Welcome in the Press
Rainmaking has been elected "Entrepreneur of the Week" by Dagbladet Børsen and is today presented on the back of the supplement VækstDanmark. Rather the back of Børsen than the cover of Ekstra Bladet:-)
During an interview a couple of weeks ago, we were asked to provide some good advices for other entrepreneurs. We wrote down 7 advices, which in our belief can lead you to either make it or break it. They were shortened so as to fit into the textbox in the paper, but they do better in full length. Here they are:
The Rainmaking advice to other entrepreneurs:
1) Choosing the first the idea that comes into mind is slobby! Evaluate many ideas and kill the ones that are not waterproof.
2) If you can’t find investors for your project, there might be a good reason. Come up with better project instead of getting stubborn.
3) Your initial concept is most likely not the one that will give you a success. Always start of with a small test, so more approaches can be tries out before the purse is empty.
4) Be critical when choosing partners. Go for the best partners and employees. People who are twice as expensive are usually ten times more efficient.
5) Create a mental vision with your team from the very beginning. Identify exactly what you want to create and why it is worth fighting for. Be prepared to adjust the vision as you go along.
6) Take 10 hours of your workweek and spend the time reading relevant literature, talk to people and exercise. You will loose perspective if all you do is work.
7) Do not believe all the miseries you hear about entrepreneurship. Given the right circumstances it can be the best job in the world.
What´s in it for you?
Sometimes it is sound to pause for a second and consider what others can use your company for: What’s in it for you?
Investors
If you invest in a Rainmaking project, you will first and foremost receive a solid return on your investment. Today we have 9 experienced and competent business angels, who have jointly invested 25 million DKK in Rainmaking and since the sales of CityLasik they have started to earn a yield. But our investors not only get a good ROI, they also become part of a strong network that meets 4 times a year to share knowledge, contacts and learning. Because we actually listen to our investors’ input, we only take on "wise money" and get enhanced chances for success through their experiences.
Team member
If you become part of our team, you will have a unique job. You will be starting up companies from scratch together with other skilled business developers, specialists and the Rainmaking partners. One month you might be testing a new business idea, and next you will spend 3 months increasing the bottom line in an existing company followed by 6 months spend on getting the first 20 customers and first 5 employees in a brand new firm. In Rainmaking we spend a lot of energy helping each other to become even better through day to day coaching, courses, seminars and sharing of knowledge and experience.
Partner colleague
If you have the right competences, values and motivation you can become partner in Rainmaking on equal terms with the 4 existing partners. As a partner in Rainmaking you own a range of firms together with like-minded people. You can either work your way up internally or come straight in if you are e.g. a successful entrepreneur, a partner in an acknowledged consultancy, a manager with proven results, or if you in some other way can contribute massively to the further development of Rainmaking. Our partnership is cordial and we want to stay that way. Life is too short for internal fights, "me"-attitudes, sub-optimisation and bad vibes.
Entrepreneur
If you are an entrepreneur you can become part of Rainmaking Club. This is a place for help and support to succeed in your projects in exchange for a small share of ownership. In this way we are in the same boat and we set our competences, network and sparring at your disposal. We send no invoices as we want you to spend your money developing your company. We will rather have a small share of the upside if you create a success. If you give us 10% of your company, we dare to promise that your chances for success are increased by 10% and that the success will become at least 10% larger. It is a win/win partnership where you do the hard work and make the calls – and we help you to overcome those stones on your path which often knock down entrepreneurs and to gather momentum and pick up speed.
Outside-in
About a week ago I spoke to an entrepreneur who I respect very much, Jacob Nagel who owns the cateringcompany Gastronomiet. Jacob and I have known each other for 3 years and have followed the other’s development as entrepreneur.
The meeting with Jacob reminded me how important it is to think outside-in – as opposed to inside-out. Thinking outside-in implies taking your customers needs as your point of departure, instead of your own. How is the reality of your customers, what do they need and what would amaze them?
Way too may companies – including entrepreneurs – think inside-out. The trap is easily fallen into and I do myself on a daily basis. Sentences such as "our system can’t handle that", "our organisation is not geared for it" and "it will take too long to change" reveal that an inside-out mindset has sneaked in to your organisation.
So, if you meet any inside-out thinking out there (or at Rainmaking!) please write us for a common scare and warning.
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