Frida is a business coach at Innovatum Science Park in Trollhättan, where she supports start-up companies and creates conditions for them to succeed with their business idea.

Frida, what do you think is most important to create the right conditions for a business idea to succeed?

There are many factors involved in building a scalable company with growth and profitability. The most important are

Uniquebusiness idea - Your business idea should be unique and fill a market need or solve a problem in a new way. It can be a new product, an innovative service or a significant improvement to an existing idea.  

Customer validation - It is important to do a thorough market research to find out if there is a need in the market for your product or service. A common mistake many people make is to start producing or building their service before determining what customers are looking for.  

‍Business plan - You should have a business plan that describes your business idea, target audience, competitive situation, market size, marketing strategy, sales forecasts and financial plans.

Adaptability - The market and business environment is changing at a rapid pace, it is important to be flexible and constantly adapt to new circumstances and challenges.   

What do you bring to your role as a business coach?

In my role as a business coach, I follow the companies from early idea to a scalable company. My role as a coach changes along the way, in early phases there is a strong focus on customer validation, IP protection, building teams and opening doors. Once the company has found its target group, a lot of focus is placed on the offer, pricing and packaging in combination with working on the financing strategy. Most companies need to seek external investment to be able to afford to scale their company.

Where do you find your driving forces and have business and entrepreneurship always been close to your heart?

I am driven by sharing my knowledge and helping others move forward, both in my role as a business coach and in private contexts. I started my first company at the age of 28 and have since then started a number of different companies, sold companies and invested in companies. I never thought about becoming an entrepreneur, I think that gene is in my DNA.  

If you were to give three tips to someone who wants to realize a business idea, what would they be?

The most important thing to think about is what drives you. It is important that the business idea is something you are truly passionate about. You should be aware that in the beginning it requires blood, sweat and tears and that it can take a long time to start making money from your business.
Once you have decided that you really want to invest and believe in your idea, the first step is always to validate customers, i.e. you should investigate whether there is a market that is as keen as you are.

 

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