All inclusive portal for and about startups, investors & business in Malta

A life line of a project : from conception to sale. Ideas and hints from Nikolai Livori.

Nikolai Livori – serial entrepreneur from Gaming Industry, who has successfully created and sold several ventures, shared his story and gave some hints for startups during Malta Startup Community event.

A life line of a project : from conception to sale.

1. Come up with an idea.

Find your passion and try to find a niche market for it. Ideas some times are very cheap, you should understand whether yours is viable to become a company.

Hint: See where major player is failing and target that niche market. If you are good and lucky – your exit would be acquisition by that company.

There are two types of ideas/ ways:

  • improve something that is already out there;
  • create something innovative.

The second way is very tough, cause market is not there – it’s hard to find partners, investors, customers – they don’t understand what your product/idea is. And to make it worth, even you don’t know what should be your business model.

Hint on how to deal with that problem: frame it, wrap it, partner with someone, engage in a big marketing campaign. Test the market – create “fake” brand, or even “fake company” to test a market, e.g. run a FB campaign and see interest, feedback, results. A/B test.

2. Analyse your market.

Do your home work. Google hard and then google harder!

3. Do your Financials.

By the end of the day whatever your idea is – the goal is to make money. Just agree with that and accept that 🙂

Do your financials, when you start applying for significant investment. Investors WILL make due diligence of your assumptions and asses your financial forecasts.

That’s something useful not only for investors, but for yourself as well.

A thought: don’t take more then you can/need, cause you’ll have to triple it in 3 years. You have to know what sum of money you need.

4. Search for the  right partners.

They give you credibility. Both people and companies.

Warning: If you partner with wrong people- you’ll spent a lot of time trying to get rid of them.

5. Incorporate and have contracts in place.

That will save you from a lot of pain in the future. Do it well from the start – select company’s structure, tax regimes etc. Have a good accountant and auditor.

6. Have an Exit strategy in mind.

You have 3 options:

  • grow as much as you can & delay exit
  • go on stock exchange
  • get acquired

Advice: study competition, make your company attractive to a potential buyer. You can’t expect someone to come out of the blue, know whom you are targeting.

Closing notes:

  • Teach your IT people business. There is always a clash between CTO and tech team on one side and CEO and business developers on the other – your team should be on the one page.
  • Entrepreneurship is more than full time job. Take care of your head and body.
  • Know the power of saying NO.
  • Before you choose an industry, think how it will affect you- that’s smth that will put a mark on your life.
  • Bring Gamification into your internal processes.

Home work for start-ups from Nikolai Livori

***

Read also Tips from Deborah Webster on How to attract a Top talent.

Join Startup Community in Malta and get a chance to talk, ask questions and get as much as you can from experienced entrepreneurs, investors, startupers and industry professionals.

Similar posts
  • A call for Digital Identity Management solution – the winner gets 500,000 euro A huge international challenge for entrepreneurs and startups will be launched from Malta this Tuesday, April 4th. Hosted at the Malta Stock Exchange, the event will also be the perfect place for startups and entrepreneurs to meet big businesses looking to invest in cool innovations and clever ideas. Calling itself the Build A Country Challenge, the international call [...]
  • “Country as a startup”, CIO of Estonian e-Government – Taavi Kotka in Malta or… What might happen when you give freedom for a crazy software engineer to run Government IT. Sometimes, being a small country is a huge advantage – it is much easier to implement and enforce new laws, systems, services and make life of citizens much more convenient.  Estonia has shown that on its own example and [...]
  • Silicon Valletta – Club for CEOs and Founders of Digital Startups in Malta Silicon Valletta – is a Club for CEOs of Digital companies and Startup founders in Malta, its aim is to fill in the gap in the startup ecosystem in Malta – to act as an entity to speak with government and authorities and promote Malta abroad. During  ZEST – the biggest digital conference in Malta, Silicon Valletta [...]
  • Concept and Early-stage Startups in Malta (video) Gadgets show, together with MCA and Takeoff have created a set of short interviews and videos of concept and early-stage startups in Malta @ZestMalta2016 Scheduit – networking app with machine learning capabilities. Link: https://beta.scheduit.com Bum a Lift – car pooling startup in Malta Link: https://www.bumalift.com Headstart – is transforming primary school education with HiTech   Freshly IO [...]
  • Artificial Intelligence and Machine Learning – Startup’s Use Cases In the world obsessed with collecting data – we turn to Artificial Intelligence to make sense of it. In the world obsessed with connectivity – we create networks even for things.  What would happen if we combine both and create an intelligent network of things? If you are a Sci Fi fan, such as Dr. Abdalla [...]

No Comments Yet

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.