Marcus Wuttke - Webbdatabas
Marcus Wuttke - Webbdatabas #1
Describe the idea:
My idea is to help small and medium sized corporations to store and use data in a more effective way. Unlike large corporation’s small businesses often have a lot of their information in Excel, different emails or even on physical documents. Webbdatabas provides a solution which allows small businesses to avoid IT-consultants, complicated software and cost going through the roof. With Webbdatabas you get a customized and easy-to-use database accessible through your internet-browser for a monthly subscription.
Who are you? Previous education/jobs/ experiences etc.
I’m currently studying industrial engineering and management and just finished my third year. I have always been interested in entrepreneurship and have been a part of entrepreneurship committee at guild of industrial engineering and management for 2,5 years. I have been lucky to get to know my former room-mate Lewis Horne, founder of Uniti Sweden, who has taught me a lot about how to start and run a successful business.
What will you do during these three months? How will you spend the time?
Right now, I have a first version of the product and have gotten a proof of concept with my first couple of costumers. During the summer I will be focusing on two things: During June and August I will be focusing on contacting more potential customers and try to build a solid customer base. During July when a lot of corporations are closed for holidays I will be focusing on further developing Webbdatabas and creating more modules and functionalities.
What do you expect to achieve during Leapfrogs?
I expect to have acquired more customers and have a solid customer base. I hope that during this process I will also get a lot of feedback which will help me to better understand the demands of my market. I also expect Webbdatabas product to have at least three new modules and new functionalities.
Tell us what you have done on your projects so far during the Leapfrogs time:
So far, I have been contacting new potential customers, serving existing customers and further developed Webbdatabas functionalities. For new potential customers the work has mainly consisted of mailing, calling, and setting up meetings for me to show and pitch my product. Existing customers have received customizations to make the product perfectly meet their needs. New modules have been developed and more will be finished and available for customers at the end of the summer.
Has everything gone according to the plan? Has anything unexpected occurred? Has something been easier/harder than expected?
For me everything has gone pretty much according to plan. The first part of the summer has been dedicated to contacting more customers and as I’m writing this in July I’m currently working on producing more modules and functionalities. It has been a little bit harder than expected to find and reach the right person at each company, especially in the weeks leading up to the summer vacation.
What will you focus on during the remaining time? Will you follow your original plan or has anything changed along the way?
Right now, I will continue to develop the product during July. In August I will continue to contact more potential customers and see what my market and my existing customers think of the new modules and functionalities I have developed during the summer. I also have a couple of scheduled meetings with a few different companies in August that hopefully will lead to more customers.
How did you experience the three months?
This experience has been very inspirational and educating for me personally. To be able to work full time for 3 months on my project has been a fantastic opportunity and has taken Webbdatabas to a whole new level. I have learned a lot about how to create a profitable business, acquire customers and really what it’s like being an entrepreneur.
What has been hardest/most enjoyable?
Hardest: Get a hold of the right people and finding time in their busy schedule to show them a demo version. This has been especially hard during summer when a lot of people have been on vacation or taken days off.
Most enjoyable: When you are able to deliver at finished product to the costumer that will help them in their daily business. And even more so when you get positive feedback from your existing customers.
Did it go as expected? Will you continue working on your project in the future?
Absolutely, we have a product that’s better than ever before combined with more costumers and potential customers. The feedback from our existing customers has been great and that has pushed us even further to deliver excellent customer service. Webbdatabas has gone from a small start-up to a profitable business that a lot of people use in their daily business.
What would you say is the most important lesson learnt while working on your project?
That you always have to adapt to the needs of your customer. You can have a great product, but for that specific customer they need changes or different structures. I also think I underestimated the time and effort you have to put in into every potential customer to be able to get your message or offer across.
Do you have any tips to other ”new” entrepreneurs?
I would say that it is important to focus on the right things like contacting potential customers and trying to sell instead of being too fixated on small things. I also want to say that you always have to believe in your product no matter what, you can’t give up just because you have gotten a couple of no’s from potential customers. You are not going to be able to close every prospect, and every time you get a “no” you are one step closer to a “yes”, and hopefully you have learned something in the process that can help you improve your pitch or presentation.