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Erik Sundqvist - Startup Deal

www.startupdeal.io

 

erik

 


Erik Sundqvist - Startup Deal  #1

 

Describe yourself and your project. How did you get the idea? 

The project was born when Cathrin and I discussed challenges founders face when developing their startups. Her experience, from business development, was that startups spends a lot of time on attracting capital, at the expense of working and developing their ideas organically. We thought that there must be a more efficient way. So, we came up with Startup Deal – contracts for entrepreneurs who wants to get things done, and grow with the help of others!

 

Who are you? Previous education/jobs/ experiences etc.

My name is Erik and I study Business Administration at Lunds University. My background is ranging from firefighting to air traffic control. Previously, I have also been working together with others in a couple of startups, and have won first prize in Venture Cup North with the startup Godbruk back in 2013.

 

What will you do during these three months? How will you spend the time? 

I will work full time with the project and try to use my time as efficient as possible. My teammate and I will both focus on getting as far as we can with our company before this summer ends. Our different specialities will probably result in me focusing more on the technical and financial areas of the project, and Cathrin in running the business development and sales.

 

What do you expect to achieve during Leapfrogs?

My main goal is getting Startup Deal up and running, or at least close to it. In order to achieve this, we will need to develop and beta test the service on potential customers. Our goal is to launch our service on a digital platform from the very start, and therefore I need to work on that as well.  


Erik Sundqvist - Startup Deal  #2

 

Tell us what you have done on your project so far during the Leapfrogs time. 

So far, we have been focusing on developing the contracts in order to start selling. We got valuable law advice from our new team member Oliver. AWA Patent met us recently, and we discussed the possibilities to protect our service.

A budget has also been established and the formalities about starting a company have been looked over. Another important milestone is that we have set a pricing model, especially since we have waiting customers. Right now we are also developing the structure and design for our web content.

 

Has everything gone according to the plan? Has anything unexpected occurred? Has something been easier/harder than expected?

We are happy that our work have been very smooth and many times gone faster than we expected, and the fact that we already have several customers. The only hard thing is of course the fact that it’s summer, and a lot of things competes with one's attention ;)

The fact that we have started looking for alternative names for our startup came as a surprise, because we thought this was a closed matter. But we are happy that these things get sorted out now to avoid any future concerns.

 

What will you focus on during the remaining time? Will you follow your original plan or has anything changed along the way? 

Our primary focus is now to beta test our contracts with a few of our initial customers. We believe their needs and feedback will be crucial for our success, and a way for us to tweak our current contracts to provide as much value as possible. After this it feels natural for us to start selling our contracts to our chosen target group, which also was the original plan from the start. We will also focus on finishing our website so that we can begin selling our contracts through it. 


Erik Sundqvist - Startup Deal  #3

 

How did you experience the three months?

It has truly been an awesome experience, and the opportunity to focus completely on my own project has been like a dream. The support and feedback from LU Innovation and the other Leapfrogers have been extremely valuable, and something I will also have use of in the future. To sum up, I can’t imagine any better summer occupation than the Leapfrogs scholarship.

 

What has been hardest/most enjoyable?

The most challenging aspect for me is the fact that I had to plan and manage my time and schedule alone, and make all necessary priorities and arrangements to get as much as possible done. This has also been the most enjoyable and rewarding aspect, something that will definitely be of much use for me in the future. Another great thing is all the new friends I have met and worked with during the fun and exciting workshops this summer.

 

Did it go as expected? Will you continue working on your project in the future?

Most of the things I planned on doing with my project during these months have been done. I will continue working forward with the project when I go back to school next week. Me and my partner will do our best to structure our days so that we can move forward with the project and hopefully launch our service soon.

 

What would you say is the most important lesson learnt while working on your project?

Apart from running my own project, the most important lesson I have learned is that some things take a lot more time than others. And it’s not necessarily the things you initially believe will take the longest time that eventually are the most time consuming. It is important to have an idea of what you are going to focus on, but don’t be afraid of unexpected changes in your original plan.

 

Do you have any tips to other ”new” entrepreneurs?

I believe that the hardest part in being an entrepreneur is that you are you’re own critic. My personal advice is that you shouldn’t be to hard on yourself. The ability to learn from your mistakes but also give yourself credit for your effort and hard work, is important when you go your own way.

Leapfrogs Working Group
LU Innovation, Sölvegatan 16
Box 117, 221 00 Lund

info [at] leapfrogs [dot] se