Founder of Insurtech Startup OKO Shares Their Top Insights

Founders of OKO.

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. Simon Schwall, founder of insurtech startup OKO, shared valuable insights during our interview that will inspire and motivate aspiring entrepreneurs.

What advice do you have for aspiring entrepreneurs?

“Fail quickly — do not wait to have the perfect solution to launch it. Instead, expose it as soon as you can to your target audience.”

What is the best method you’ve found to avoid burnout as an entrepreneur?

“Look back — it is overwhelming to look at the obstacles in front of you. Take time to reflect on your achievements and the things you’ve built already.”

What is your advice for coming up with a unique startup idea?

“Get out of your comfort zone. Some areas are very competitive because they solve problems that affect people who have the education and money to develop solutions. But if you spend time with people in a very different field, you will discover huge problems unsolved, which you can turn into opportunities.”

What is your advice for overcoming challenges and failure?

“Take every challenge as an opportunity to test something new. It is okay to fail, as long as you learn lessons and apply them to your next attempt.”

What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?

“Love what you do. It will be hard and take a lot of your energy to succeed. And even then, you are most likely to fail. So you should really check that you enjoy the ride and not only hope for a better time when you finally succeed.”

What is the best advice you’ve ever received?

“Do one thing and do it well. You can quickly lose your focus running after different opportunities. But your strength as a small company is your speed and efficiency, so focus it one specific problem.”

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