Editor’s Note: This is a new Q&A series from StartUp Beat that features entrepreneurs who have successfully guided their startups (or multiple startups) to maturity. It is a complement to StartUp Beat’s coverage of early-stage startups and an effort to provide further insight into the experiences of tech entrepreneurs.
SUB: What was your first entrepreneurial venture?
King: I started a tennis camp when I was 18. It was a lot of fun. I got 20-25 kids per week for 6 weeks. We picked them up and dropped them off every day and worked with them from 10am-4pm. I was hooked after that experience.
SUB: What prompted you to start GoCharge in the first place?
King: My phone was always dying while I was out. My friends had the same issues. I knew there was a demand for it.
SUB: Was there a point at which you knew GoCharge would hit it big?
King: I was recognized as a 25 under 25 Entrepreneur by BusinessWeek. That, and when Bacardi launched a 50 bar NYC network with us.
SUB: Was there a “tipping point” when GoCharge really picked up steam and where it started growing exponentially?
King: Not really. It’s been a steady growth since we started.
SUB: What were the first steps you took to establishing GoCharge?
King: Think a lot about the business plan, and then meet with investors to gauge interest. Luckily, those meetings turned from ‘learning’ to them actually wanting to invest.
SUB: If you had it to do over again, what would the first concrete step to establishing GoCharge have been?
King: Probably to focus on one market at a time, and execute it effectively before moving to the next market. For example, get machines into as many bars as possible, then move to coffee shops, etc.
SUB: What were the most significant obstacles to growing GoCharge to maturity?
King: Getting the right team together; Capital cost to build machines.
SUB: What kinds of outside funding did you raise?
King: About 2.5 million from private investors.
SUB: What was the metric/milestone that indicated to you that GoCharge had moved past startup stage?
King: Major brands like AT&T, Sprint, and Bacardi working with us.
SUB: What were the most important lessons you learned about entrepreneurship while building GoCharge?
King: That it’s a journey. Very tough. And you have to have stamina to make it. But it feels really good once you do.
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