Interview with Hilmar Scheel, >>venture>> juror and CEO at bob Finance AG.
Hilmar Scheel shares advice for startup entrepreneurs regarding their team and business case.
If you could do it all again, what would you change?
I prefer looking forward instead of looking back. So I don’t want to change anything. Every experience I have gained, no matter if through success or setback, added to my personal development and backpack of capabilities. Also, I am fully convinced that the combination of passion, resilience and hard work will be successful at some point. You just have to be patient.
What is a question you'd like to answer, but no one asks?
Talking to entrepreneurs and start-ups, I would appreciate a question like “Where do you see capability gaps in our team?”. While some founders might perceive such a question as a sign of weakness, I believe humble founders are open and keen to “know what they don’t know” to learn and to mitigate risks.
What do you look for in an winning business case?
There must be a clear and relevant – in terms of potential market size – customer need which is being solved and for which customers are willing to pay. At the same time, it is important to ask “does the company have the ability to win?” That means what are required resources and capabilities to win in the long run and will the company be able to defend its position against new market entrants.