Rafael, CEO and Co-Founder of Ansquick, is one of the few people who got accepted at the Founder Institute in Barcelona/Spain. With this blog post he is sharing his experiences during the last month there.
What is the Founder Institute?
The Founder Institute is the World’s Largest Startup Accelerator; with a mission to “Globalize Silicon Valley” and help founders build enduring technology companies.
Why and how I got there?
I decided to present Ansquick to the Founder Institute in order to have the chance to learn from successful people how to start a technology company and to take the project to the next level with the knowledge I get there.
To join the program you need to present a psychological and aptitude test. Candidates are coming from all over the world to apply at the Founder Institute, but only few people get accepted.
What I have learned so far?
I have always been a guy that is completely open to share knowledge and exchange information in order to generate new ideas and business opportunities. So I am always feeling very comfortable to share thoughts, insights and wisdom. With this blog post I take the chance to provide you with additional information apart from the various tips you get all over the Internet. So I am exposing the most important advises which you should always remember if you are planning to start your own company or you are already having one.
1. Starting an own company is tough
Think twice if you are really willing to do anything for your ambitions before getting started! Creating a startup is, frankly speaking, no as romantic as it may seem. Before starting a project, take your time and think if you are willing to change your lifestyle, face uncertainties everyday, sleep fewer etc. For certain kinds of people it is actually better to work for a company (which is a respectable decision as well, of course).
2. Learn to listen to criticism, but do not let it take you down
Be open to hear that your idea does not work, that you might consider to do some changes. Do not take criticism as something personal; take all the knowledge from the feedback to improve your company.
3. Be humble and curious
One of the worst thinks that entrepreneur can do is to be pretentious and egocentric, this is like condemning your project to fail. Smile and show a positive and friendly attitude.
4. The idea is 10% – execution 90%
Stop talking and selling your idea, start to work to become it alive. If you are not a programmer there are tools and possibilities, buy a domain, open a blog, create a landing page and collect some leads. If you are not capable to execute, you are not going to be able to make your idea and dreams come true.
5. Create something that you would use
If you are working on a project that will not provide a solution and you would not use it, maybe you are in the wrong way. You really need to feel passion for what you do, and most importantly the solution of your product must solve a current problem.
6. There are always competitors
If you say that your project does not have competitors and that it is “unique” you must by lying or you did not do your homework like researching the market. Identify your competitors and establish some different innovative features that differentiate your company from them, and make sure to find out what things you can to better than your competitors.
If you do not know how to do something, look for help. Make deals, exchanges, look for partners and most importantly: BE CREATIVE!
I am lucky to be one of the 5 last members, since we were 18 at the beginning and more than 80 presented the admission test. Of course I am going to do my best until the program is over and of course I will be sharing with all of you the upcoming experiences and things that I consider useful to learn.
Please contact me via Twitter with the hashtag #rafa if you have any questions: www.twitter.com/ansquick_es
Find out more about the Founder Institute here: www.fi.co