It has been more than a month since I finished the life-changing Innovation Center of Kosovo (ICK)-led Founders Start-up Bootcamp.
This is a period where the entry idea of the business you had going-in gets questioned over and over again: Is there similar idea out there/has it been done, is it good/effective, can it actually sell/find a market for it …. the never ending questions. It is sort of similar like when you want to start a family and start considering whether you will be a good mom, can you actually cook!?!, are there good schools in your neighborhood ……pffff…who am I kidding of course I never planned so thoroughly to have kids I had a shot-gun wedding so that explains the planning on my part.
On the business side though to get to the next level I had to re-think and re-shuffle the business idea, prepare and give a presentation to a group of selected external panel in ICK in what they call a presentation Pitch.
For those like me who heard about this for the first time-> Presentation Pitch – is usually a 10-20 slide presentation designed to give a short summary of your company, your business plan and your startup vision.
What it had to include was:
a. Introduction – which should be able to catch your audience’s attention from the get-go.
b. Team – Not every Pitch includes a Team slide, but it can be extremely useful. …
c. Problem – This is a vital slide in (almost) any Pitch Presentation. …
d. Solution – This slide needs to be as concise and clear as possible. It should answer directly to the problem. Always trying to avoid offering different solutions.
x. (I got all of the above from the ever helpful ICK team who also suggested I should watch the reality show Shark Tank)
I cannot count how many times I have done presentations both in my academic and professional career, but this was like no other. It had to be 5 minutes strict and hit all the points/letters I mentioned above.
Then I had to register my start-up idea as a business. This is very easy in principle and in Kosovo it can be done online or at the spot in all three languages (Albanian/Serbian/English). All you need with you is a copy of your ID card/passport, fill a 5-page form, select the activities of your business you intend in this numerous exhaustive list from cultivation of crops to repairing computers and everything in between. Nowadays you also need a mask, disinfectant, warm gloves, hats and very warm boots and coat cause its Covid 19 time and you have to wait in line outside….and if you are like me you need someone to drive you there also, because I don’t have a driving license cause I am only 43 years young.
Once there I learned the hard way that you have to pick the type of business you are registering. Will you run an:
• Individual business
• General partnership
• Limited partnership
• Limited liability company
• Joint stock company
• Foreign company
• Agricultural Cooperative
These are the choices you get and depends on which one you chose you have different legal and tax challenges/opportunities.
Of course, I learned this from other two brave ICK applicants who told me this while queuing up to register their business. Again, you can always rely for any kind of information and help from ICK family wherever you encounter them.
So, there I was packed with information and documents, freezing to death and ready to go in and register my business in the Covid-times in the only ‘shallter’ which was opened in ARBK (due to Covid-19 all administration staff work with reduced staff). Once I got in ‘Mr. M’ from the only ‘shallter’ that was working made sure we had an informative small talk while he is scanning all your applications and signing what you should before application gets sent to some legal board and you are sent a reply back in 24-48 hours….
Now I am officially a Mompreneur – a female business owner who is actively juggling the role of mom and the role of entrepreneur (also my other job that pays the bills); on lockdown every day from 7PM because of Covid 19 having some time to think and plan and develop …. and none of this would be possible without that drive and support coming from ICK.
To other struggling fellow-Mompreneurs out there keep going, have a strong coffee, and always remember that it is a verifiable fact that kids will grow up one day.
……and on that note Merry Start-uping, and Very Happy New Ideas.
Mimika 43 year-old mother of 2 boys – dreaming of making it in the start-up world one day