Posted on Friday, Aug 28th 2020
Europe is facing difficult times. Entrepreneurs are its best hope. BidMotion CEO Daniel Nathan is building a really cool company based in Paris.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Daniel Nathan: I was born very close to Paris. I was born in 1988. My parents were not entrepreneurs, but I always wanted to create my own business. I started my first company when I was pretty young. Our city was not such a great city to live in. To go to Paris, you had to take a train. It was pretty dangerous to take that train.
At that time, it was pretty cool to have patches like Metallica on bags. What I did was I traveled to Paris, bought a lot of stickers, brought them to my city, and sold them 10 times my purchase price. I made a lot of money like this. This is how I made my first €10,000.
Sramana Mitra: €10,000 selling stickers. That’s a lot of stickers.
Daniel Nathan: Yes. I was buying them for €1 and selling them for €10. I was using the market inefficiency to make a lot of money.
Sramana Mitra: Interesting. What happens after this?
Daniel Nathan: When I turned 18, I told myself, “I’m in a city that’s not so good to be successful. I probably need to go to another city where I can study in a very good university.” I went to Rennes on the west part of France. I went there to do prep school. It’s basically a program of two or three years that is usually very hard.
I was excited to be there because it was different from Paris. I was there for three years. Then I went to a business school in Rennes where champagne is made. It’s on the east side of Paris. I always wanted to build companies. When I went to business school, I had to pay for it. I told myself. I’m going to take one class in entrepreneurship. If it’s not interesting, I’m not going to pay for the rest.
I took entrepreneurship. I found that it was not so interesting. So I decided to specialize in Finance. While I was studying Finance, I built the first club in my business school. It was very successful. We started with two guys. After three months, we were 25. We were organizing many conferences and were extremely successful. When you are managing 25 people who you are not paying to organize massive events, you learn a lot on how to manage a team and how to bring the right motivation tools. Money is not everything when you are managing people.
Our conversation continues
here. This segment is a part in the series : Best of Bootstrapping . Bootstrapping to an Exit . Why is Bootstrapping Important? . How Can You Play this Low-Probability Game Intelligently? . Do NOT Go to VCs as Beggars - Go as Kings . Excess is NOT Required for Success . Bootstrap First and Raise Money Later . Some Bootstrapping to Exit Case Studies . The Buy Side of Bootstrapping to an Exit . Blitzscaling vs. Bootstrapping . Bootstrapping to Unicorns More »» . Cinedigm Acquires Bootstrapped 1Mby1M Company Future Today for $60 Million . Mailchimp Bootstraps to $600M Revenue . Bootstrapping from Arizona to $10 Million . Bootstrapped Basecamp Executes a No Nonsense Strategy . How Under30Experiences Bootstrapped to $5 Million . Bootstrapping with a Paycheck . How Algo.ai CEO Amjad Hussain Bootstrapped using Services from Michigan . Seed Investors Who Like Bootstrapped Businesses . How iHeartRaves CEO Bootstrapped a Niche e-Commerce Company to $20 Million . Bootstrapping with Services . 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