THINK. TECH. DISCOVER.
WHEN IN AUSTIN, GUIDE FOR TECH ENTREPRENEURS
I thought about starting this article with how hard it is to be an entrepreneur and somewhere at the end to give it a twist on how awesome it is and make it all rainbows and butterflies. But no, this is just an inspiration from my travels and collaborations with creative minds from around the world and hope it will serve you well.
About ten years ago, when the whole digital working revolution started with the whole “work from home” philosophy, the world of collaboration started changing so fast that many people took this challenge and turned it into opportunity. Now we see weird case of designer from Nigeria collaborating with APP developer from Romania building a product which Intellectual Property is registered in Netherlands and LLC registered in Boston. Just how cool is that? I know it looks awesome and it really is but it is also complicated and at times not fun at all.
You see the business of innovative solutions does not include services or products that are demanded by the market. What we do is giving direction of our focus on deep research, analysis, thinking outside the box, design, design, design and thousands of lines of code. After this we go to the market with something that will make people go crazy about and BOOM! Epic Fail.
Building something nobody knew they need it until they saw it, is hard and the failures that often accompany the whole process of innovation are really hard to recover from. But on the good side, the world needs you and it’s ready to support you.
This is the reason I decided to StartUp and go all in.
I started Inception Enterprises with a goal to bring new innovative tech solutions to the market and along the way bring in the best talents on board to help us with the mission. I’ve been running this business with my partners for four years now and even though it feels like 138 years ago, I’m still working hard with the same enthusiasm as in the beginning. I love every single second of it.
So before you dive into the big blue digital sea, here is a part of my experience which i hope will serve you well:
Research and Learn
Before you start your digital venture and build the next Uber for fitness or Amazon for hand crafted jewels, you need to learn and understand the content of it. Graduating from college is not it. By the time you graduate, the industry is already changed and your expertise and ideas are no longer needed. Once you have the educational basics you need to build a habit for daily research, testing and analyzing. This will give you a real time insights on what the market needs, what you should and can do. I mean basically you can do anything but through the research you get to understand your idea better. Build your own research papers, create market statistics and update them regularly, this is a great habit. Once you are done it’s time to put it on a paper.
Getting Ready for The Game
Once you understand what’s going on on the market it’s time to plan. What’s your product, how many people you need to build it, what type of people, when are the first money coming in, risks, cash flow and all of the stuff you hate. Once you have this piece of paper, create a one-page pitch of your product and even more- create a tweet, explain your idea in one sentence. If you like it ask people to tell you if they understand it and if they like it — viola! - it’s time to build it!
Round One
Ok so if you are a designer, a developer or just a random enthusiast with a great idea, you need to get people on board, get them excited, set them running up the hill and watch them fail. Here your goal is to design, build and brand, launch MVP or Demo. No sleeping till you are done. One of my best friends that I founded a company with in Sidney few years ago used to say: “done is better than perfect”, and this is so true. You don’t need to make it BMW, make it just a board with wheels and prove your concept. Once you have this, it’s time to start looking for help. Yeah you read that right, all of those long days of hard work and no sleep are worth nothing if you don’t get the help from mentors, investors, partners or whatever it is that will get you to the next stage and that’s the market. Remember you need to act fast.
Why do you need Help? Where? What? Who?
Now that you have the concept try to identify who can help you go to market, who can guide you, who can protect you and your idea and who can finance you. The tech world is very complex, competitive and expensive, you need to get all of the help you can. These are some of the places you can start looking for support:
- F6S: One of the best platforms to hire talents and get in touch with potential mentors, and apply for acceleration programs.
- Global Innovation Exchange: Great place for people looking to promote their ideas and get funding.
- SeedInvest: Platform for early stage startups. It’s important you have your plan and presentation right. [WEB]
- Symbid: Platform for connecting investors and entrepreneurs.
- Y Combinator: One of the most famous accelerators. They supported one of the biggest tech startups ever.
- Viva Technology: Open Innovation Platform with many challenges and startup events where you can pitch, compete and exhibit.
When applying on any of these platforms, make sure to improve your presentations as you go, paying close attention on the feedback you’ll be getting. Get your crew and shoot a short video. Most of the accelerators, investors and programs need to see you, your team and your product. No need for expensive productions — just make sure the script is nice (friendly for the viewers’ eye), with good sound and picture. Again check the web, see how other people are doing it.
Also I highly recommend you to go out and find mentors, not just for the sake of having a mentor but someone that will stick with you, guide you and help you through the process of building the business. This is crucial not just for your business but for you as a entrepreneur and leader.
Make sure you learn along the way, listen to your mentors, consultants and clients, keep an open mind but always follow your heart. Make decisions, it’s highly important you exercise this muscle, don’t be afraid to make mistakes, act fast and build forward.
I know it’s not a rocket science but from this few steps me and my business benefited a lot.
