Main take aways from #TechBBQ 2013

Morten Lund: Danish entrepreneurs need to be more aggressive, growth hungry, profit oriented, have more stamina and be willing to continue in spite of set-backs.

Rushfiles by Martin Haslund Johansson: Just build something! It’s good for your own process and for funding.

Vivino by Heini Zachariassen: Execution is much more important than ideas! There are lots of ideas out there, but it’s the execution that matters. It’s the case of the Columbus egg for all the pioneers out there.

Queue-it by Camilla Ley Valentin: The team is much more important than the idea!

AutoUncle by Johan Frederik Schjødt: Test instead of think -otherwise you’ll suffer the paralysis of analysis!

Thomas Madsen-Mygdal: When you are on a trip it’s all about finding the others. A startup is the biggest trip –you are going in over your head. You have to find the customers, the team, the right money etc. to join the trip!

Sitecore by Lars Fløe Nielsen: Hire People that are better than yourself rather than the other Way around to Secure control!

Momondo by Thorvald Stigsen: The more well defined and specialized you are the bigger you’ll be on the internet. Find your fetisch –the rebel sell!

Trustpilot by Peter Holten Muhlmann: Trust is the currency of the future! Share your ideas. Chances are that you will benefit from it rather being the one in a thousand whose idea gets stolen.

Zendesk by Mikkel Svane: With continuing globalization and the new ‘subscription economy’ trust is the new black. You need to secure loyalty and relations over time rather than chasing short term sales.

When asked, the Danish startups described their biggest startup mistakes as:

·         Spending too much time on non-startup related stuff…

·         Not focusing sufficiently on key stakeholders.

·         Spending too much time on product development.

·         Being too focused on not making any mistakes.

Important aspects of building their business were identified as:

·         Rather few very competent people involved than many less competent.

·         Invest money on hiring the right people even if they are expensive. It’s well worth it!

·         Invest in aid for recruiting the right people. Chances are that they are not in your immediate  network.

·         The most important currency: The ability to create meaning for your employees and customers.

·         Test your team and get writ of those who are not contributing sufficiently –no one benefits from keeping them.