Mike, what’s Spacer all about?
Spacer is the marketplace for storage space. We connect people who have space to people who need more of it. Our customers often refer to us as the ‘AirBnB of storage’.
How did it come about?
It began with an idea, many late nights of research, many coffees, a few beers, much brainstorming, analysis, and eventually creating the marketplace to connect our hosts with potential renters. It’s a combination of hard work, and thinking outside the square to build a product that our customers want.
Both Roland and I are extremely passionate about the sharing economy, and saw a gap in the market for convenient, affordable storage. We were excited about the prospect of tapping into under-utilised assets all around us (i.e. garages) to fill this need in the community, and empower those with spare space to make a handy passive income.
It’s a combination of hard work, and thinking outside the square to build a product that our customers want.
What’s the biggest win you’ve had so far?
We’re proud to be building a business that empowers everyday Aussies to make an additional passive income. It’s touching to hear stories from our hosts how this additional income goes a long way to making their lives better for them and their families. We’re also humbled to be named the #1 startup to watch by Business Insider earlier this year.
And your biggest mistake?
We’ve made a few! Going out too big with an early marketing campaign was wasteful. We’ve learnt to start small, test and iterate. Mistakes are an important part of building any business, and of course, taking the learnings from these experiments. A combination of pushing and patience is key.
How’s your experience been funding Spacer?
We’ve used a combination of our own funds and raised a seed round from angel investors. We’ve had a great response from influential people who believe in our vision and team.
Mistakes are an important part of building any business.
What needs to change/improve for Australia to become a leader in tech and innovation?
It certainly feels like Australia is well on its way to becoming an innovation/tech leader. We need to continue to build a strong education system that supports this ecosystem, and continue to foster an ethos of nurturing and supporting startups. We’ve produced some amazing global companies in the tech space like Atlassian, Campaign Monitor, Invoice2go, the list goes on…
Do you have any tips for acquiring new users and/or scaling your business?
There’s no silver bullet. Learning by doing and testing different channels helps to understand what really works for your business. Once you find those successful channels, hone in on them and scale them up.
What would you be doing if you weren’t doing this?
Working on another startup. Coming up with new startup ideas and growing them is my passion, I wouldn’t want to be doing anything else.
If you could turn back time, what are two things you’d do differently?
Worry less and trust my gut instinct.
Learning by doing and testing different channels helps to understand what really works for your business.
What’s the best advice you could give to someone starting out?
Stay true to your vision and surround yourself with people (partners, team, investors, service providers) who are passionate and committed to that same vision. It’s incredibly powerful what you can achieve when everyone is truly aligned.
What does a typical day look like for you?
Like most startups, each day can be quite varied from working on the technology, executing marketing tactics, talking with customers, meeting with potential partners, planning new features, analysis, and generally working out what to prioritise in order to create a better experience for our customers.
Do you believe someone with no business or entrepreneurial experience can succeed in the startup world?
Entrepreneurs think about the world in a way which greatly assists in building a business from scratch – often they are slightly mad! Business-minded people can greatly assist in scaling or commercialising a business once it has a level of traction, but getting the fuse lit is a very different skill-set. Startups are certainly not suited to everyone. I’m fortunate to have Roland, my business partner who is extremely commercially astute. We make a great team (very yin and yang).
If you could go into business with anyone (dead or alive), who would it be?
One day I’d love to go into business with my son. He’s only two years old right now. I’ll work for him!
Competition forces you to create a better customer experience.
If you were given $1M on the proviso that you spent it all in one day, how would you spend it?
I would setup a trust fund, with the beneficiaries being charities close to my heart. The fund would invest in the best startups and scale-ups in Australia, and distribute returns to these charities.
How do you deal with competition?
Competition is good. It forces you to create a better customer experience and ultimately build a better business.
Tell us one thing about you that most people don’t know about you.
Singing is my yoga (and no, I don’t do karaoke!).