The Story of Manaslu Consulting is actually a very sad one. It is the story of my personal failer. I started with a good intention like almost every founder and then failed hard.
How everything started.
The story started when I first attended a Startup event. The event was organized by the Check24 group and one of the founders told their story. For me, it was fascinating, my first time at a startup event. After the talk, there was a nice buffet and some snacks. I talked to a couple of people. New for me was the experience to get a lot of attention, as soon as I mentioned that I’m studying computer science people asked for my number, email or business card (not existing at this time).
One couple especially got my interest. They wanted to do some form of social media, a mix between Instagram and Yelp. Take a picture of your food and rate the restaurant or something like this. This was a perfect fit, not only did I attend my classes in computer science I was also attending a couple of lectures in sociology, my special interest got one about social media. So I liked the idea of test the stuff I learned in praxis. So I met a couple of times with them, started working for them (against shares of course). We started discussing ideas, doing tests going deeper into the analysis of Yelp and Instagram. I kept going on events, met more people and I could have easily worked for 10 startups (for free of course). I thought that is a great chance for me, because if only one of them „makes it“, I will be rich. That is when I started work investing. To make this a little bit more official and also not have a lot of shares
I kept going on events, met more people and I could have easily worked for 10 startups (for free of course). I thought that is a great chance for me, because if only one of them „makes it“, I will be rich. That is when I started work investing. To make this a little bit more official and also not have a lot of shares in my private property, I officially founded the Manaslu Consulting UG.
The peak of Manaslu Consulting.
Business was great, I talked to a lot of startups, heard about a lot of interesting ideas and I had the opportunity to choose, I got a lot more people interested in working with me than I could handle so that is when I first started to think about signs what could make a startup successful and what not, what is a great idea and what is a nice to have, what could go big, what team sounds interesting enough for me to work with them.
I had some good teams in my portfolio, worked in every incubator in Munich, my teams had meetings with a lot of Investors in Munich, sometimes with me, sometimes without. Nevertheless, I was suddenly sitting on the other side of the table, now I was not the one investing, no I was the one asking for an investment, and that looked completely different. Because I did something very bad.
When the story started to get bad.
My goal was to invest in a couple of startups with Manaslu Consulting, not just one, so that is why I decided to specialize on one very specific use case. I only worked with early bird startups, some form of online business, often with a social media context. The teams I worked with had all something else in common, they had no person with a technical background in the team and were in a desperate need for someone to program their idea. That was why they needed me. My idea was to help them as good as I could and leave once they have their first funding, get a payout or at least have an investment in a funded company. BUT as it turned out nobody invests in a tech company if the only person with a tech background is leaving the company once the funding is made. Seems pretty obvious but took me a while to realize.
So a new plan had to be born. How about we find a new CTO/ developer before we ask for funding. Genious?!? No, not really. Ever tried to find a CTO for a not funded company? Now I was in the same situation as my clients were before they met me. Nobody is interested in joining a not funded team on a technology stack that is made for prototyping and the previous developer is leaving. Dilemma. If none of my startups finds an Investor I will never get any payouts 🙁 Seems bad. So I did not even fail my own startup. I also tore down around 5 others I worked for an with.
So why trust a 6x failed startup guy? He knows why startups fail, he failed a lot and knows what to look for.