I was in Dublin a few weeks ago for Web Summit and randomly bumped into these guys at a “speakeasy” event held by Powers Whiskey. After chatting for awhile, it dawned on me they were avid Foundersuite users which was very cool to discover. Awesome guys, and awesome product!
We are pleased to bring you SOTW #20: Shoprocket
In just one sentence, what is your company / what do you do?
Through a single line of code, Shoprocket adds eCommerce to an existing website in just minutes.
Briefly, what makes you unique / different / special?
We have a big product in a big market, so we’re unique in that we can make a very big splash in unchartered waters. In comparison to competitors, we only charge a fixed 2% transaction fee, and have industry leading basket abandonment rates due to our frictionless universal checkout.
What do you love the most about running a startup?
We love creating something completely new, and seeing people genuinely enjoy using our product. We enable anyone to sell anything. Our customers range from a business that sells hairdressing courses to a porter service that rents out forklifts.
Just as importantly, we love creating an environment in our company in which people love to work. Our company is growing before our very eyes, and we’ve been fortunate enough to experience every stage that a young company goes through. As our company grows, so do we as individuals.
What is the hardest or most surprising part of running a startup?
We’d have to say the hardest part is the volume of work. There are only a certain number of hours in a day, and it’s hard to fit everything in that needs to be done. We have a never-ending list of things that need doing, prioritising and deciding what we do next is often a daunting challenge. But, this also means that everyday is exciting. There’s no greater reward than seeing our company develop.
Do you have any success stories (big or small) you would like to share?
We’re proud to say that we are the only startup to skip the formal Seedcamp application process. It’s reassuring that Seedcamp instantly knew that our idea was a hit and they immediately wanted to accept us into their program.
The last two days of Seedcamp week were spent presenting to industry experts and potential investors. It was incredible presenting to hundreds of people and the feedback we received was fantastic. But also, seeing our customers grow thanks to Shoprocket is incredibly rewarding.
These things stick in my mind because they show the progress we’re making-- both externally with the problem we’re solving, as well as internally from the success of our own customers. In terms of recent milestones, we’ve surpassed 5,000 customers, processed our first million dollars in transactions, and are processing 15 million requests per month.
How, if in any way, has Foundersuite helped your company?
Foundersuite has helped us tremendously. It cuts down the amount of time of who’s in and who’s out when fundraising, and we don’t have to manage Excel spreadsheets and chase emails. This may sound cheesy, but we don’t understand why you’d want to manage the fundraising process any other way.
Finally, what is your best tip, hack, or piece of advice for entrepreneurs?
Our first piece of advice is that you’re not alone. Elon Musk says, “Being an entrepreneur is like eating glass and staring into the abyss of death.” He’s an incredibly successful guy, but this quote is a reminder that he shares the same struggles that every startup founder does. Just remember that you’re not the only one facing these obstacles.
Secondly, remember when you’re starting off, begin with the basics, such as what are you doing and why. Who is your market and why do they want your product? Then think about where in the world they are and how you reach them.
Depending on what product you have, think about pricing and branding. People don’t just buy goods, they don’t just buy services, but they will buy into a brand. They buy into a company. Start with your market research, you need to understand what the opportunity looks like, and how best to succeed. Then just do it.
We are looking forward to big things coming from our friends at Shoprocket!