Every week we take half an hour to talk just about any topic that crossed our minds during the last days and create a podcast for you (Listen to it in Spanish here and subscribe to our feed). We call it an Open Mic Podcast as we want to invite different people to participate, new ideas to take form and to shed light on various experiences and perspectives on business development.

Photo: Jonathan Velasquez

You will hear Bernat, CEO at itnig, César, Product Director at Factorial and Masumi, Content Media Strategist at itnig discussing different topics with guests from our startup ecosystem in Barcelona. This week Roger, Product Manager at Quipu and Jordi, Growth Hacker at Factorial join us.

Our podcast #14 starts with an inspiration: Cesar was listening to a talk of the founders of the Segment — a customer data platform — and how they started out with a completely different product and only later created what is now known as Segment.

“In the process of creating one product, the need for another product was born.”

Similar to Segment, Quipu was born out of the need to manage the administration for different projects. What first started out as a personal need was then transformed into a business (now known as Quipu) by Roger. In this week’s podcast we want to focus on exactly this: How to start a business from scratch.

How to bring a new product to market with a 0€ budget?

Jordi has experienced this very initial stage of every company many times and today he joins us to talk about how to reach customers with a new product and how to create the first traction with a marketing budget of 0€. Throughout the podcast we explore initial SEO strategies, influencer marketing, offline customer acquisition and crowdfunding as possible options to generate the first sales.

Influencer Marketing

Getting somebody to endorse your product, to present it and to vow for it in front of your target audience. Do you remember the craze around fidget spinners earlier in the spring of this year? It’s the perfect example of a product that went viral through youtube videos, social media shares and word of mouth. As far as we were able to find out, ‘nobody’ was behind it pushing the toy out in the world, yet it is a great inspiration for marketing departments of any physical product. Who wouldn’t want their product to sell itself and create such a hype?

Offline customer acquisition

Go out and meet possible customers. In the case of Quipu, Roger went to talk to small companies, individual freelancers or even accountants to better understand how they work and what they are dreaming of. Similarly to developing a MVP at the initial stage, going out to approach customers directly was an enriching experience and an important step in the growth of Quipu.

In the beginning of Camaloon, an e-Commerce for custom products, we tried different ways of acquiring customers from participating at events like Design Conferences or Comic Conventions in Spain and Italy, sponsoring artist groups or even being part of flash mobs. Looking back, now we laugh about those actions but at the time they were a good way of reaching a niche audience and getting first traction.

Crowdfunding

If you are developing a physical product, crowdfunding can be a smart way to receive funding and your first customers. It’s a way to market your product to a very specific audience and tap into the potential of established platforms and networks like Kickstarter and Indiegogo.

You reach your first customers and you have the opportunity to establish a special bond with them, when your company grows.

Marketplaces & other eCommerces

With a physical product one of the more traditional ways of placing it in front of possible customers is using existing structures like other e-commerce stores or marketplaces. These could be self-service like Amazon or even more selected marketplaces that feature and sell your product for you.

No matter how you start out, Jordi cannot say enough how important measurement is:

“Measure from the start. Even though at the beginning you might be measuring very low numbers, you still need to know whether you are going in the right direction.”

If you are curious to find out more and listen to some of our examples, subscribe to our channel here and listen to the Podcast #14 right now.

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W.

WeWork running out of cash & Faraday on bankruptcy

This is the Newsletter shared on the 21st of October. If you wish to receive newsletter faster, you can subscribe here: https://itnig.net/newsletter ​​

Hi entrepreneur,


After raising €25M, Bnext is opening a new… crowdfunding round! The neobank is quickly growing like many other fintech startups. Don’t lose count and check out the European unicorn landscape.

On the other side of the spectrum, the once-claimed Tesla competitor Faraday files for bankruptcy. Other manufacturers are racing to capture the growing electric vehicle opportunity.

Of course, WeWork also had its show time this week as we got to know that it might run out of cash by mid-November. Oh, and totally unrelated, if you are thinking of changing offices, check out our options available at Itnig😜

– Itnig’s team

Podcast #111: How to boost your startup growth with Glovo and Ulabox

In this week’s podcast, Glovo and Ulabox are two companies having a business model based on a big number of operations. On the one hand, Ulabox is an online supermarket that stocks and ships items everywhere in Spain while Glovo is an on-demand courier service.

In this episode Eduard Cabanas (CFO at Ulabox) and Eduard Ros (CFO at Glovo) answer topics like how to get your company ready to rapidly grow and which metrics to pay close attention to keep on the right path.

This week’s podcast is brought to you by Factorial, the HR software that does all the heavy work for you. Start now managing your company with advance reports, time & attendance signing and muc more!

New funding for startups