Gonçalo is a serial entrepreneur. He previously built and grew the multi-award-winning Fintech company SyndicateRoom and now is the founder and CEO of Rnwl, an Insurtech company launching in 2020. He is also considered one of the Top 10 most influential people in tech in the UK as well as one of the Top 40 most influential people in fintech in Europe.
In anticipation of his talk at the Business Funding Show ‘20 as part of the Entrepreneurs Unplugged panel running, the team asked him that given his experience at SyndicateRoom where he’s seen thousands of pitching entrepreneurs if he could share the tips on how one can assess the potential scalability of a business in the early days?
To which he responded, “on paper it’s very easy to assess the potential scalability of a business. It can be done on a post-it note!”. He further went on to briefly explain the process.
- Assess the market using online resources
- Think the product through and understand the value proposition
- Compare the cost of acquiring and serving the customer Vs the revenue that the customer will generate – if the latter is larger, the company is on to something
- Understand the incremental cost of the product or service – how much is going to cost for selling an extra unit? A services’ company that sells people’ time will have a high incremental cost whereas a tech driven business will have a very low incremental cost.
All in all, in practice, you only find out how scalable the business truly is by executing. The post-it note test can tell you if it definitely isn’t scalable. However, if the business is scalable, the question becomes how scalable and how to make it scalable.
Meet and learn from Gonçalo de Vasconcelos at the Business Funding Show alongside other thought leaders such as Juliet Rogan of Barclays, Matt Adey of British Business Bank, Anthony Rose of Seedlegals, Umerah Akram of London Stock Exchange and Elite and more. As a special offer, BFS is offering the KCWToday network with 15% off Standard tickets, simply follow the link and use code “KCWToday15” to secure your discount. Tickets: https://bit.ly/2Sl5G8U