Five questions for: Markus Stripf of Spoon Guru

Spoon Guru helps people find the perfect foods for their dietary needs and health objectives.

979-Stripf-634

Markus Stripf, co-CEO and co-founder of Spoon Guru

What does your business do?

Spoon Guru helps people find the perfect foods for their dietary needs and health objectives. Using a combination of artificial intelligence and machine learning with nutritional expertise, we've built a food search and discovery platform that determines every product or recipe's suitability for each individual. We started the company because we observed the frustration that people with specific dietary requirements encounter on a daily basis.

What is your greatest achievement?

Our three greatest successes have been getting investment from people who believed in our mission; building a hardworking team of young people keen to make their mark in the industry through innovation; and licensing our technology to major retailers.

What has been your biggest challenge?

The highs and lows are much more pronounced when you operate a startup. Cashflow management is always a challenge as you have to function on a tight budget. Unexpectedly slow sales cycles can be difficult to navigate, as is selling change in conservative markets.

What are your plans for hitting your targets?

Firstly, expanding the team to bring even more innovation into the company. Secondly going into other territories. In 2019 we expanded into the United States, the Netherlands, Australia and New Zealand, andin 2020 we're aimingfor Asia, SouthAmerica and beyond. Thirdly, building more game-changing products on top of our pioneering platform.

What's the one piece of advice you'd give fellow entrepreneurs?

Always start with the why, not the what. Remember why you have decided to leave the safe environment of a permanent job to embark on this adventure. Don't lose sight of what droveyou in the first place. You have committedto solving a real problem. Not many people have the courage to do that.

Recommended

Dividend payout advantages drain away for small-business owners
Small business

Dividend payout advantages drain away for small-business owners

Life is getting harder for sole traders who opt for dividend payouts rather than taking a salary from their business.
17 Sep 2021
Cybersecurity is crucial for small businesses
Small business

Cybersecurity is crucial for small businesses

Small companies tend to neglect the defence of their digital data, but the risks are very high, says David Prosser.
6 Sep 2021
Time for small businesses to pay back emergency state aid
Small business

Time for small businesses to pay back emergency state aid

Small companies struggling to repay emergency loans have several options, says David Prosser.
21 Aug 2021
Government launches final Covid support scheme for the self-employed
Small business

Government launches final Covid support scheme for the self-employed

A fifth and final round of the government’s aid scheme for the self-employed, with grants of up to £7,500, has been launched.
6 Aug 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
How to stop recurring subscriptions becoming a drain on your money
Personal finance

How to stop recurring subscriptions becoming a drain on your money

Tracking and pruning subscriptions isn’t as easy as it sounds. Here's how to take charge.
14 Sep 2021