you which is authentic wine depending on buyers preference (sweet or sour)
You say that you cannot scale time, because there is 24 hours in a day. But as the founder of an e-commerce consulting firm, I do have a dream to change the world to become more e-commerce minded, and I do need to scale my business if I want to change the world. Are you saying that this has to happen organically forever and ever, or will some size have a potential to raise money to scale?
You can do that, but you have to find a consulting product that you can sell at scale. That is hard to do with hours, there will never be more that 24 hours in a day.
I think Vino should build hardware to be distributed to wine stores. Ai hardware that helps wine tasting to remind people of what they had tasted previously and what is similar to the previous taste, if they care to try
Question for you Heini. When you started Vivino, the app was not monetized for a while, right? Even so, you are able to get funded by investors because they believe in the later monetization of the app? So an app doesn't have to be for-profit out of the gate, but only needs to show how it could be monetized at a later date? Or am I completely wrong? Thanks.
If you're in a big market and winning, already have a clear idea about the business model should be then you can convince the investors it can wait. It is a land grab, focus on winning first, then revenue.
Cheers. I am developing the application with a small team of selected people. Our development strategy is to start regionally and, based on the experiences of users, try to expand to a larger market. In this sense, point 5 that you mentioned in this video (organic growth without raising money) is interesting to me. Does this mean that if you don't raise money for rapid growth, you're not actually a startup? Is it right to start with organic growth and then go for rapid growth?
Great question in theory you are not really a Startup, by my definition, as your not really growing fast. In reality most Startups go in and out of that. So they are Bootstrapped for periods of their lives. So I would say if you see yourself as a Startup that is what you are.
Again, very interesting video. You got me concerned about "investors don't invest in part-time founders". I had two great ideas and now that I made some money, I built both. Both apps, totally unrelated, are about to go-to-market. Will investors appreciate the creativity and hard work or will they force me to give one up? If so, what's the best exit strategy in such case?
Don’t let some idiots with money change what you’re doing unless you really want the change. You can always do multiple things. Fuck anyone who says otherwise.
