New York Module 1st week blog

Monday, 18th of May.

We have listened to Ziv Navoth’s presentation about being an entrepreneur, creating a start-up in general. He himself is an entrepreneur, growing and leading to acquisition among other ventures Bebo by AOL and being responsible for its further marketing. Currently he is working at his co-founded start-up company, Paragraph. He gave us quite a few insights about how the internet how creating a start-up, being an entrepreneur changed in recent years. He emphasizes the importance of testing our ideas, trying to collect feedback from our early customers, trying to crowd-fund our ideas before committing ourselves to one or another venture. He advises to first listen to what people might buy and to make the actual product only afterwards, once the demand is confirmed.

He highlighted certain phenomenons, that cause the success of extremely fast growing companies like Uber or Airbnb. They use already available resources much more efficiently, using data, using analytics, using knowledge. I was amazed about Ubereats, the service of Uber, that promises food delivery in minutes. I wasn’t much familiar with Ubers services in general, but understanding, that the algorithms from the traffic data can be used to calculate demand, combining the already available resources with the people, who need them is fascinating. Ubereats is even more mind-blowing, given, that uber cars,  drivers are able to circulate food and deliver them within minutes after the orders were placed. I really liked his point about connecting people at a telephone center. Sooner or later we might have an Uber for everything.

About his advices for entrepreneurs, the one I think everybody must treat as priority is to try building something, that people want. This seems to be very simple, but when people (individuals) want to believe in an idea, they can be deceived very easily by their own pride, self-confidence. If you do something, it should be done for your customer, not for you. This is the hardest thing to learn in my opinion.

 

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