Many people have the seed of an idea planted in their minds. The difference between most people and the entrepreneur is that the entrepreneur will bring that seed to life in the most vibrant way possible. This is through hard work, yes, but also the ability to think differently, to see potential in something that other people don’t. Luca Rossi is one such entrepreneur. Originally from Italy, he had been working internationally for over a decade when he came up with the idea for his business during a routine market behaviour analysis at an investment firm.
We caught up with him to talk about inspiration and how to turn the seed of an idea into a blossoming, viable business.
Have you always had a passion for entrepreneurship?
I’ve always been drawn to technology and entrepreneurial innovation. I founded my first tech start-up, Bullective, at 21. My background is mainly in business administration and finance and I’ve been working internationally for ten years, at prestigious firms such as KPMG, Frankfurt Stock Exchange and Rothschild & Co. But my passion for technology and innovation has stayed strong and I’ve worked as a consultant for various start-ups as well as being a member of Zug Cryptocurrency Association and I’ve been a business partner in blockchain-related projects.
For me, entrepreneurship is about four core values: creativity, freedom, leadership and persistence. I see these qualities in every entrepreneur and they have served as a source of inspiration for me throughout my career and, more recently, when I founded Wingram.
How did you come up with the idea for Wingram?
I came up with the idea while I was working for an investment firm. Part of my role was to perform market behaviour analysis, a normal day-to-day task. During one of these analyses, I came up with the idea for Wingram after I noticed an unusual correlation between market capitalisation and the revenue generation capacity of tech companies in the social network area. In practice, companies like Facebook, Instagram, Tinder etc, are rarely evaluated based on their EBITDA or revenue-generation but mainly on the number of users they have on their platform. This got me thinking about a model where users can be a source of revenue for their social network providers but they also gain from the activity they generate.
You mentioned four core values. Can you tell us a bit more about those?
You need creativity to be able to make something truly original and to then take that unique, one-of-a-kind concept and turn it into something that your customers will love. I am a huge believer in creative potential and that there is art and beauty in every product – from a piece of code to a simple marketing pitch. It’s up to us to find that beauty and make our customers see it too. So, for example, with Wingram, I saw the ineffectiveness of advertising on social media – from the lack of value it brings to users, to the invasiveness of the adverts themselves – and I wanted to create something that rewarded users and helped companies. There is so much creativity in developing an elegant solution to a problem, especially when no one else has seen it.
This is strongly linked to the idea of freedom. Creative freedom and the freedom from the external expectations of others. You have to believe in your product wholeheartedly and not worry about the opinions of people who don’t fully understand it, or don’t understand the leap of faith that’s sometimes required.
Leadership in the entrepreneurial field is totally different to, say, a managerial position within the hierarchical structure of a bigger company. Leadership in start-ups is a matter of trust more than a matter of corporate titles. It’s the capacity to build a business culture with a set of values that are clear to all stakeholders and making sure that the other founders and employees all fully trust them. One of the best things about my job has been to create our own culture and build our own set of values from inception. You should build a business to create value, not for your ego. Do whatever it takes to increase the value of the company and not your personal interests.
Which brings me onto persistence. During the life cycle of a new business, you will bump into enormous difficulties and it’s fundamentally important to remain on course and keep going. For me, success is defined by knowing that you devoted all of your energy and passion to your dreams, no matter the size of the business or the sector.
Wingram is a social network platform for Giveaways. Using an innovative mobile application we allow companies and small producers to sponsor their product on our platform, and we reward users for their photo contests and activities. This new B2C advertisement concept introduces multiple solutions which aren’t present today on modern social networks when it comes to advertisement and marketing. The app is currently available on iOS and can be downloaded from the AppStore