At one time or another, everyone has gotten that spark, that brilliant idea that pops into their mind encouraging them to start their own business. Most ideas are fueled by the initial excitement of their “million-dollar idea” or thought of being the big-wig that finally gets to call the shots. But most of these ideas ultimately fizzle when it comes to actually taking the steps to turn the plan into a reality. If you’re looking for a prime example of how to build a successful startup, look no further than Tom Oswald and his company, ClickASnap.
Tom Oswald Built a Great Product
The greatest way to attract customers and keep them loyal to your brand is to create a great product. Being an amateur photographer, Tom Oswald always stood behind creatives and starving artists. In 2014, he built Videscape to compete with YouTube Red, the latter being a new subscription service that had the potential to damage the independent music industry. He wanted to keep power in the hands of independent artists and allow them to continue to monetize their music.
Social media gained popularity, and people started using these sites to post and house their photos. Oswald noticed an opportunity to help increase the engagement and even the profitability they deserved. If video could be monetized so easily, why not still images? Taking several of the ideas from Videscape, he created ClickASnap, a platform that pays the user each time their photos are clicked.
But ClickASnap offered something that other social media platforms didn’t: users keep the rights and licensing to all of their materials. When you agree to the terms of use for Facebook and Instagram, you’re essentially permitting those platforms to profit from anything you post. This fundamental difference is what makes ClickASnap unique and the cornerstone of building a successful startup.
ClickASnap Kept Track of Budget and Finances
Most people underestimate how time-consuming it is to launch a startup. Oswald delegated the finances of ClickASnap to a professional to help manage time. This allowed more time to invest and focus on business development without the burden of cash management on the To-Do list.
The path to a trustworthy, reliable accountant, however, was anything but smooth. ClickASnap went through six different accountants in seven years before finding one that met their expectations and knew how to navigate the highly complicated tax codes in the UK. Do your due diligence by checking references and getting testimonials of any accountant you consider. When you land that rockstar accountant, it takes your startup to the next level.
Learn To Evolve
A good business plan will help anticipate inevitable changes as the business grows. Your business plan should include a plan for the future, so as times or circumstances change, you can position yourself to be adaptable on the fly. Being unprepared or unwilling to evolve can be catastrophic for a business. Remember what happened to Blockbuster when they scoffed at the rise of digital streaming services and rejected Netflix’s proposal for acquisition?
ClickASnap first launched as a completely free platform with unlimited uploads. As more users began signing up and using their services, Oswald noticed a flood of spam on the site. The ClickASnap team had to pivot from their initial business model and roll out new features and paid plans.
These plans opened more benefits for serious users pushing to develop their brand while still allowing casual users seven uploads per day. These plans led to an influx of revenue for the business while spam dwindled, giving the site more appeal to artists.
Client Engagement
Socially engaging with your clients is crucial to the success of your startup. Be present, easy to contact, and responsive instead of being a faceless entity behind the scenes. When your clients feel connected to you, they can become loyal and dedicated customers of your brand.
Of course, social media is by far the easiest way to connect with your customer base. Through ClickASnap, Tom can post pictures of his daily life, humanizing himself and becoming relatable to each user on the platform. Followers love “Ask Me Anything” sessions where they feel like they’re part of the ClickASnap community, not just a random user is a sea of photographs.
The road wasn’t easy, but Tom Oswald’s passion for the product, belief in himself, and smart execution of his business plan positioned ClickASnap for success. Tom’s story can help anyone who has that inner fire burning to get their startup off the ground.
Visit ClickASnap.com to try out the platform for free.