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Karl Lillrud, Pricelizer. |
During one week each November,
Global Entrepreneurship Week (GEW) engages millions of people in an active celebration of
entrepreneurship. ESBRI is the country host for the Swedish GEW efforts. As
part of our work with GEW, we asked some profiled Swedish entrepreneurs, and a
couple of our GEW partners to answer a few questions – about their
entrepreneurial journey and about GEW. So far, we’ve talked with
Alan Mamedi,
Sanna Nilsson,
Caroline Walerud,
Nils Nilsson and
Michaela Holtz.
Now it’s time for Karl Lillrud, the founder and CEO of
Pricelizer. PriceLizer’s web service,
RevaLizer, enables e-commerce merchants to reacquire customers
who have abandoned their online shopping carts. Last week, Pricelizer was
listed among GEW’s top 50 startups in the
Startup Open,
a global competition to find some of the most promising new startups in the
world. In addition to this, Pricelizer has also been shortlisted as one of the
world’s
20 hottest startups in 2015 by CNBC.
Karl Lillrud is on Twitter:
@karllillrud
Hi Karl, what is your definition of an entrepreneur?
An entrepreneur is a modern name for an inventor, a
person who sees possibilities where others see problems or challenges.
Entrepreneurs have learned that what others believe to be the laws of nature
might not be true. They are prepared to challenge them to prove that there are
alternative solutions to everything.
Where did you draw most inspiration from while starting
up your business?
I would say that I have been inspired by several things.
Firstly, from my previous startup, an early e-commerce website that was
translated into 11 languages and had 200 suppliers in 18 countries. I never
learn as much as I do when I run these new business ideas.
Secondly, I would say logic, as there is always logical
behaviour behind any decision and sometimes it can be totally different from
the expected one. But if you dig down deep enough you will see the connection
to the logic for the person in question and it might be different from your own
logic. By building solutions based on logical behaviour instead of trying to
force the user to the logic that you created in your product, you will be far
more successful.
Thirdly, I would say research. As an entrepreneur, you
have to know what research studies say. You don’t need to follow and believe
them, but you should definitely study, understand and learn them. If you don’t
agree, then make sure you can motivate your difference in opinion and
understand why the research studies are wrong.
What personal strengths have been critical for your
success?
Energy, productivity, multitasking and belief. I have a
different type of energy, I don’t need to sleep 8 hours and during my office
hours I am productive every single second of the day. I have been optimizing
these things for many years and found many small things I can do to improve my
delivery capacity.
Working is good, but working without being productive is
worth far less than working on the right things at the right time, prioritizing
everything and changing priorities wherever needed. Things change all the time
and you need to be able to change fast and firmly. For example, when we were
shortlisted by CNBC as one of the world’s 20 hottest startups, we had to tell
our entire team to throw all the previous priorities away and focus on the most
prioritized tasks, based on this incredible news and the current situation.
Everything has loading time, even your brain, so I
multitask a lot. Yes, there are studies that show that you should not multitask
too much but there are also studies saying that you should. There are movements
like mindfulness and so on. I am not against mindfulness, I actually think that
it’s great, but not all the time. You just need to know when to use which
method.
As an entrepreneur you will be questioned, you will be
challenged, and you will be asked stupid and smart questions. If you don’t
believe in what you do and how you do it, then it’s basically no point in doing
it. People who are not entrepreneurs will only see problems and not
possibilites. There will be challenges for sure, but they will only make you
stronger in the long run, and make you learn a lot.
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The Pricelizer team at Internet Discovery Day 2015. |
What is the greatest challenge that you have experienced
in your entrepreneurial career so far?
To have to close down a business. A business for an
entrepreneur is a baby, it really is something that you love and that you put
so much energy into. Sometimes things don’t turn out the way you planned and
you can find yourself at the point where you have to close down your business.
It’s not something you will be happy about, but you will
again learn a lot, which will be of great value to you in your future
challenges. Learning to make the tough decision to close down your business is
also a great power for the future.
What is your view on Global Entrepreneurship Week? Do you
think an initiative like this can boost entrepreneurship worldwide?
I believe that this is of great value to the
entrepreneurial community, but also to raise awareness and interest of others.
There are many wantrepreneurs who need that extra kick to get started.
Initiatives like this are a great way to encourage that.
Entrepreneurs are always in a game of balance. How much
should I spend on the product and how much on product exposure? By attending
events like GEW, Pricelizer gains a lot of good exposure and gets to meet
press, consumers, partners, investors and potential customers.
/Jelena