Episode 16 – Guest, Rasmus Holmgaard and Foodbook

My name is Rasmus and I’m an entrepreneur. As a kid I sold my toys at flea markets, to use that same money to buy new toys in order to sell them once again.

I spend all my time on my project, Foodbook. My team and I are developing an app making it easier to find good food when you are hungry and on a run. We have made exclusive deals with restaurants in Copenhagen, snapped some good shots and will expose them in a Tinder-feed like, for you to swipe through the best meals near you.

The idea came to me, as my uncle was tired of not having an app to handle payments at restaurants, so he could quickly leave if he had to make it to the movies or if the parking was running out. I thought it would get trustworthy reviews, if you handle the payment and by doing this challenging TripAdvisor a bit – A service I’m not the biggest fan of.

I’m lucky being born with a big curiosity. It helped me with a good start, as I got interested in how apps are being made. I contacted all my friends who knew something about apps and then started watching a lot of YouTube. Quite quickly I found out, that programming is not that difficult and many things can be solved with a good computer. (read: macbook)
With ambitions creating the world’s best app didn’t really go well of me programming it. Therefore, I created the prototype and found a developer, who was keen on the idea. It was worth gold being able to create the prototype myself, because then I was able to physically show it and get some feedback. It’s a lot easier for people to give feedback to something visual, than just telling about the idea. Moreover, it forced myself to sit down and think through all the features and the work flow. This is a great way finding out what works and what doesn’t.

Entrepreneurship is differently compared to a lot of other things, as you cannot prepare yourself to it and you cannot practice it before you are in it.
I’ve spend lots of years working on my technique and physical skills as a badminton player, preparing myself for tournaments. Moreover, I get to choose what level I want to take part at. As an entrepreneur you just jump directly into the deep ocean and suddenly you are competing with large companies – In my occasion, I compete with TripAdvisor, Instagram and Facebook. That’s probably why a lot get some scars with their first company, and only those who are able to rise up again will succeed.

Once I took the jump and found out I didn’t have any money, I realized that I got to be willing to read a lot. I needed to give myself a mini education on contracts, accounting, laws etc. I went on google and without any lawyers, I made all the paper works myself. This is why, it is extremely important to love what I do, and doing it with people I have fun with.

I got so caught up by my project, that I almost didn’t make it for school the past year. I have worked on making Foodbook to reality, and letting school being the second priority. I study Economics at the Copenhagen University, an education I at many occasions find a bad match with my personality. It’s very theoretical and a lot of classes, where I just sit, listen and writing notes. Results on assignments are correct or not correct and the creative thinking is non-existing. I’m not good at sitting and being quiet, therefore this learning method is very challenging for me.

Even though I’ve learned much more on YouTube than at school the past three years, I’m going to finish this education, (I by the way believe, that the classic way of educating is out dated in comparison to the rapid development we live in). The positive sides on being at the university, is that I’m learning to be disciplined and getting friends that inspire me. I’m not sure if I get to use my education, but it hasn’t been a total waste of time I believe.

If you feel like being an entrepreneur, you need to remember what I wrote earlier, you get scars. Therefore, I believe it’s a must to start while studying because of:

  1. The earlier you get started practicing, the better you’ll get.
  2. Studying gives freedom to prioritize other projects, and you receive SU (Government Funding in Denmark) while studying.
  3. You won’t get any other period of your life with more freedom. No family to support and prioritize. Starting up takes more time than a normal job.
  4. The alternative salary is low. Once you finish education and get offered jobs with a salary of +40k, you get tempted taking that.

It’s never too late to be an entrepreneur, but if you in a young age feel like starting – I recommend you to do so.
Personally, it is hard to watch my friends making 10k every month for 15 hours of working, while I spend +60 hours and still need to fund, but I believe this will turn around in the future.
I see my business as an education and investment in myself, and of course the chances are there the app is going well and economic situation turns around too.
– If you are looking into making easy money, you probably should pick something else than this.

For me, Rasmus and Foodbook are one unit. When things are going downhill for the business (They will surely be there), it feels like going downhill personally as well. We have been so close launching the past months but have not done it yet. I think it might be caused by, my fear of how the product will be received. Even though critics on the app is not personal, it feels personal. I want to forget that fear the coming month, this app MUST be launched. The app will not be perfect and as I wanted, but I need to get some opinions if people like it or not, instead of listening to my inner dialogue.

We start in Denmark, but hopefully can grow across the borders soon.

Thank you for reading.

Regards, Rasmus

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: