With more than 6,000 influencers, FanBytes is the largest video influencer network in the UK with customers such as GoPro, Disney and Adidas. Dot Matrix Group met Co-founder, Tim Armoo, who gave us his insights about what he has already learned during his entrepreneurial journey.
1. What is one thing you find to be true that most people would disagree with?
Ahh a Peter Thiel one, I’ve thought about this before. I’d say I believe there is a process behind everything. I believe that in life you can obtain anything you want just by reverse engineering the outcome and doing the exact thing. I believe most people attribute a lot to luck but also them having to figure it out themselves.
2. What were some of the biggest lessons that has impacted the way that you work? What was the lesson, and what was it like before and after?
The moment you’re more than a few people your role as CEO becomes Chief Empathy Officer and your value becomes making sure other people are doing their best work. I used to think that growth meant that you then grew your actual output however I actually now do less “actual work” and just spend that time focusing on helping others do theirs better. Our productivity has increased drastically due to that.
3. If you were to do again, what would you do differently?
I’d write a business plan haha. I don’t mean one of those 90 page documents outlining a bunch of stuff which no one will read but about 2/3 pages which outlines exactly what we’re trying to do, how we’re going to do, how we’d get customers. We felt our way into where we are right now and I feel like proper planning would have helped even further than we are now.
4. How did you make your first sale?
Bluffed it, we mentioned to them that we had a product which we didn’t. They called our bluff, took us 3 sleepless nights but we did it. Built the software and got the right influencers for the campaign.
5. How did you get credibility quickly?
We hustled . We have a product that people want. Plus we treat our customers brilliantly offering them the best in class support to get the best out of their campaigns.
6. How did you get funded or what creative strategies did you use to execute on minimal cash flow?
We’ve raised two angel rounds so far. No creative strategy at all, we just took less salary at the beginning – easy to do when you start the company when you were at university.
7. What habits/mindsets helped make you successful?
An insatiable attitude to learning, I think everything can be learnt and so I read about how to become better in any department. Its easy to become arrogant as CEO to think you know everything. You don’t. Learn from others.
8. How did you distinguish yourself from your competitors?
We’re a tech platform others are manual. We have processes in place which help us to deliver results over and over. These are proprietary processes guided by technology and also tons of data points.
9. What was your biggest mistake?
Not asking for help at the beginning, not expanding my network rapidly at the beginning. No one became successful on their own and I think I didn’t consider that early on in the journey.
10. How did you deal with failure?
I hate it. I know people say failure is good and you can learn from it which is true. I have a notebook which details exactly when we had a failure, what we did to mess up and how we can stop that happening.
If you want to talk to Tim about video influencers go here and contact him.