It was an interesting evening, which touched on a whole range of topics. One of the most interesting things was the candid way Roberta spoke about the failure of WonderLuk – a 3D printing on-demand fashion brand.
Some of the main takeaways from the evening?
- Entrepreneurship is a learning process.
- If you’re looking to get funding, try the tool ‘Founder Suite’ – it’s a great way to keep track of where everyone is in the approach stage.
- When it comes to funding, you’re likely to approach 1000 people, to perhaps meet 100, to get 5 good meetings, and maybe 1 investor.
- Hire well – be picky about who you work with. Hire slow, and fire fast!
- Don’t hire ‘mini-mes’. Aim for diversity – otherwise you won’t be challenged! If you hire a less-experienced version of yourself, you’ll spend your entire time managing them, and lose efficiency. Find people who compliment your skills.
- If you’re running a start-up, you need to hire people who want to work in a start-up. If they place importance on security and work/life balance, they are unlikely to appreciate the start-up culture.
- Be mindful of your own creativity. Write down 50 ideas, but then prioritise. Which three things do you need to do to make the business succeed? Have a laser focus. Get those 3 things right first, then move on to the next tasks.
- Roberta Lucca blocks out Mondays and Fridays for external meetings, and then devotes Tuesday to Thursday each week for internal work, to make sure she isn’t distracted.
- Regardless of whether a project fails or succeeds, Roberta always does a post-mortem. She asks herself how she thinks she did. What went wrong? What would she do differently? And then she applies these learnings to the next project.
- You have to love the entrepreneurial process. If you’re not enjoying it 51% of the time, then this probably isn’t the right career for you. Understand the parts of the company which you enjoy the most, and then outsource / hire for the parts you don’t enjoy!