The startup world can be a rollercoaster ride of highs and lows. With 90 percent of startups not making it past the first year, survival is truly an accomplishment. Here you’ll find advice from 4 startups that have successfully passed the testing stage and are steadily paving their way to growth.
When asked about startups, one of the main things Vitalijus Majorovas, the successful co-founder of Pulsetto at Kilo Health, emphasizes is the importance of having a partner, as being a lone soldier in the field can be challenging. One reason for this is that investors tend to be more suspicious of startups with only one person behind them, making it preferable to start with at least one colleague.
Majorovas exemplifies this principle by having started with a team of two people. He has explained to Digital Journal the ideal scenario is to complement each other’s competencies.
Povilas Sabaliauskas, his colleague, serves as the engineer and technical expert, while Majorovas focuses on development, marketing, finance, and sleep science.
The science of sleep is the study of how and why we sleep, and what happens in our brains and bodies during sleep.
However, in the long run, Majorovas explains, a larger team becomes necessary, as accomplishing too much with just two people is challenging. Thus, it becomes crucial to gather a team of professionals, which may even be more critical than having the most original product idea out there.
Majorovas explains the development process: “Back then, there were only two of us. I worked on business development while my colleague Povilas worked on the product. Two people make a team, but the possibilities are limited. Additionally, there was a project similar to Pulsetto on the market, but it was complicated, expensive, and not user-friendly.”
Majorovas continues: “So, we had been working on the concept for a while and knew we needed more resources. Fortunately, I already knew the CEO of Kilo Health, Tadas Burgaila, so we pitched our idea to him. To be honest, the idea was so massive that we think Kilo Health didn’t initially believe it was possible. Still, we agreed to develop a prototype product within two months, and we did.”
This became the basis for expansion and growth: “That’s when the acceleration began, and the Kilo Health co-found program welcomed us to the team! Typically, it takes 2–3 years to develop a market-ready wearable device, but with Kilo Health’s bold approach and quick decision-making, we were able to produce a market-ready product within 6 months.”
The second part of this feature on startups looks at how a good idea is pointless without having an identified market. The third part looks at the value of experience and learning from past errors. Both feature comments from entrepreneurs who are aligned with Kilo Health (a digital health and wellness company).
