My Journey into the Startup Industry: How I Began My Path in Business (Part 1)
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My Journey into the Startup Industry: How I Began My Path in Business (Part 1)
In an effort to create a comprehensive guide filled with valuable insights, I aim to share experiences and lessons learned—highlighting both the pitfalls to avoid and the strategies we employed. Back in 2020, the idea of launching a startup project took root in my mind. Here’s how it all began.
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The Turning Point of 2020
The year 2020 was undoubtedly challenging. The world underwent a significant transformation as businesses worldwide had to rapidly adapt to new processes within a short timeframe. The shift to remote work became inevitable, compelling companies to rethink their operations and embrace virtual collaboration.
Personally, I believe humans are inherently social beings, making this transition particularly tough. Relationships strained, people experienced panic attacks (I had my first one), and everyday interactions changed drastically. Even familial bonds felt different. I recall meeting my father in June 2020 without the usual embrace, opting instead for a safe distance to minimize risks.
Amidst these changes, I noticed remarkable personal growth. Limited external information—reduced street interactions, fewer billboards and advertisements, and minimal background noise—clarified my thinking. With fewer distractions, I began focusing on activities I’d previously postponed: listening to thought leaders, attending virtual conferences, reading extensively, quitting smoking, and learning to cook—all of which were appreciated by my family and friends.
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Venturing into the Startup World
At that time, I had been out of my role as a Product Owner for about 5-6 months. In my previous position, I worked on promoting a quantum cryptorouter and a quantum random number generator. Maintaining relationships with former colleagues, an idea emerged: Why not develop a secure communication app tailored for B2B companies? A venture into creating a business-focused messenger akin to WhatsApp or Telegram, but with enhanced security features like quantum encryption and blockchain integration.
We envisioned Co-Founder Ai as a startup engine that would revolutionize how businesses communicate securely. Initially, we targeted the German market and connected with Holger, one of Booking.com’s founders. His guidance was invaluable, shedding light on the intricacies of conducting business in Germany. However, despite a well-thought-out plan and feature set, the project didn’t advance to the Minimum Viable Product (MVP) stage. I’ll delve into the reasons behind this in a future post.
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Shifting Focus to Cybersecurity
Having moved on from the initial startup idea, I redirected my focus towards the business development side of cybersecurity. Working as a Business Development Director in a company specializing in cyber solutions, I was part of a newly forming department. Together with my assistant, who had a background in information security, we conducted hundreds of interviews to fill various vacancies.
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Lessons in Recruitment
One key realization from interviewing over 300 candidates was the common deficiency in self-presentation skills. Most candidates mechanically recited their resumes without genuinely showcasing their achievements or passion. Additionally, many were indifferent about the roles they applied for, driven primarily by financial needs or external pressures rather than genuine interest. Family issues were often cited as reasons for past shortcomings, diverting focus from professional growth.
This highlighted a significant gap: people struggle to effectively present themselves, a crucial skill for any startup looking to attract top talent and secure investment from angel investors or venture capital firms.
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Ideation: Empowering Individuals to Showcase Their Potential
By the end of December, I was contemplating ways to help individuals better present themselves, discover their passions, and find the initial spark to take action. This led to an innovative idea: creating courses developed by industry professionals—essentially, a senior mentor guiding newcomers through the foundational aspects required for employment in their desired fields.
I outlined the basic metrics supporting this concept and decided to pause before diving into another startup endeavor. Taking a step back, I conducted customer development research using Google Forms, engaging with 100 individuals across various sectors, ages, and genders. Conversations with education and recruiting professionals from Canada, the USA, and Singapore validated the demand for a solution addressing these challenges.
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Building the Team for Co-Founder Ai
Within a month, our venture capital-backed startup began to take shape. Networking through acquaintances, we connected with an enthusiastic architect passionate about his work. After presenting all the research and feedback we had gathered, he agreed to join us in bringing Co-Founder Ai to life.
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Looking Ahead
In the next part of this series, I’ll explore the specific challenges and solutions we encountered as we moved forward with Co-Founder Ai. From navigating the complexities of securing funding through private equity firms to refining our product features to meet market demands, the journey has been both challenging and rewarding.
Stay tuned to learn more about our path in the startup ecosystem, leveraging insights from venture capital companies and angel investors to shape a product that truly addresses the needs of modern businesses.