This article is written by Clinton James, a Contributor Author at Startup Istanbul.
With the best engineers on the market in Romania, the Philipp Kandal team convinced the staff that they could do their job much better because they were the best company on the market. People forget that employees have the same brain as their competitors. Secondly, working in an outsourcing company is usually complicated because you don’t see the picture. Thirdly, we are gradually getting into a flat world with access to knowledge, tools, and resources, so you don’t have to be in a place like Silicon Valley to build a multibillion-dollar business. Unlike in the past, money is now available, especially for initial funds.
Look at your local role model and stop comparing yourself with international role models like Facebook founder Mark Zuckerberg. Instead, see how they grow on the market, who they are, and what they are now. They are trained to understand how the market works and learn how this business works.
The two most important rules that prove strong are that you need to build an income-based business so that no one can accept it. For example, if Philipp sold his business, the founders still hold 75% and doing very well. Secondly, examine the weaknesses of market companies in the region, specifically costs, profitability and lack of talent, and then build your own sustainable businesses strategy.
He presented this title at Istanbul Startup. After burning 2 million euros and causing the company’s bankruptcy, he explained why a thorough business review must be made when setting up a startup company.
First he went to Silicon Valley with high-ranking German officials, including the Minister of Economic Affairs, met with big German business people, venture capitalists and accelerators and asked why and how good companies like Silicon Valley’s could be seen and created.
How can we beat them in our game or better? If you are an entrepreneur, it’s about how much you like your system, work hard, change it yourself, or look for other things you can do. Understand the best ways to reap the benefits, and don’t think of flaws, even though you need to be aware of them. Focus on them and focus on the extraordinary advantages you have. For example, what is needed to hire someone directly from a university or college? Maybe it’s cheaper, but what’s the best value to it?
In most cases, competition can be misinterpreted because some of your competitors don’t make sense and block your eyes not to recognize potential businesses in your area. So, think carefully about what should be the best and most successful start in your area, taking into account the most important aspects, such as, the brightest and most successful minds that can be translated to ten times more competitive than them.
Building a global presence, such as a Turkish company that claims to be a US company, depending on the market. You can start a $ 1 billion business near you anytime. You just have to think big and network.