The world of small entrepreneurs

Dražen PrimoracTeam

We find Model Creator a really cool idea and we are very much enjoying the journey which so far included model prototyping, marketing efforts through our website and social media and software development which has just recently started. We are, of course, also very much looking forward to the next steps. 

However, there is another part to the story that is linked to admin challenges of small entrepreneurship. For us this is a brave new world which, as we are learning, can sometimes be extremely frustrating and often not very logical. Below are two experiences of which one is linked to Spanish regulation and the other one is global.

When we started Model Creator we wanted to open our account in a modern online bank but quickly found out that you can only open an account with an online bank if you already exist as a business. However, there is a catch 22 here. In order to register yourself as a business you need to have a bank account opened which can only be done with one of the brick-and-mortar banks. In addition, the amount of information and proof that you need to provide to online banks is ridiculous having in mind that you are just starting a business. I am sure these rules are in place to reduce fraud; however it is also clear the rules were written by someone who has, never in his life, started his own company. 

Initially, we used a lot of free online services as many entrepreneurs do to save money. During that period we came to have some questions for the global provider whose products and services we were using. However, it was impossible to find a person to talk to, and all the customer support was oriented at an endless list of FAQs. As we moved on with the project we decided to move to a paid service, as we needed additional services, and suddenly there was a live person during the sales process only to disappear again once we have signed up for the service. Back to FAQs and dead links...  How frustrating!

Don't get us wrong, we are enjoying the project so much and we look at all these situations more as talking (and learning!) points, but you definitely have to arm yourself with patience.

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