Joobili in London: Part 2

Aside from cruising the Travel Technology Show, I used my time in London to meet with Howzat Media and Index Ventures. Both companies have considerable experience investing in travel start-ups. Joobili is too early stage for these guys, so rather than begging for money I used my time with them to soak up some advice about what Joobili needs to do in the coming year to be successful. The simple answer was this: “get lots of users”.

Now you’re wondering why I had to fly to London to learn Joobili needed to get lots of users, right? It sounds obvious, but it was interesting that having a good idea and having lots of revenue were not mentioned. If you have lots of users, it means the idea is good, and it means you can monetize that traffic. Simple as that…err…not really. Helping all those people to discover Joobili takes a lot of work, time, and connections (hint: this is where you come in).

Here are Howzat Media’s top 5 Tips for Start-Up Growth:
1.    Product Passion: Being passionate about your product fuels word of mouth buzz and customer loyalty.
2.    The Team: A plan will never stay the same; the team is the only factor that will ultimately bring success.
3.    Funding Lite: Raising loads of cash sounds glamorous and fun. Forget it. The more money you raise the more pressure to think absurdly big, the less control you have over the business destiny and the more you are likely to be interfered with by your shareholders.
4.    Determination & Focus: A start-up will take raw grit, determination and unbridled focus in order to succeed.
5.    Make Mistakes: A start-up has the luxury of taking risks and trying things that its bigger foes cannot do. Make the most of it. Mistakes are inevitable, it is how you respond to them, learn and adapt that counts.

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