Thomas Kjeldgaard is an online entrepreneur who co-founded Pagemodo, which was acquired by Webs in 2011. Since then, he founded and is the CEO of SplashPost, a tool that helps Facebook Pages turn ‘likes’ into sales. Thomas is publicly known for his conference lectures and addiction to designing UI and UX.
Who is your hero?
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
Develop something that you can sell over and over again. Create a business that is not dependent on you!
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
Holding back with marketing. Marketing starts day one. As soon the idea is on the table the marketing process starts — not when the product is ready!
What do you do during the first hour of your business day and why?
First, I get an overview of the day and handle any crucial user issues. Customer service is crucial to success and many businesses don’t realize that.
What’s your best financial or cash-flow related tip for entrepreneurs just getting started?
Develop something scalable based on a recurring subscription model. This puts money in your pocket each month = cash flow.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Focus. Track everything in your business to know where you make money and what costs you money. Understanding your users and customers is crucial for success.
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
When users tell you they are happy with your product, you know you are making a positive difference in their life. They will then be happy to pay you — and if you’re lucky, you make a nice exit from your company and cash in on that.
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab , a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.