For many women the prospect of founding their own company is more exciting than an ordinary career in business. In this blog series we want to find out about the entrepreneurial spirit that drives these women and the ideas they pursue. Learn how they got started, their experience as female founders, and what they wish they’d known before entering the start-up world.
Anna Abraham founded Pay with a Tweet, a social payment system, in February 2014. With ‘Pay with a Tweet’ you give people access to your Content or Product once they tweet or post about it. This is a great way to go viral in the early stages of a product launch, or to make sure your content or product spreads further across the web over time. We met Anna to discuss her personal experience as a founder of a promising startup:
Anna, what motivated you to found “Pay with a Tweet“?
My brother originally came up with the idea for Pay with a tweet in order to promote his own book. I saw the potential for other companies to use social currency as a marketing tool and we decided to develop it into an international SaaS Solution.
Was it difficult to bring your idea to life?
Since Pay with a Tweet was already live in beta, it was not so difficult to start the next step. It took months however, to build the new system, solve bugs and recruit the right people.
Can you tell us about the greatest victories along the way?
Our first major victory was launching the system and getting our first paying customers. You wouldn’t believe how motivating the first sales can be! After that, It’s an ongoing test & learn. I think for me the biggest victory was that our assumptions on product functionalities and the amount of viral traffic we can generate for our customers were met. Now, we can say that our tool on average brings 3 new users for every user you have on your website. That’s a huge growth potential for marketers!
I’m sure, there are also difficult times. How do you deal with uncertainty, doubts & fears?
I try to talk them through with some people I trust and who I believe can help find answers or help make decisions. Luckily, I have some successful entrepreneurs in my inner circle.
Do you have recommendations for other women who might have business ideas?
Talk your ideas through with as many people as possible. Don’t be afraid that people might “steal” your idea, but rather use them as a powerful resource for feedback. Be open for criticism and tweak your business model if needed.
Why are there so few women entrepreneurs?
It’s a tough world out there! You need to be eloquent, have perseverance, strength and you need to want to take on responsibility. This includes having to make uncomfortable decisions. I think women tend to be more the “everybodys’ darling” type, which you simply cannot be, if you put the companies’ goals above everything.
What do you think is more important “professional skills” or “entrepreneurial spirit”?
I think you need to have both to be successful! But the entrepreneurial spirit will take you much farther than your current professional knowledge. Plus, you can always work on your skills, but it’s hard to change your attitude.
Any advice for aspiring founders attending SWWHH?
Get connected! Having people that share your passion is really motivating, when it gets tough. Help others with feedback and advice and it will eventually come back to you. I believe in good karma.
Anna, thank you for the interview and all the best for ‘Pay with a tweet’!
You want to build your own startup? Build a startup in one weekend and put yourself in the shoes of an entrepreneur! Join us at the Startup Weekend Women, April 10-12 in Hamburg. If you have a business idea, great! If you don’t have a business idea, join anyway! You can help bring other ideas to life. Guys are welcome, too! Stay tuned for more updates and interviews via our Facbook Page.