Anurag talks to us about his experiences as a founder of BullBear and gives some great advice to those just starting out.
Can you introduce your start-up? What is it, and how did it come about?
BullBear’s objective is to optimize trading success through simulation games and automated guidance. Millennials shy away from investing because of lack of confidence and high costs of entry. BullBear provides a risk-free setting to practice trading.
Our games app is set up as a free fantasy finance league. Players choose real assets to trade with a dummy portfolio of cash. They win league promotions and prizes based on their trading performance. We encourage engagement in financial markets and provide a fun way to learn.
Where are you in your startup journey?
We are at seed stage. Our MVP has gained market traction over the past year and we have managed to secure funding to move onto the next iteration – A full games arena with duels and tournaments, live assets, badges, cash rewards and more. Our goal is to be the candy crush for trading.
To date, what has been the biggest triumph for your business?
Hard to choose one, but probably fund raising as we had been bootstrapped for some time. Or it could be that we have managed to get a steady stream of players with over 15k installs in the past year. Our tech team and advisors deserve special credit. We look forward to scaling the product thanks to our angel investors.
How have you found being a c0-founder? And what advice you would give to other co-founders?
Yes. It’s been great. My cofounder is a full-time quant trader and now helps with the future vision of the product. We had come up with the idea together at University and did research to build the long-term business model. It’s great to have him around to go back to for advice on current trading trends and possible innovations to add to our app’s gaming experience. Its best to have open conversations around each founder’s role at every stage of a startup.
How do you manage to balance growing a start-up with having a personal life?
My personal life is directly correlated to the company. It is impossible not to get work back home, but It’s important to have normal off hours without constantly stressing about your startup.
How do you cope with the pressures that come with building a business?
By keeping things organized and having a well thought out implementation strategy. It can still get hard sometimes, but a good team helps.
Did you pursue investment? If so what advice would you give on pitching? What was your secret weapon?
Keep things simple and short – pitch & product. Fund raising is a drawn-out process, but great for evaluating your business model and future prospects.
If you could name one thing that you wish you knew when you started, what would it be?
Fund raising can be a major marathon!
To date, what has been your most important lesson?
Less is more. Don’t try to do it all but concentrate on your strengths as a startup. User feedback is crucial to improve.
Do you have any tips or advice for anyone thinking about starting up their own business, or who have just started their journey?
Have a clear vision and be ready to pitch.
What has been the most challenging part of your start-up journey so far?
To not go around in circles. Early stages can be quite hard to get through without wasting much time. We have managed to gain some momentum and would like to work our way up the exponential ladder.
What’s next for your business?
We are closing up our funding round soon. The next step is to go live with our upgraded games model for worldwide users. Watch out for it this winter!
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