Business ideas“ on the side”
For the young start-up scene, crowdfunding is the most effective means of financing business ideas and creative projects today. DELUXE met Felix Plötz at Entrepreneurs Day 2016 in Munich and asked him what advice he would give to entrepreneurs with new ideas. interview by birgit Unger
Herr Plötz, in your new book‘ Das 4-Stunden- Startup’, you tell the story of a German woman who has recently successfully made a name for herself organising yoga holidays to Mallorca. What were the factors that contributed to the success of this project? It is a wonderful story. At first it appears somewhat whimsical, but in reality it is absolutely sound. Before Claudia Gellrich founded her company‘ Karmahike’, she already had several years of experience in major Berlin start-ups behind her. She was one of the first employees of the shopping club‘ Brands4friends’ that caused great interest in 2010 when it was bought by eBay for 150 million euros. She stayed with the company for another couple of years and continued to learn her trade from the ground up. When she finally tired of the Berlin start-up hype, she decided to start up on her own. Her concept was based on a rock solid business plan, but what made it such a success was that it combined both of Claudia’ s great passions – yoga and hiking. In my view, this is one of the most critical points when starting your own business. It cannot primarily be just about money, it needs a large portion of enthusiasm behind it.
The advantage it has over a loan from your local bank is that it forms a direct link to the consumer, who through his or her investment establishes the immediate market value of the new business idea. In a few keywords and with a video produced as cheaply as possible, creative types, inventors and social entrepreneurs are able introduce their concepts to the community. The amount of money contributed is ring-fenced for that particular product, which after implementation of the project goes to the investor, provided that the funding target is met within the specified time. This also confirms that the starter had an idea that can achieve success in the market. One example that made headlines throughout Germany was the campaign on Startnext. com launched in 2013 by Felix Plötz and Dennis Betzholz.
They wanted to publish a book documenting 12 success stories of 12 unusual start-ups, and this brought the two young entrepreneurs to the attention of the successful German publisher Dr Florian Langenscheidt, who gave them his active support. Since then the book,‘ Palmen in Castrop-Rauxel’, has become a bestseller, and the publisher‘ Plötz & Betzholz’ has become part of a publishing group: at the beginning of 2016, the traditional publishing house Ullstein Buchverlage announced they had taken over the young publishers. Felix Plötz’ s latest book‘ Das 4-Stunden-Startup’ climbed into the bestseller lists shortly after publication. His lectures calling for more courage and start-up spirit on the part of established companies have brought him international recognition.
You know the Island from holidays you have spent there. Can you see any gaps in the market that could be plugged by young entrepreneurs? I’ m afraid it’ s not that simple( laughs). I know the Island well as a visitor, but good business ideas are seldom so obvious that this would be enough. But I am one hundred percent sure that there is enormous potential for new business ideas in Mallorca.
What are the most important criteria that a business model ought to meet before it can be implemented? First of all, it is very important to have expertise in that field. To be more precise, expertise combined with enthusiasm for the subject. Once I have this as a starting point and I am passionate about yoga and hiking, for example, then the question of whether I offer this in Germany, Mallorca or somewhere else
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