TEG founder: Don’t focus too much on raising funds – UKTN
Lyall Cresswell is the founder and CEO of Transport Exchange Group (TEG), a fintech platform for the logistics sector.
In this week’s Founder in Five Q&A, Cresswell discusses why founders should worry more about establishing a sustainable business model than quickly raising funds, the importance of knowing your market intimately and his background as a student of architecture.
What advice would you give to a first-time founder?
Know your market intimately – don’t delegate this, it’s too important. Find a genuine need, and build solutions that directly address it.
Start with a minimal viable product to validate demand before overbuilding. Focus on creating revenue from day one rather than chasing investment rounds.
Seek out early adopters willing to pay for your solution — they’ll become your proof points….
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