I wouldn’t consider myself a start-up professional, why would I? I have launched two companies that are still very young and growing and yes I only just started work last week on my biggest start-up so far. Still, this doesn’t make me a ’startup pro’. I will define a start-up professional as someone who has been in the business for a long time (atleast 15 years as far as I am concerned), started several ventures, been on several boards, dined and wined with the notable names in start-up and a mentor! These are people who have “been there and done that”, they have a whole wealth of knowledge to share.
I have never met Martin Zwilling but I have been reading his blog for a while now and I would be lying if I said the man hasn’t inspired me and taught me a few things. I was able to tweet with him and then email with him. Fortunately, I succeeded in getting an interview out of him. The point of this blog when I started out was the help young entrepreneurs like myself see the light, share my mistakes with them, how I fixed them and the lessons I have learned in the process. But I don’t have all the answers, I can’t single handedly direct you to start-up success, hence my interviews with well rounded, successful entrepreneurs like Martin.
1.) Hi Martin, thanks again for doing this. I know you founded and run Startup professionals which is doing great supplying tips constantly to people in the start-up biz, have you been involved in any other start-ups?
MZ: Yes, I’ve held operational positions in several startups, including VP Development for software, SVP Web Applications in another, CIO in a manufacturing startup. I’m now on the board of a medical services start-up and on the Advisory board of five other start-ups in early stage (software, green services, alternative energy, consulting, jobs website).
2.) How would you describe your experience with starting companies?
MZ: Startups are always a huge learning experience for me, and even more so for founders trying it for the first time. It takes perseverance, adaptability, real hands-on work, and good problem solving skills. But the satisfaction of real progress and even small successes is tremendous.
3.) A lot of Gen Y guys are involved with most startups now, what is your take on this influx? is it a good thing in your opinion?
MZ: Definitely a good thing, due to their boundless energy and idealism. Yet I find many who haven’t learned to balance idealism and realism – everyone loves green, but most consumers won’t pay five times the price. Gen Y teamed with success boomers the first time around make a great balance, and provides credentials that investors love. The current recession is making Gen Y face business realities quickly, so it’s good for them in the long run.
4.) What is the most important lesson you’ve learned as a start-up guru?
MZ: I’ve learned that you can’t help everyone, especially people who won’t listen. Some people have such big egos, or are so naive that they believe they are bullet-proof. Rather than waste alot of their time and mine, I tell them early on that I can’t help them, if the chemistry isn’t right. I’ve found I can accomplish more by coaching five founders who are willing to listen thoughtfully, versus one who wants to argue every step of the way, and then does his own thing anyway.
5.) What would you say are the features or characteristics that a successful start-up usually have compared to those that fail?
MZ: Every advisor and investor will probably agree on this one, that the difference is the quality and experience of the team. When I get a business plan, I look at the executive credentials and experience first, before I look at the product and the opportunity. A bad team will usually fail even with a good product, whereas a good team can often make a bad product work.
6.) What is the most imporatant advice you can give a new entrepreneur starting out now?
MZ: I recommend that you team the first time out with someone who has “been there and done that.” That could be a co-founder, or atleast an advisor/mentor who has domain knowledge, connections to other executives, and potential investors.
7.) Finally, what is the most effective way to market/promote a new venture in your opinion? (In a case where there isn’t a lot of money to be spent)
MZ: Social networks, like Twitter and Facebook, are an invaluable new tool, and don’t cost much. Equally valuable for Internet business sites is doing the basics of Search Engine Optimization (SEO), then a bit of Search Engine Marketing (SEM). My informal assessment is that only about a quarter of the start-ups really use thses resources today.
Martin Zwilling is on twitter (@StartupPro)
