May 23, 2022

Bytboo - The ups and downs of running a startup

Bytboo - The ups and downs of running a startup

Starting and running your own business is a whole lot of fun, most of the time. New challenges, breakthroughs, obstacles, and wins are all part of the journey. Herman Treschow, founder of Bytboo, thinks that it is what brings the thrill of entrepreneurship!

“There are a lot of obstacles to get through. Nothing comes to you for free and you have to do everything on your own from the start… but that is also what’s fun and gives you adrenaline!”, says Herman.

Starting from the beginning in 2019, Herman had left his position as CEO at another company for paternity leave. During this time, the company had a comparing structure that they just didn’t quite seem to figure out, and Herman couldn’t let it go. The thought of what they should have done to fix it kept nagging inside his head. 

It was not until his family was buying a new house, that everything clicked. Even though selling a property is one of the biggest affairs in your life, there is no service in helping you to choose the right realtor for the job. After a lot of digging and comparison he found that, sure enough, there was a severe difference (as much as a 250.000 SEK difference) depending on what realtor sold what property. Suddenly, everything fell into place and he knew exactly what needed to be done.

With the strong feeling that this could be something, he built a MVP (Minimal Value Product) and sent it out to the market with shaky hands. 30 days later, he could breathe again. They had succeeded and found interest in the service. Despite the breakthrough and confirmation, you never know what’s waiting when running a startup.

“There sure has been a lot of fires to put out, and when you think you are done, another one is waiting just around the corner. Since you are more or less constantly putting out fires, you’ll be surprised with how far that is getting you and your business in such a short amount of time!”, says Herman.

A special moment along Bytboos journey was collecting the second round of capital. Suddenly, they were a “real” business that had actually made it through. The realization created a shift in the whole company's approach and they became a real player on the market. But even though the aftereffects of raising capital were memorable, it was also one of the hardest parts. 

“The pitching part is fun, but after that you lose all control into the hands of the investors. It’s time consuming and a bit scary, but has to be done. I’m dreading just now, thinking about the third round coming up!”, says Herman. 

Since his colleagues are situated in Stockholm, Herman felt that he needed some extra energy and drive when working. That is when he found Minc Workspace. Just next door to his office, he even found a new business partner, Emanuel Weinsjö, and started a collaboration where Emanuels tech company is helping Bytboo build their new product. This new product is another step towards their goal in becoming a natural step for anyone selling their home. When launching, they could help the individual along the entire housing process with realtor, mortgages, sales, electricity contract etc. Soon, they are also expanding their market and are launching in Europe!

With such big things coming up, we are more than excited to follow their journey! And if you need help with what could be the most important affair in your life, you know who to contact.

About Minc

At Minc, we believe in creating something bigger than yourself. We offer everything an entrepreneur needs to go from concept to market in-house. Our international network of advisors and award-winning programs will help your startup scale faster and smarter. Welcome to the startup house of Malmö.

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