Interview With Andrew Lockhead
Describe your product or service:
“Interactive map providing users with a seamless experience when searching for travel services near their destination.”
Describe your company values and mission:
“Enable businesses to instantly monetize their consumer platform potential through best in class ancillary products:
How are you funded? I.e. venture capital, angel investors, etc.
How big is your team?
“18 [team members].”
Did you always want to start your own business? What made you want to become an entrepreneur?
“I always wanted to start my own business one day, I saw my father run his, and I thought it was so nice to have control over your life. My goal was to 'beat' him and grow a bigger business by myself.”
How did you come up with your startup idea? How did you decide to actually act on the idea? What gave you confidence that you were on the right track?
“It was actually my previous startup that led to this opportunity, as I was once more, solving my own problem. Once we got a Reddit user backing us, we knew we were onto something.”
How did you come up with your company name? Did you have other names you considered?
“Stay.com was already purchased. My co-founder was 22 at the time, so Stay22 was born.”
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What is the greatest challenge you faced in starting your business, and how did you overcome it?
“Build trust with partners. We had to pay her way with our first customer to get there.”
Who is your product or service made for? Who is your target market?
“Online businesses looking to improve their customer experience while generating a new revenue stream. Mostly events/travel related.”
What's your marketing strategy?
“Words of mouth, referral, business case, ads, etc.”
How did you acquire your first 100 customers?
“Cold call, outreach, friends.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
"MRR, Bookings, Clicks.”
What's your favorite entrepreneurial book and podcast?
“Business wars & Delivering happiness.”
What is the biggest lesson you learned during your journey?
“Trust your team.”
Who is your support system?
How do you stay motivated?
“My team and clients — speaking with them usually boosts my morale.”
Did you have to develop any habits that helped lead you to success? If so, what are they?
“Get a kid [who will] force you to wake up early.”
What are you most proud of as an entrepreneur?
“Building an amazing team sharing my values and promoting our culture.”
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More on Stay22
We were fortunate enough to hear some valuable insights during our interview with Andrew Lockhead of travel startup Stay22 that will inspire, motivate, and teach aspiring and established entrepreneurs alike.