I am writing all this in order to help the newcomers in the entrepreneurship world, but also help the future YTILI fellows to find their way around US business and tech culture. This year I was selected to be part of the Young Transnational Innovation Leadership Initiative (YTILI) Fellowship Program and last year I was part of the Global Entrepreneurship Summit as a GES+ Delegate and this is because i worked hard to prove my self, nothing happens randomly. Few years ago this was just a far out thing but the hard work took me to San Francisco and Austin where I had the chance to meet some of the most inspiring people in the tech and the digital industry and now i’m setting shop i Austin. [You can read more about my GES 2016 experience HERE]
So as important as your idea and ability to execute is, one of the most important elements for your success is where you decide to build your business and with who. Remember the quote “surround yourself with likeminded people”? Well you need to do your research and find the best city to build your business and find partners that have different skillset but similar mindset, because no one ever achieved anything great alone.
So here is a quick guide for all of you entrepreneurs visiting Austin.
HELLO AUSTIN!
Austin is a great city, I was impressed how organized this city is. To be honest this city is one of the top five best places for startups. I’ve been around the world but at one point I felt like Austin people are the most welcoming and nicest people ever. Everyone is happy to help and they love visitors. There is a big shift towards Austin, there are many entrepreneurs and talents moving to this city and according to CNBC The Texas capital recently was named the #1 place in America to start a business. Compared to San Fran life is significantly less expensive. It seems like it’s the right place to start and build business, I’ve met so many talented people there, people that made me re-think my whole strategy so I’m looking forward to moving some of my business operations in ATX. While in Austin I had a chance to experience the city and get around. Here are few tips on Austin. Let me know if you find any City Hacks that I’ve missed because I will be going back soon.
Getting Around
I would suggest to use the bus lines. They are easy to learn and they take you almost everywhere. I stayed in Hyde Park so for me the best option was the bus plus it’s a cool way to meet people. You can always get Uber or Lyft but trust me, Austin culture is awesome, go around the corners, visit shops, famous streets and BARS :)
Must Do
1. Colorado River (or Lady Bird Lake), go kayaking ! It’s a must, there is also a very famous pool Barton Springs Pool.
2. The Texas State Capitol — completed in 1888, it was the seventh largest building in the world.
3. Live Concerts — Remember South by Southwest? Well Austin is all about live concerts and music, make sure you go to one, I had the chance to listen to the Punch Brothers, just the best live show ever !
4. And finally don’t even think about missing the famous Texas BBQ. There are plenty of great places- you can’t make a mistake.
OK — Back to Business!
So yeah have fun but don’t forget about your primary goals, and that’s to connect with as manny businesses as possible, and like minded entrepreneurs. Austin is full of them. You just need few tools and tricks and I’m sure you’ll make the best of your visit to Austin.
- Meetup: Get the app right now, Austin is full of tech events, I went to almost all of them.
- Shapr: This is a great new app that’s growing really fast but trust me you can meet great people here.
- Capital Factory: It’s a must, they have great co-working space and they host great events where you can meet lot of great people.
- Galvanize: Also another great location, check out their events, I’ve met really nice people there.
- Starbucks Coffee on the 6th and Congress Avenue: I know it’s weird but hey this is a place where you can take a break from all of the Texas Heat, get free wifi and meet some friendly faces for a casual chit-chat.
MeetUps you must checkout
- Video Game Makers Unite! — If you’re into video games development this is one of the best meetups ever. The people are super cool and I got the chance to meet the one and only mr.Warren Spector. This event is hosted at the Capital Factory.
- Refresh Austin — If you are a UX/UI specialist and if you are looking for talents and info and trying to connect with Austin designers I highly recommend this meetup. I had the chance to listen to Michelle Greer, one of the best marketing experts I’ve ever seen and Don Corbin, Senior Product Manager with great knowledge on product development.
- Austin Sales and Business Development — Great meetup, people with high insights on SaaS and people with great network in Austin. If you need to learn how to push your product to market and find people that can help you do it, this is the meetup for you.
- Also make sure you check meetups at Galvanize, they usually host great events and people. I had the chance to meet and listen to Mike Belsito on the subject of how to building your audience.
BEFORE US AND WASHINGTON DC.
YOU, you are one of the few people that got selected, use this opportunity wisely and be proactive — immediately. Print a lot of business cards, 100 is not enough, there’s only 50 YTILI Fellows in DC plus you will meet many people from German Marshall Fund and the U.S. Department of State. Remember that everyone is highly important. It is super smart to make sure you keep in touch with as many people as possible. In DC you will learn a lot about US culture, how to pitch, hustle and much more. GMF did a great job on bringing excellent trainers, the program is really effective. Take notes and get ready for the journey!
And for the very end few pictures from my US YTILI Experience.
Me and my bud Arthurs at the Capital Factory: PIC
Don’t forget to go kayaking when in Austin: PIC
Hanging out with the cool people from Black Hawk Digital Marketing: PIC
Chillin’ TX Style in Austin: PIC
So that’s about it, I’m in the process in setting shop in Austin because I fell in love with this city.
I wish you a good luck with your tech startup and I hereby send my best regards to the US Department of State, Grand Marshal Fund and all of the YTILI Fellows.
P.S. I’m launching Qpick, a mobile app that will change the way people shop, if you are interested in joining our beta test, or joining our team feel free to reach out.
See you soon Austin !
