CEO Rune Sovndahl Advice On Launching Your Own Business – Entrepreneurial Spirit And Technology
Founder of the £28m domestic lifestyle app ‘GoFantastic’ Rune Sovndahl, shares his tips on spotting a gap in the industry and launching your own business.
I started Fantastic Services in 2009 after a chance meeting, at a party, with my business partner Anton Skarlatov who already had a cleaning business of a similar style.
At the time, I was working for Lastminute.com so I already had a digital mind-set so to speak.
But when Anton and I started discussing a potential business, we were able to instantly recognise a niche in the market of the domestic services industry.
For young entrepreneurs looking to start their own business or have just started the journey, I would suggest following the same five steps that I did seven years ago and still stand by today.
1. Building A Network Is Crucial
As mentioned above, when Anton and I met at a networking event, I advice that every conversation should be treated as a learning opportunity, and never underestimate anyone’s ability to enrich your knowledge or help you materialise new ideas.
Attending networking events allows you to speak with a number of companies. In order to get the most out of these events, you should always take notes, take business cards and show your passion in your approach to meeting new businesses.
Another way of furthering your experience is to research the event itself and the companies that are attending.
This way you can prepare any questions that you may have about the businesses, which will again illustrate your enthusiasm to others and overall make you a more attractive businessperson.
2. Befriend Technology
The way people perceive mobile technology has drastically changed over the past half a decade and it is now an integrated and fundamental part of a successful business, but this wasn’t the case in 2009 when we started trading.
Through observing these changes, it is clear that businesses need to be flexible and ready to take risks in order to keep up with environmental changes that will inevitably impact business regions.
The technology that you have access to within your company can be used throughout the business with all areas, thus enhancing the overall efficiency saving you both time and money.
3. Be Pragmatic
What drives us at Fantastic Services is delivering the best service possible for our customers and to do that we need to be efficient money-wise.
In this case, I need to emphasise the value of conducting in-depth research in order to maximise your understanding of the deals and partnerships you will be investing in.
You need to be confident before entering into any contract to prevent any loss and ultimately to improve quality, lower prices, and bring in more revenue by becoming more competitive.
4. Ensure That Your Staff Members Are Proactive
In the early days of a business it is vital that the company continues to run efficiently in its core areas in order to aid the potential for expansion.
However, when looking to appeal to a new market it is essential that you must not lose sight of your current customers and your loyalty to them.
With this in mind, ensure your employees are fully equipped with technology skills and knowledge so that they have greater opportunities to engage with customers more successfully.
5. Be The Best Person That You Can Be
I believe that businesses have a more complex purpose than making money. The financial status is important and represents the structure on which your business rests, but profit-driven organisations don’t contribute enough to local communities and our society.
To succeed in what you do, you need to be passionate about your business and be positive towards its potential, as it is this mentality that allows the best business-people to succeed.
Never take for granted any experiences that you encounter along the way, even if they are not typically business orientated. I truly believe that it is these situations, good or bad, which shapes your success.