Startup Studio Playbook by Attila Szigeti

Author:Attila Szigeti [Szigeti, Attila]
Language: eng
Format: epub
Published: 2019-02-17T05:00:00+00:00

Changing eCommerce, one startup at a time

If you want to build a resilient and ever-growing startup empire, you need rick-solid fundamentals and awesome people. In this guest chapter written by Máté Rab - COO at Innonic, you can learn about how one “wannabe Web design agency” grew into a global player in the eCommerce field, able to launch 2-3 ventures a year from own capital…

To be honest, we never knew it is a startup studio. Attila made us realize that our group is actually a new type of business. The story started in 2006, long before our path has been crossed with Attila, our dream business was --- wait for it -- a Web design agency. But just before the founding ceremony - which meant to be a record-breaking destroy of an extra large and extra spicy pizza - the ‘business model’ changed and we were in the Ecommerce Business.

At the very first day of operation, Csaba Zajdo, one of the founders wrote the study titled “The 12 Golden Rules of Successful Online Stores” on his own computer at home (which means that this study was made even before we have created any online store), which is still our no. 1 bait (reviewed a couple of times since then, of course).

Let’s jump into 2011, we have already sold more than 2,000 ecommerce stores in Hungary as single projects, but every major store have been built by our team. In that year we changed the business model again and launched ShopRenter.hu, the Hungarian Shopify (way before Shopify started to operate) in order to stay alive. Fortunately, this change has been a success, and most of our income in 2013 already consisted of the regular income generated by ShopRenter.

On the spring of 2014, we have launched OptiMonk.com: our first direct international “startup” which was a spin-off idea from the ecommerce business - saving the visitors of the site with intelligent on-site solutions, e.g. pop-ups.

Moving to January 2017, this was the year when Innonic Group was launched, now the #1 Startup Studio in our city. The founding squad (4 childhood friends) grew to 90 awesome colleagues, the income raised above 3 million EUR, while the vision remained intact: Building Global Success Stories. Our mission is to reinvent ecommerce and build world-class companies from Debrecen, Hungary.

Why Startup Studio model?

We believe that a Startup Studio is the best model to build successful global startups. But what do we call a Startup Studio? The meaning of this business model differs even within Hungary, not to mention different parts of the World. This is how we do it:

Building multiple startups simultaneously: We’re launching 2-3 new startups per year in addition to our existing projects. Our projects learn from each other’s successes (and failures).

Centralized senior team and resources: Each new startup we launch has a dedicated CEO and CTO who have access to all the resources and experiences of our core team.

Self-funding: We’re funding every new project from our own pocket. This means our startups are not dependent on investor time tables and every project has a chance to prove its merit.

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