Challenges are a normal part of life. This rings true especially for startups. … Join Yvette Adams in this episode of Young Entrepreneurs as she delves into how to overcome business problems.
In this presentation you will discover…
– How startups can achieve the funding that their business will require
– What tech tools startups will find most useful for their daily operations
– What the most difficult part of starting a new business is and why it’s so
– How user feedback can be properly utilised to improve one’s products
– How plans can be properly developed and put into action for any startup
Presented by Yvette Adams. Featuring Jack Perkins & Alex Peck, founders of Parallel Parking
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We’ve all been there. Already running late, we find ourselves driving around and around a busy full car park looking for a parking spot. We end up stalking people who are on foot, only to be deeply disappointed when they give you a wave and a smile and you then realise they’re just grabbing wallet. *Sigh*
Well, two young entrepreneurs from Sydney have come up with a innovative solution to all of our parking perils. Alex Peck and Jack Perkins are two old friends from Sydney who like others, faced the daily frustration of trying to find a parking spot in Sydney’s busy CBD. The two friend’s often saw empty driveways and came up with a innovative idea where home owners could lease out their empty parking spots.
Alex graduated university with a business and finance degree and Jack with marketing degree and they both found that there were no business models taught at university that assisted them start up the start up of their business. They are firm believers in going out there and asking the people the most simple and valuable question…. Would they use this concept??
The pair took to their peers and fellow university student’s. Were facing the same issues? What did they think of the leasing concept? Majority agreed on the problem and that it would worsen over time, not improve. They all though that the leasing concept was a fantastic idea! This was great feedback for Alex and Jack and it assured them that their was a market out their for their product.
After, many months of creating the concept then many more months spent on developing the app. Parallel Parking was launched in July 2016 which was eight months after the original expected launch date. The pair found that this was a long and interesting process as they both did not have a technical background. Without the technological skills and knowledge Alex and Jack used an agency for the development of their app which became a unsustainable process. After having success with Parallel Parking they were able to employ a CTO (chief technology officer) to look after all of the technical side of Parallel Parking. The team now had had all aspects of the business covered. The pair strongly believe that there are three important pillars (partners) when building a successful start-up business- a business and finance person, a marketing and technical person.
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