7:21 - The right time for scaling up
26:36 - Why hire in Belgrade
32:02 - Scaling while bootstrapped
42:42 - Growth engines
53:15 - Growing towards an exit
Dennis Just is the current CEO at Smallpdf, a company offering a suite of clever document management tools for everyone. He holds a BSc in Economics and Engineering from Technische Universität Berlin and previously founded companies like Numbrs and Knip.
Mathis Büchi is co-founder and chairman at Smallpdf and Taxfix, a digital tax accountant. He studied International Business and Global Management at the University of Hong Kong and previously founded Encounter Korea, a company organizing tours to North Korea.
Dennis and Mathis recommend that you only scale once the following conditions are met:
Do you always need to raise funds in order to scale up? Not always, no, but if you’re solving a problem that is too big or too complicated to make money from right away, then you need to raise funds. Or if, for instance, you need to beat your competition in a winner-takes-all market by outspending everyone, then you need to raise funds.
"Even if a problem seems boring, like PDFs or taxes, it’s still engaging to solve it, and you still get to help a lot of people’s lives." (Mathis)
"You need to define your entrepreneurial identity: why are you doing what you’re doing? What’s your goal?" (Dennis)
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