Ep 19: Jekabs Endzins
on serial entrepreneurship, the potential of geo data in AdTech, principles of building multiple profitable companies & helping millions of people to delete embarrassing tweets
Jekabs Endzins is a serial entrepreneur, currently developing Roibox, a digital marketing tool that revolutionizes the potential of geolocation data. He has co-founded several profitable businesses, including Mogo Finance (now Eleving group), Tapbox, TweetDeleter, Finitera. He has also failed close to 10 other ventures over the past 10 years and has some ‘war stories' to share.
As a true serial entrepreneur, Jekabs is always working on several projects at the same time, and in this episode, he shares his secrets on how to manage that. We talk about the latest in AdTech, building and failing companies, choosing the right co-founders, the value of business incubators, challenges in monetizing businesses with great user metrics as well as failures and learnings from building companies for 10 years.
CLICK one of the links below to listen to the episode
The topics covered in this episode (with Timestamps)
🔈 [6:15] Roibox and making digital ads more geo-targeted and efficient
In most online businesses analyzing data is a must
The place where consumers work, live, and spend their time has an influence on their commercial decisions
Digital ad spending is bigger than TV, print, outdoor, and others
Deliver product updates as fast as possible to get real market feedback
Be decisive - a bad decision is better than no decision
Finding product-market fit by trying to help as many and as different customers as possible
🔈 [26:18] Serial entrepreneurship and managing multiple ventures at the same time
The key for time management is to have the right partners in multiple projects, to be able to run many companies in parallel
The more you do, the more you can get done
The ability to multitask between projects is key
Finding co-founders based on gut feeling
Doing background checks and references on cofounders you don't know well
It’s important that you want to spend time together with your co-founder
🔈 [38:15] Tapbox and the value of business incubators
Government support for startups in Latvia is extensive enough
Business incubator as big financial support in early stages
You can get 50k and more financial support without putting in too much work
🔈 [45:15] Tweetdeleter and challenges in monetizing a great and highly demanded product
Tweetdeleter is a new type of company - fail it till you make it
Challenges in monetizing a convenient consumer product
🔈 [59:28] Business fails and challenges
Dealing with modern financial system regular practice of freezing funds
Learnings from hiring over 10 years
You can always build things faster
Find out more on https://www.pursuitofscrappiness.co/
Support for this episode comes from Nexpay > https://paynexpay.com/
