Stacey Ferreira and MySocialCloud
Stacey Ferreira, an extremely young and very successful entrepreneur, shared with us her story. She started her company, MySocialCloud, just out of high school with her brother. Their passion and dedication led them to receive the first investments from Sir Richard Branson, Jerry Murdock and Alex Welch. Not only did they manage to return 4k dollars they borrowed from their parents to spent summer working on a startup in California, but they also acquired 1M funding! After the first success Stacey went back to college but already after her freshman year, she decided to take a leave of absence and follow the call to be a part of MySocialCloud. You can read more about this inspiring your lady here 20. Female Entrepreneur. Wrapping up her presentation, Stacey said:
The only other alternative to working on my startup was going back to college. So, I had no fear to move on.
Alexa Andrzejewski and Foodspotting
Alexa came up with the idea of Foodspotting following her passion and craving for great food, and unlike many other apps that help you to review restaurants, Foodspotting gives you a chance to review dishes and stumble upon great food around you. The startups was quite successful and recently was acquired by OpenTable for 10M in cash!
Although the path to success wasn’t easy. Alexa mentioned that, while talking to many investors, potential team mates and simply friends, all these people tried to talk her out of the initial idea in one way toanother. Some people encouraged her to think broader and create an Instagram, some doubted the idea at all. The main lesson learned from this was:
Stick to the problem you are going to solve, don’t let people talk you out of it.
The other question Foodspotting faced along the way was: “Should we be concerned about sharing our idea with many people? Perhaps, we should just keep it to ourselves until the product hits the market!” Many startups have this kind of concerns. So, what should they do? Alexa confidently stated:
The value of sharing your idea, which might lead to finding an investor, a great CTO or some useful feedback, is much greater then the risk of being copied. After you launch, hundred of clones will appear, no doubts. Share. The risk is always there, but benefits are also all there.
I can’t but agree. There are many great ideas in the air, but now it’s all about the execution. If you have an idea for a startup,talk about it to anyone who’d listen. The more you talk about it, the more you learn. You receive feedback, you receive critique, you receive inspiration and many useful contacts. Even if you decide to drop this idea and do something else, this might be one of the smartest decisions in your life :)
In his article Chris Dixon did a great job pulling together arguments on why you should share your ideas with the world. Takes only a few minutes to look it through Why you shouldn’t keep your startup idea secret.
Originally published at Stanfy blog