HerSmile: “One Thing That Stops Entrepreneurs Is Lack Of Finance.”

Describe HerSmile in 50 words or less.

HerSmile is an award nominated, by invitation, boutique dating site. The first and only relationship site to successfully assure the intention behind an introduction:

https://youtu.be/tlnpmmErqAU

Why did you decide to pursue your own dreams rather than someone else’s?

At 18, with very little money and a one way ticket I went to Moscow to study Russian. 3 months turned into 3 years. By the time I had graduated Moscow State University I knew exactly what I wanted to do.

One of the main things that stops entrepreneurs from working from themselves is lack of finance, and I was no exception. At 21 with only an idea; I needed money, I needed to work and I needed to save. I spent the next 7 years working a multitude of jobs, saving 1/3 of my income. Setting aside enough money so I could build what is now HerSmile.

Why is HerSmile unique and how does it work?

On HerSmile, women pay a monthly subscription (£12) letting them initiate contact with a man at any time, receive messages from men and review the possibility of contact. Men, who have no subscription, simply buy introductions/credits (£4 with a minimum purchase 3).

He confirms his interest in a woman is genuine by using one credit to send his first, introductory message. Her ‘Smile’ lets him know the interest is mutual and he can contact her further. If she doesn’t reply, we’ll return his credit for him to use again in future introductions.

This way she’s never bombarded with unwanted messages and because he invests in an introduction she’s assured of his commitment – specifically to her. From a safe and non-pressured position, she can decide where it goes and since men only hear from women who reciprocate their interest he wastes no time and money.

By protecting women online and ensuring men aren’t misled we can considerably reduce the time taken for both sexes to meet a genuinely suitable partner.

7 years from now: How did your startup change the world?

For me this isn’t a question of 7 years but a question of 70 years from now…

To change the world on a global scale you have to start on a molecular level. So user by user, we will find each of our members that one amazing person they fall head over heels in love with. By introducing you to the person you want to spend the rest of your life with we change your world and doing this enough changes our world. It’s with this philosophy that we can make HerSmile the hub our children and grandchildren go to find their prospective partners.

In what ways do you measure your success and how do you make sure you don’t lose track?

The blueprint for HerSmile was simple; address the core issues people face when meeting online. I setup the company to bring real results to an industry that, for all its financial success, is for many users really no better than a lottery.

So for me success is measured by user results. Marriages, love, weddings, relationships, future – if we are the driving force behind these key words I know I’m on the right track.

Describe your typical working day from coming to the office to leaving it.

From the moment I get up to the moment I fall asleep there isn’t a second to lose. I often work from home to save time. I usually get up at 8 am and immediately start work. Engrossed I rarely eat my first meal before 1 pm and always whilst working. At 7.30 pm I hit the gym. I come home, cook and continue working until 1 am. Before going to bed I chant or mediate.

Overall, I dedicate 17 hours a day, 7 days a week to my work. Yet it still isn’t enough to get everything done…

Bootstrapped or financed: What fuels your startup now and what will in the future?

For seven years I saved one third of my income. When I started HerSmile I was told there was no way we could afford what I wanted to do with the amount I had saved. So, I simply had to make it happen.

It definitely has not been an easy route to take, but HerSmile has been entirely self-funded; we have no third part debts and I have retained 100% of the shares.

A lot of our initial focus has been on user experience and what/where we can improve. With a limited marketing budget we’ve been fortunate enough to develop a solid user base that continues to expand. We now need to build on that initial success.

In the coming months, I plan to approach investors seeking investment to build our business.

What were the biggest challenges you faced building your startup?

Wow, what have we not faced! Some of the obstacles we’ve come across really have been unbelievable but in each instance we’ve found a solution from technical to budgetary. Those despair moments built a resilience of survival. A lesson no amount of money can buy. Just after going live the sign up videos went down. The videos are vital to the site. My developer was away on holiday and the company that had a backup of the code had closed shop for Christmas. It really was terrible timing. I started to panic. I emailed our video hosts (Vimeo) customer service. Two days later with no result and in desperation I cold called Vimeo’s CEO in New York. Suffice to say it was resolved that afternoon.

I believe the core reason we’ve overcome our obstacles (so far, he says touching wood) was, through communication. Through real communication we got to the heart of the real reason behind the current market issues. There is always a reason therefore there will always be a solution. You just need to know what it is.

With ferocious competition and a booming trend to build new companies: How do you make sure you don’t get lost in the shuffle?

Online dating is huge. The industry is worth over 2 billion dollars, growing at 5% each year they expect by 2040 70% of us will have met our partners online. Yet, for many users the results are no better than a lottery. Profiles are can be misleading and intention deceptive. With all the chaos of a cattle market; I felt there had to be a better way to improve this billion dollar industry.

Currently there are 80,000 apps/sites to choose from worldwide. So why do we need another? It’s hard not to agree. With a new dating app launching each week offering matches from the known to obscure, why is finding love still more like alchemy than chemistry? There are endless beautiful theories, but no consistent formula that leads to a golden outcome.

I believe if you want a successful formula you have to account for the evolutionary drives behind mating and many dating apps, although entertaining, simply do not fulfill the core purpose of why most people use online dating – to find a relationship.

HerSmile was made for relationships by addressing the fundamental issues people around the world face when trying to meet a suitable partner online. We haven’t created a clever algorithm to match people based on their taste in Burgundy wines or tried to gamify love through extensive psychometrics we simply looked at the problems and created the solution.

What do you look for in team members?

Creativity, loyalty and honesty.

Creative minds make you and your business stand out from the crowd. Rarely do they follow the corporate trends. These guys create the trend. Like a viral video the more creatively engaging they are the more views your brand will get.

Unconditional loyalty is so special. It can’t be bought, it wont waver and it sticks with you throughout. It’s these guys that make you feel safe when you have nothing. They always have your back and have absolute belief in you and your product. Very rare and incredibly powerful.

For me there is nothing more crucial than knowing unequivocally where someone is at. The only way the business can improve is by knowing what isn’t working. You need to be able to rely on your team to give it to you straight and they need to feel safe to say it. Criticism from vested partners can only come for a place of love for you and the company. Listen to it and take action.

Why would a talent join your team?

Today online dating is the fastest growing online market in the world. As a founding partner on the first site to offer a real solution to the issues millions face fulfilling the most natural of human instincts, your work would be at the forefront of a revolution. Personally I can’t think of anything more worthwhile and exciting.

What was your most memorable moment so far?

It has to be the Online Dating Awards. In December 2015 less than a week before going live we were nominated: Best New Dating Website and Innovator in the Dating Industry. It was overwhelming competing against industry leaders being so new to the market. It was an incredible evening and HerSmile proved that as long as you have a solid product/concept you don’t need to be a massive player to get recognition in the industry.

Though the dating awards were amazing I know there will be nothing like the feeling of when we make an introduce that leads to our first marriage.

What advice would you give fellow founders for their startup?

If you imagine your life as a pyramid and at the top sits the singular most important thing in your life, whatever that maybe. When you are a start up there can only be one thing at the top of that pyramid – your company.

Ask yourself: What am I prepared to give up? Because whether it’s your social life, love life, sport and or family; to really succeed nothing can be more important to you than your business.

If you can you see yourself doing something else, this isn’t the right time. It’s single minded focus and ultimate dedication that will get you through the times where others give up.

 

Editor’s Note: HerSmile has exclusively offered 500 StartUs readers complimentary accounts on HerSmile. No catch no pay later. Simply free. To receive a complimentary account simply click Ask@HerSmile.com and type “StartUs”. Send, post or retweet this article to your friends and followers so they can also receive free accounts.

 

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