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Thursday, 12 March 2015

Nick D’Aloisio On What It Takes To Get Your Big Break As A Young Entrepreneur

Nick D’Aloisio sold Summly, a mobile news summarization app to Yahoo over a year ago for $30 million at the age of 17. The Australia-born British programmer wrote the app in his parents’ bedroom at their London home when he was just 15. Read his thoughts on what it takes to get your big break as a young entrepreneur below:

How did you celebrate when Yahoo acquired Summly?
The experience was a bit surreal. I really just went to work and continued to focus on my work that I had begun at Summly. It was a proud moment releasing Yahoo News Digest, the direct evolution of Summly.

What are some mistakes entrepreneurs should avoid when pitching venture capital investors?
I think some entrepreneurs focus too much on the idea, but not enough on the planned implementation or quantifying the success of their solution. Metrics, plans, patents and implementations are just as important as the initial idea.

What advice do you have for young entrepreneurs hustling for their first big break?
There are so many resources available online that the primary goal of someone wanting to succeed should be to teach themselves all of the necessary skills e.g programming, business development, design, marketing etc. Be fearless and don't be afraid of failure. There is no better way to learn than through trial-and-error.

What do you do for fun, when you're not at work?
I live a fairly normal life for an 19 year old in London. I still go out on the weekends with my friends, go to parties, and I’m finishing school so there is a lot of studying.

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