Tim Åkesson - Servata Joule
timakesson96 [at] hotmail [dot] com (timakesson96[at]hotmail[dot]com)
Blog post #1
Describe the idea!
To create a more sustainable and effective way of consuming electricity. Our primary idea is to create an alternative power outlet to steer consumption, however we will focus on market demand this summer and might adapt our idea from it.
Who are you?
I’m currently studying my second year in Industrial engineering and management at BTH in Karlskrona. With a theoretical education in business I felt I would benefit from practical application as well. Therefore in early 2019 I chose to create Servata Joule with my colleagues, my second start-up start-up this far.
What will you do during these three months? How will you spend the time?
Our primary focus this summer will be to research the market demands. And how we should adapt our product to fit market segments.
When that is done it’s time to prototype. Hopefully we will have time for this to.
What do you expect to achieve during Leapfrogs?
I expect to learn a lot regarding market research, how to find what’s the right “it”.
I expect to have a clear vision of what specific product we will produce.
I expect to have a several customers ready to buy when we launch.
Blog post #2
Tell us what you have done on your project so far during the Leapfrogs time.
Our time has been spent creating and executing market research within the B2B and B2C area. In the start we focused a lot on personal meetings, however as time went by we shifted to forms due to discovered pin-point questions we needed answered. With the dead time between meetings and waiting for answers we decided to start developing the parts of the product which would need to be integrated sooner or later for any models.
Has everything gone according to the plan? Has anything unexpected occurred? Has something been easier/harder than expected?
No. As our emails towards companies was often met with responds like “vacation, could we meet up after the summer?” it was a lot harder to figure out what option for our product was the best, or if there even is a demand. And that is the reason we started developing the product, we couldn’t just sit and wait for answers, we truly believe this problem need to be brought up one way or another.
What will you focus on during the remaining time? Will you follow your original plan or has anything changed along the way?
Our original plan has shifted slightly. We’ve geared more towards product developing instead of doing research even though we’ve might not have gotten the quantitate conformation we aimed for. Nevertheless, we will still focus on market research and try to reach out to even more companies and people to answer questions. Now with the last weeks of leapfrog coming around we will focus on creating a more detailed tangible product to confirm our solution works and prepare for a faster market launch.
Want to know more? Follow the link below, and while you’re at it you might as well fill in the form!
Blog post #3
How did you experience the three months?
A truly learning experience. Problem-solving, self-discipline and an initiative taking attitude has over the summer contributed towards personal growth, and I think everyone should at some point try out creating a start-up just for the learning experience. And of course, it was a tremendously fun.
What has been most difficult and what has been most enjoyable?
The most difficult challenge we had was to realise that the product we had created was not a match for the market. But failing was also one of the most enjoyable part. Since getting to know the market and how people work it opened my eyes to their demands, and that’s something i will take with me to further projects.
Will you continue working on your project in the future? If so, what is your next step?
We did not find any significant demand for our product during the summer. I will therefore resign from the project and continue working on another idea.
What would you say is the most important lesson learnt while working on your project?
The Swedish business world enters hibernation during summer. Jokes aside being straight forward with people will help accelerate your business. For example, after a meeting, pitch or whatever ask the person of interest if they would buy it now, yes or no. If yes, great start working! If no, try something else. This is instead of just going and get a vague “sounds good”. Be honest what you want and don’t be afraid to show it.
Do you have any tips to other new entrepreneurs?
Don’t be afraid to ask for help, people are so helpful!