Episode description

Here's what we discussed:

• How Mads was an entrepreneur since high school. At the young age of 16, Mads started his first business
• From Denmark and educated in London, Mads always knew he wanted to have his own company
• Living all over Europe, with a fascination in tech, Mads now lives in Bogota Columbia with his wife and is VP of Product at a FinTech company, OmniBnk
• After seeing the future in Crypto, Mads had friends who convinced him to jump in early and do something interesting with cryptocurrency
• None of his friends, and Mads included, were technical, so the team outsourced the initial site to a team in Nepal
• The concept was to be able to accept crypto to actually purchase products, and BitBrochure would aggregate products that could be purchased with crypto for crypto owners
• For the first two iterations of the product, there was zero user research
• After not seeing traction, Mads and his team started soliciting user feedback
• Outside of user testing, Mads and his team started benchmarking against competitors and really diving into the details of why they weren't getting traction
• The understanding of how crypto owners viewed their coins also influenced the number of users who actually wanted to cash in for physical goods
• Why the UX and visual interface of the site also impacted adoption
• How timing can impact the success or failure of your startup
• Great advice to wrap up the conversation!

Connect with Mads: LinkedIn

Check out the book: Martin Dawes - wake up and sell the coffee