What was Michael Acton Smith’s advice for entrepreneurs at ESBC?

What was Michael Acton Smith’s advice for entrepreneurs at ESBC?

On February 27th I was tweeting in my official capacity as social media consultant for the Evening Standard Business Connections club at their Business Connections event entitled, ‘The Making of a Moshi Monster’. The featured guest was Michael Acton Smith, the creator of Moshi Monsters and before that the founder of a successful internet start up in the late nineties called Firebox. It was an amazing and inspirational night and the packed audience went away entertained and uplifted. What had they learned from Michael? I realise that many of you outside of London and outside of the UK were not able to attend so I have captured many of his key points in the tweets that I posted on the night repeated here for your convenience.

#MichaelActonSmith ‘ I will be talking about my entrepreneurial journey…I want to share the lessons that I’ve learned…’

On the internet in the nineties…
#Firebox -‘ The downside of the internet in 1998 was that there weren’t a lot of customers.’ #MichaelActonSmith

On Firebox and early success. …

#MichaelActonSmith – ‘Make sure you choose a good name for your business and one that is not associated with a porn site’ 🙂 #Firefox not Hotbox

#Shotglasschess – Was a huge early success for #MichaelActonSmith and helped #Firebox grow.

On the character traits of an entrepreneur

Q What are the main #character traits for an #entrepreneur ? A – ‘Perseverance, strong minded, being playful, passion.’ #MichaelActonSmith

On being a successful entrepreneur…

‘Ideas are ten a penny – it’s the execution that matters and the best way to learn is to dive in.’ @acton #MichaelActonSmith #ESBC

On being an entrepreneur now…
#MichaelActonSmith ‘There’s never been a better time to be an entrepreneur.’ #ESBC

On start up teams…
#MichaelActonSmith – ‘You do need one of the early startup team to be technically skilled.’ #Techexpertise needed for #startups

On keeping Moshi Monsters fresh and relevant…

‘Retaining a sense of playfulness is essential to the continued success of #MoshiMonsters ‘ #MichaelActonSmith

On not selling out to American companies…

Q – How do you know when to sell? A – ‘We need more entrepreneurs in Europe who don’t want to sell out to American companies.’ #MrMoshi

On Lady Gaga…
#MichaelActonSmith ‘ Don’t mess with Lady Gaga! ‘ in reference to a Moshi creation #LadyGooGoo. A character that had to be withdrawn.

On funding

#MichaelActonSmith – mentioned this US website that brings start ups and investors together. – https://angel.co/ @acton

On educational products…

Q- Can educational products be as huge as #MoshiMonsters ? A – ‘Yes, there is huge opportunity in that area.’ #MichaelActonSmith

I hope this has given you a taste of the evening. The next event will be announced fairly soon. Please follow @es_bc for the latest updates.

We hope you have found this information inspirational.

Best regards,

Mike Pitt – Founder & CEO of Marketing Fundamentals Ltd

Marketing Fundamentals Ltd’s contact details – If you’d like to discuss any aspect of your marketing requirements feel free to give us a call on +44 (0) 845 226247 or drop us an email via mail@marketingfundamentals.com – We look forward to hearing from you.

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Founder of Marketing Fundamentals Ltd, Blogger, Author & Content Creator