Nicholas Heny, CEO and co-founder of a sustainable clothing brand, shares tips on How To Start Your Own Business Without Investors
The first tip is to focus on implementation rather than the idea, citing examples like Facebook, Lyft, and Google, which started with not-so-great ideas but implemented them better.
The second tip is to not strive for perfection and do everything yourself, learning from mistakes and feedback to improve.
Heny shares personal examples of their first t-shirt size mishap, a DIY photoshoot, and a not-so-great Instagram post that still resulted in more engagement.
The third tip is to focus on the customer and their needs, rather than your own desires or assumptions.
The fourth tip is to be patient and persistent, as building a successful business takes time and effort.
Heny stresses the importance of staying true to your values and mission, and not compromising them for quick success or investor pressure.
He concludes by highlighting the benefits of building a business without investors, such as greater control and flexibility, and encourages aspiring entrepreneurs to take the leap and start their own business.
Nicholas Heny, CEO and co-founder of a sustainable clothing brand called AYA, shares his experience of building a business without investors. Heny emphasises that having a great idea is not necessary for success, but implementing an idea effectively is what matters. He cites examples of companies such as Facebook, Lyft, and Google that started with not-so-great ideas but improved them with better implementation. Heny also advises against striving for perfection, as it can be a hindrance for a startup with limited funds. He suggests starting small and making mistakes to learn from them. AYA’s first T-shirts were sourced from Asia, with sizes that were different from European ones, but the company learned from the feedback and improved. Similarly, AYA’s first photoshoot was done cheaply, using a borrowed camera and a $30 backdrop, but it allowed the company to start marketing its products. AYA’s early Instagram posts were not great, but the company’s higher posting frequency led to more engagement, likes, and comments. Heny concludes that a startup can succeed without investors if it focuses on the implementation and learns from its mistakes.
Bullet Summary:
– A great idea is not necessary for success; implementation matters more.
– Striving for perfection can be a hindrance for a startup with limited funds.
– Start small and make mistakes to learn from them.
– AYA improved its products and marketing by learning from feedback.
– Higher posting frequency led to more engagement, likes, and comments on AYA’s Instagram posts.
