SongStax is a system and method of exchanging music files using a stock exchange pricing model with a built in social media aspect.
What was holding you back from being an entrepreneur?
First off, thank you Murugan for taking the time for attending my presentation at one million cups and interviewing me. As for the question, I’d say the hardest part about getting started is the cost and figuring out how to get started. I think the best thing to do in that regard is to set up a really good plan and get people excited about your idea/business. That starts with you being excited and enthusiastic about it since no one else will be if you aren’t. I was only in my senior year of college when I started SongStax, so I obviously didn’t have much money to work with, but I set up a cool plan and vision of my product so people started to take attention to it, was able to raise some money and get started.
What was your worst entrepreneurial moment?
There are probably too many to just pick one and some that I most likely wouldn’t share publicly. Being an entrepreneur is certainly a journey and comes with lots of highs and lows. If I had to pick one moment that sticks out to me, I’d have to say it was when I attended a Startup Weekend in NYC which was actually a great event but I was really broke at the time so I booked the cheapest hotel I could find in Chinatown. My room was the size of a closet and without giving too many crazy details it safe to say that experience was pretty miserable and I didn’t sleep a wink. After that I said to myself there is nowhere to go from there but up and that someday I’ll be back at that same event as a presenter/speaker, which I haven’t done yet but I’m still shooting towards that goal and hopefully will accomplish it soon.
How did you gain clarity and know what steps to do next?
You really never know exactly what the right step is, especially as a young first time entrepreneur such as myself. You basically have to trust your instincts and do what you think is right. Seek the advice of any mentors you have and lean on people that know more than you do, while still staying true to yourself. Luckily for me I work with the good people at Syracuse Technology Garden and my guy Paul Brooks from LaunchNY, so that helps a lot. Apply to as many programs as you can, and don’t fear rejection. A lot of people doubted/still doubt me because I don’t have the technical skills or experience that they usually look for in a startup founder, but you can make up for that with hard work, passion, dedication, ideas, perseverance and being charismatic and enthusiastic about your product helps too. You also have to be a little crazy to be a successful startup entrepreneur since there’s so many rough times and sacrifices made, but hey it’s the dreamers that end up changing the world.
What did you get out of presenting at 1MC?
I got a lot out of presenting at 1 Million Cups. It was just great experience as far as presenting your product to a live audience and responding to questions and criticism on the fly. The people there also had some really great ideas and advice that can help me a lot going forward. I also made some great connections to people that attended and people they know that they connected me to who could potentially be very valuable connections going forward.
How can someone reading this help you?
I’d say they could help mostly by keeping updated on SongStax by following us on social media: our facebook page, on twitter, join our mailing list by visiting our website, and of course by using SongStax when it releases next year! We are currently revamping SongStax with an awesome new team and it should be something special. Also, if you want to speak to me personally about SongStax or apply to be an artist on Stax you can email me at firstname.lastname@example.org.