Berlin-based favorite Tape.tv just raised €5 million ($6.2 million) from Atlantic Partners, local charmer Dario Suter, leading angel Christophe Maire, Christoph Daniel, Marc Schmidhelny (DCM) and others. To mark the occasion, we asked co-founder and CEO Conrad Fritzsch to share his top gems of startup wisdom.
Action, action, action, it’s all about action
It’s very American but it’s very very true. I see a lot of people in Berlin-Mitte drinking latte machiattos and talking over a lot of ideas but you must do it!
Focus on whatever it is that’s at the core of your business – and be willing to change the rest
Focus, always, on the core of your business. What is the idea? What do you sell? What is your product? Our product isn’t music videos; our product is entertainment. Entertainment with music. Music is in the heart – now it’s music videos, maybe in the future it won’t be music videos. I don’t know.
Good people are the blood of your company
Good people are the heart and the blood and the bones of your company. Without them, you don’t have a good company.
Make sure you’ve got the intelligence you need inside the company
I’m not a techie. I come from the entertainment industry and studied to be a film director. My business partner, Stephanie Renner, is also more from entertainment – from the labels, from the music business. We’re not core IT nerds, we don’t have the technical part. So, I’ve learned now I must bring the intelligence for IT into the company. You have to figure out the core intelligence for your company and bring it in. Don’t do it through outsourcing or partners or other things. When I build my next company, if it’s an entertainment and tech company like Tape.tv, the founding partner must be a technical person!
Be open to advisors – but don’t be blind
When you start finding success, everyone starts telling you what you must do, what you have to do, and you have to be very strong in your opinion. At the same time, you must be open. Sometimes you can’t see the future when you’re really deep in the business. The good people around you can help you open your mind.
We just closed a round – this is not a financing round, it’s more a tactical, strategic round with partners like Christoph Maire for scaling businesses worldwide and Marcus Englert from Atlantic Capital Partners… Advisors are very very important for your business but you must be careful about what is good, what is not good advice.
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