This article is written by Clinton James, a Contributor Author at Startup Turkey.
Robert Cudrey, head of the Turkish GOPA team, congratulates Startup Turkey events as he inaugurates Mr. Yunus Emre Guzer, founder and CEO of PayU. In their discussion, they found several facts that they believed business are going through as they develop.
Emre started his career 16 years ago in a bank and is still there. He has had the opportunity to manage their ecommerce platform for the ecosystem when the market was not so saturated. They became one of the first fintech companies to trade in 13 years and penetrate the market. The approach implies that launching technology can produce ecosystems that are used from scratch by building value-added services for e-commerce players and online buyers.
In fact, the market will continue to grow. When you launch the first product on the market, there are many high hopes. If you ask, the market is actually very difficult because you teach everyone about it. When you have spent almost a year on the bus, you’ll have built interested users, it is in millions, it’s a great opportunity for you to grow and the start of doing things is the hidden key.
You need to start treating yourself as a local company with only one price agreement that must be maintained for local businesses. This is one reason why companies like Uber and Facebook succeed and can be rolled out in other countries. You need partners to establish the company with a marketing strategy routing to your region.
If there are many sister companies, one of them might be one of the most profitable investment companies in the world. For example, PayU still holds a 35% stake in several companies that they supported, yet they have only invested $ 30 million in 16 years. This is one of the best investments if you have a company that generates income.
Companies can have networks that can be built from scratch. If you have enough money and big companies like Naspers, you can take the opportunity to invest with them, translate it through daily plans or other steps that will expand your business. Let them invest in you to develop. There are things that you can offer them that will actually be an alternative to holding their money, making them strategic partners and then explaining your business for support instead of money. However, if you have a strategy mindset of holding their money better, of course you can expand your business. Millions, billions and trillions may come out, but there is always a need to be more focused.
There’s need to start finishing and stop starting. A good mentor in the stages is critical to have, they offer something to listen. In his view, you first start with foreign money, spend other people’s money, make mistakes, and learn from it. You also need to focus on what your competitors can do. It’s hard to find competitors who sell their weaknesses, they are always sold with that strength.
If you do business, it’s a good idea to have a problem that you solve, not a solution that will find customers who can turn you off.