Mymuesli co-founder Max Wittrock talks about finding the right idea to build a startup and to kick off a business
In this episode Britta Weddeling, editor-in-chief at Bits & Pretzels, welcomes Max Wittrock! He is the co-founder of German breakfast cereals brand mymuesli, which was one of the first companies to allow customers to create their own breakfast cereals. Today it’s a booming business with up to 60 million in yearly revenue, over 50 physical stores across Germany and around 600 employees.
Meet Max at this year's Bits & Pretzels Networking Week, where he will join us as a host in our "The Story Behind" sessions!
With over 14 years of experience in the startup industry our podcast guest this week has picked up quite a few learnings along the way that he wants to share with you: 1) why trusting his co-founders and realizing he's more the "clip board type" made him leave mymuesli, 2) his ABC for product market fit for founders – from finding the right idea for your startup to testing and proving your business thesis in the markets and 3) why he thinks the best time to start a company is as early as possible!
Due to his experience he is also a popular public speaker and podcast guest especially on topics like entrepreneurship, innovation, how to think outside the box and create new business ventures. And he is surely a true all rounder himself by being a DJ, photographer, podcaster and blogger as well as taking the role of an ultimate guru for everyone starting out in the startup scene.
His tip for finding the right idea for your startup and testing and proving your business thesis in the markets?
Don't look for a billion dollar market opportunity because you might be like, oh, real estate, that's a big market. But tons of people are already doing real estate. (...) look for a niche market that you can really kind of conquer more easily than a big one.
04:45: How to identify the right time to leave the company you’ve started
11:51: Trust your feeling when it comes to finding the perfect product
13:42: Don’t let your idea be ruined by numbers
16:05: Find your niche and start the journey
18:30: Why you should kick off your company as early as possible
21:50: Beer Garden Break: “The stars have to align for a startup to succeed”
27:04: Why to never judge a decision for stuff you couldn’t have known
32:30: B&P Tool Box: Read a classic novel from the 70s for new input
36:01: Either-or-game: “Being the peacekeeper is both good and bad”
Production: Regina Körner, Migo Fecke (professional-podcast.com); Sophie Dechansreiter & Dina Zhakupova