Founder of Insurtech Startup Asteya Shares Their Top Insights
Last Updated: By TRUiC Team
Any entrepreneur can tell you, launching a startup is a learning process. Therefore, one of the best things you can do prior to launching a startup of your own is to learn from those who have blazed the trail. Hadi Radwan, founder of insurtech startup Asteya, shared valuable insights during our interview that will inspire and motivate aspiring entrepreneurs.
What is your #1 piece of advice for startup founders?
“If you are just starting out, make sure to put your idea to a test and don't rush into building a company around it. Make sure that your idea is desirable, feasible, and profitable:
- A desirable idea — one that your customer really needs and solves a pain point
- A feasible idea — something that you can build or can put a team to build it
- A profitable idea — with a sustainable business model and big enough market.
Otherwise, it is a hobby.”
What is the best method you've found to avoid burnout as an entrepreneur?
“Early morning meditation.”
What is your advice for coming up with a unique startup idea?
“Stress test the idea outside your circle of trust. Make sure to go out and talk to strangers and not friends and family. Talk to companies who have built the same idea but in another country so that they don't feel threatened.”
What is your advice for overcoming challenges and failure?
“It is all about reframing. Challenges and failures are learnings. As long as you do a postmortem, challenges and failures are an investment.”
What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?
“Know your value. Make sure to know your value in the market and don't discount it.”
What is your advice for entrepreneurs seeking funding for the first time?
“Keep knocking on investors' doors. Someone will open up.”
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