Helping and trying a Startup: Plick

Lately, I have seen many ads of startup second hand-apps, especially on the subway so I thought I would give it a try share my experience and hopefully get some extra cash! For over a month ago I downloaded the app Plick from Appstore and created a profile by simple connecting to my Facebook account. I have created ads before on sites the Blocket a for 6 years ago and must say that this was much easier and straightforward!

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My first impression was that it felt very similar to Instagram, you can follow people and people can follow you and the profile layout. 

 

 

 

 

 

 

 

 

 

 Next step was to upload the pictures of the product I wanted to sell, and I got some useful advice on things to consider when taking a photo. The lightning and background make a big difference and they advise you to also take a closer picture of the product. They also recommend giving a short description, hashtags, size etc.

 

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Hopefully, someone will find my beautiful dress that is up for 200 Kr!

So my conclusion of the app? I really liked the app and idea, a smart, easy and sustainable way to sell and buy clothes. My only concern is that my ad has been up for a while now and no one has shown interest yet. I’m wondering if it might be because there are not enough active users or if my dress is not attractive enough?  

I did some research and got to know that Plick has more than 20 000 active users and there are a lot of competitors on the market like the sites Tradera and Blocket, but also other startups like Shpock (10 milj users in EU and 0,5 milj users in Sweden) and Sellply (backed by H&M). 

To be successful in this market segment I think it is important to have strong market shares and invest in marketing to get the most active users. And in that way, I am helping Plick (and my dress) now by giving it some attention here in the blog!

Using the app is for free now so Plicks revenues are low, but Plicks plan is to earn money in the future by charging a 10 percent fee when a customer uses Plicks embedded payment service to sell a piece of clothing. I however, think that they have to have more influence on the market before taking charges, especially if their competitors are offering this for free otherwise they will just lose users.

So guys create an account and you might found something cheap and beautiful like my dress!

/F

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I remember this slide that Serdar showed us in the first lesson of the course, and I wasn’t surprised when I saw it.
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I had heard of the startup failure rate before and I can only imagine how much work and effort it takes to create a successful company. But why do so many startups fail? 

I wanted to know why so my curiosity led me to an interesting TED-talk clip with Bill Gross. Gross has founded and incubated a lot of startups at Idealab and was searching for the answer to that question too and made a research. He gathered data from hundreds of different companies to investigate why some succeed and others fail. Gross ranked each company on five key factors and found that one factor stands out from others. So what factors counted the most?

The idea?

The team?

The business model?

The funding?

The timing?

Surprisingly, it was not the business idea of the startup that was the key factor, which I thought. It was actually the timing that was the number one key to success. This shows how important it is that the market and society is ready for your business idea. Gross mentioned for example that Airbnb was so successful because it was launched at the right time and their idea could thrive in the recession. In the hard times of recession,  people were more willing to rent out their home for strangers and the whole thing became more common. Before that people thought that the whole idea was weird. “Who would want to rent out their house to a stranger that they found online for a short period? Who would want to live in some random person house? ”

Gross also mentioned how YouTube became successful because it was perfectly timed with the launching of Adobe Flash, and this shows the importance of timing it with existing complementary products.

So the lesson learned is that to increase your chances of succeeding you have to be in the market with your idea in the perfect time when there are a potential demand, mature market, and existing technical complementary products.

 

 

 

 

 

Searching for inspo? Then keep on reading !

There are so many inspiring free events that you can find on Facebook in Stockholm. It’s a great way to get inspired from different people with different backgrounds, broaden your network and find partners!

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As my friend Tanya wrote in the blog we found the information about the StartUp Bar at Best Western and hotel. I recommend you guys to go, they have more upcoming events:

4 Oct: StartUp Bar Stockholm 

https://www.facebook.com/events/1959593377589638/?acontext=%7B%22source%22%3A5%2C%22page_id_source%22%3A617894338286329%2C%22action_history%22%3A[%7B%22surface%22%3A%22page%22%2C%22mechanism%22%3A%22main_list%22%2C%22extra_data%22%3A%22%7B%5C%22page_id%5C%22%3A617894338286329%2C%5C%22tour_id%5C%22%3Anull%7D%22%7D]%2C%22has_source%22%3Atrue%7D

I thought I could share some information about other events that I found interesting :

21 Sep: SUP46 Masterclass – How to Start a Startup by Founder Institute

https://www.facebook.com/events/1942657369327748/?acontext=%7B%22ref%22%3A%2244%22%2C%22unit_ref%22%3A%22related_events%22%2C%22action_history%22%3A%22[%7B%5C%22surface%5C%22%3A%5C%22permalink%5C%22%2C%5C%22mechanism%5C%22%3A%5C%22RHC%5C%22%2C%5C%22extra_data%5C%22%3A[]%7D]%22%7D

27 Sep: Startup Tour Stockholm

https://www.facebook.com/events/1412633575481448/?acontext=%7B%22ref%22%3A%2244%22%2C%22unit_ref%22%3A%22related_events%22%2C%22action_history%22%3A%22%5B%7B%5C%22surface%5C%22%3A%5C%22permalink%5C%22%2C%5C%22mechanism%5C%22%3A%5C%22RHC%5C%22%2C%5C%22extra_data%5C%22%3A%5B%5D%7D%5D%22%7D

3 Oct: SUP46 FemTech #8

https://www.facebook.com/events/166536547233219/?acontext=%7B%22ref%22%3A%2223%22%2C%22action_history%22%3A%22null%22%7D

Hope to see you there! 🙂

/Farzana