Scredit Crunch

As finalists at the 2008 Seedcamp I thought it might be useful for today’s Stockholm Seedcampers to share some tips from lessons we learnt then, and over the years.

• Talk to other Seedcampers. While, in theory, we are competing against each other, we are also in it together. Several contacts we made during Seedcamp Week have lasted throughout the years and have helped to push us onwards in our own quest.
• Show your product! I cannot stress this enough. It makes the world of difference to people understanding what you do, and convincing them you are able to pull it off. Even if you only have mockups or a prototype, it is still worth showing it.
• Mentors are not gods. You will get conflicting advice and it is your job to work out what is valuable for you.
• Not being a winner at Seedcamp is not the end of the world. There are many reasons why you might not win, but if you don’t, learn from the experience and keep pushing forwards. If you truly believe in your vision, nothing can stop you.
• Entrepreneurs are the toughest critics. Basically entrepreneurs only believe their own idea rocks. They will give you advice, but can also be very harsh. This is also why sharing your idea is rarely a problem. Entrepreneurs have better things to do than to steal it.
• Open your product to the public before Seedcamp. You will get some media attention, so use it if possible! This time we will not be able to do that, but don’t do as we do …
• Have a full array of questions in mind beforehand. You will meet people from many different backgrounds. You are not there to pitch and make them ‘get’ your product, or for the off chance of investment. You are there to learn and make contacts.
• If you have a big vision, and want to pitch it, make sure your actual product is relevant or links to that vision. It should, in effect, implement that vision. It might not have all the features, but it should make that vision a reality. If not, you will only confuse people, and it may be better to de-emphasise the ‘big vision’ for now.
• Show your personality. That can be quite scary, and it’s easy to hide by being a robot. That will limit your success. There are no need for gimmicks, but personalities and emotion are more memorable.
• If you’re not willing to accept the Seedcamp terms, you are wasting their time, and yours, and you’re not being very fair. Better use your time with something else then.