Motivations
One of my most profound professional insecurities was the feeling that I had never truly created value on my own by initiating a business from scratch. This feeling was accentuated by the fact that many members of my family are entrepreneurs. Their ability to bring ideas to life and create value always inspired a sense of admiration in me. Being part of a larger organisation often made me feel like just another cog in the machine. I believed that if I could establish something on my own, not only would I validate my worth and skills, but it would also bolster my confidence in my unique abilities.
Results
Drawing upon my deep industry knowledge of the auto trade, I identified a unique opportunity. Together with a friend, we founded Dealership.co.uk to tap into this potential, aiming to enhance online sales for automotive dealers. While there’s an extensive backstory to our venture, I’ll focus on the pivotal achievements:
We developed a software solution that improved conversion rates for car dealer websites. This included a streamlined online reservation system facilitated through a straightforward JavaScript tag. Once integrated, dealers had the tools to display genuine customer feedback, employ strategic exit-intent pop-ups, and offer a user-friendly reservation tool for every vehicle listing.
Grounded in industry expertise, our solution was well-received: we onboarded 50 clients, realised a profit, and at our peak, played a role in thousands of car reservations across the UK.
Visit our previous marketing website here to get a sense of the product. We initially called it Dealer 9000, but renamed it after acquiring the dealership.co.uk domain.
Conclusion
Ultimately, our business faced challenges in maintaining a competitive edge. We formed an alliance with a company boasting thousands of customers, seeing an opportunity for them to market our product. While we did turn a profit, the business model proved unsustainable in the longer run. It became clear that website providers wield significant power and influence over their clientele. To our dismay, the company we had collaborated with eventually developed a product similar to ours in-house, capturing the profits for themselves.
This venture, though filled with highs and lows, was a treasure trove of lessons. I found myself navigating various roles - from sales and marketing to support and engineering. Engaging in challenging negotiations and decision-making processes, I discovered facets of my capabilities I hadn’t known before. I take immense pride in our accomplishments and continually incorporate the insights gained into my ongoing endeavors. This experience fortified my confidence and reaffirmed my passion: I thrive when using technology to craft solutions and address real-world challenges.