What is CHEFIN’?
CHEFIN’ aims to reconnect the world by empowering local chefs to create unique and unforgettable dining experiences that spread our love for food. Our online platform lets you choose a Private Chef for your next social event. Support your local community and enjoy a hassle-free dining experience at your home.
How did you get the idea?
I’ve always loved food since I was a child – putting my fingers in everything mum was cooking. Two years ago, a friend of mine stayed with me and we started organising social meals. It struck me that food connects people, it’s like a social glue. We started thinking how we can help more people around the world have the time to enjoy good quality food and reconnect with the people who matter to them.
What’s the biggest win so far?
We have managed to bootstrap CHEFIN’ for almost two years, growing revenue to $20K monthly. It’s a great achievement of which we are very proud.
What’s your biggest mistake?
My biggest mistake is believing that great product will sell itself and people will queue to purchase it. Product is just like ideas – there are plenty of great ones out there. To succeed in the beginning we need to push the market, do things that don’t scale, hustle and keep improving the core product.
My biggest mistake is believing that great product will sell itself.
How’s your experience been funding your startup?
So far we’ve been backed by seed funding from the founders, and managed to secure an R&D grant. We’ve been trying to raise capital since November 2016, though not with much success. VC firms tend to ask for $X of monthly revenue and push for performance history. If angel investors aren’t hard to reach, they’re not happy to have a conversation without money on the table.
We almost closed two deals in the past though both turned upside down last minute and tried to re-negotiate the previously agreed terms.
What needs to improve/change for Australia to become a global leader in innovation and tech?
It all starts with education. There needs to be more easily accessible courses for entrepreneurs. More support networkings and mentoring for startup founders as well.
Have you had any challenges with sourcing and growing your team?
We haven’t had a massive need to recruit however, advice I’ve always followed is that you need to get involved in the microsystem of the communities you want to recruit from. If you need a developer, start going to developer meetups, Uni and TAFE course gatherings. If you need a marketing person, go to HubSpot user groups, industry association events and that sort of thing.
Get involved in the microsystem of the communities you want to recruit from.
Do you have any tips for acquiring new users and/or scaling your business?
Find a distribution channel you can partner with. This is extremely important in the early days of a startup. We work with Airbnb and Redballoon. Use growth hacks. Work out what no one else in your industry is doing and hit it hard. For us, it’s been cross-selling between B2B and B2C. We aim to convert every attendee at business events to a customer for CHEFIN’.
What would you be doing if you weren’t doing this?
Probably another startup – big data related. I’m a data geek and love everything data-wise 🙂
If you could go back to the start, tell us two things you would do differently.
I would spend my first six months validating the product in an MVP form (simple WordPress) with or without minimum investment required. I would do this instead of spending eight months building a product that we thought everyone would buy. Keep it lean from day one. Work hard collecting data and working out financial projections, instead of sporadically spending cash on advertising and hoping it will work.
Work hard collecting data and working out financial projections, instead of sporadically spending cash on advertising and hoping it will work.
What’s the best advice you could give to someone starting out?
Starting your own business is like having a child: be prepared to work around the clock, deal with constant crying without knowing what the reason is, and gather lots of advice and education from everywhere you can.
Never give up, and always be open to advice.