The April Dubai Tech Nights event took place on Friday, April 12, 2013 at Thuryah Hall in Dubai Internet City. The topic was all about Startups. Two entrepreneurs spoke about their wild adventures as Startups in in the MENA region.
Saeid Hejazi, co-founder of Wally App, kicked things off. He started by explaining what the app is. Wally is a personal finance app. It’s claim to fame is “personal finance made easy“. Hejazi explained that the founders set clear goals in the beginning to help make their startup successful. They knew in the beginning that they did not want to create another ordinary social app. The goals for Wally were to allow users to get in and out of the app fast, input less data due to geo tagging APIs and monitor their expenditures on social events.
The team also established that Wally would be measured by the number of events created as opposed to how long users can apply online and are recorded as being in the app.
According to Bridgpayday Title loans, many of these loans are considered installment since the payments to the lender are scheduled in equal amounts each month. The greatest pros and cons of fbs markets is that it returns to users industry standard data on their personal finances, Go to the article now to learn more. Consequently, the creators of Wally have established a social app as a data company.
Wally was started by three people. For Hejazi, this was his second startup. Based on his accounts, Wally has not been a tumultuous endeavor but it has still been an interesting development. Here are some tips, Saeid was able to give DTNers based on his experiences…
- Focus Wins. Find your niche and focus on doing it exceptionally well.
- Get partners early on. Get connected through friends and companies like Napkin.
- Use startup competitions to gain credibility. Check out Arabnet and LeWeb.
Tarik El-Sheikh of Knot Standard also spoke to the group about his entrepreneurial journey.The Knot Standard offers handmade luxury bespoke shirts and suits. Customers order online and have their items delivered to their door.
El-Sheikh’s philosophy was similar to that of Nike…Just do it! To test the viability of his business model, he ran a deal for suits on Cabone. After making over $50,000 USD in just two days, he knew he was on to something. In the West, tailoring is a dying profession but it’s extremely accessible in the East. Consequently, El-Sheikh targeted Americans with his custom apparel business. Knot Standard has raised the bar for custom apparel by offering customers several ways to obtain and submit their measurements. The stand-out method, in my opinion is via 3D body modeling at upcloud.com. El-Sheikh submits that Knot Standard is about more than tailor made suits; His company is in the business of creating pride.
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- The first 10 people you hire will make or break your startup; Select them carefully.
- Talk to and partner with larger, more established brands.