With several notable projects behind his back, Michael Zetser is the dark horse of the world of fintech. He is building excellent products and sells his businesses for hefty sums of money.
However, he has been working outside the cycle of creating a company to wow everyone and starting all over. The current “iteration” of Zetser is a mentor. At least, before his startups make commotion in the fintech industry again.
“I think that the fintech sector is suited excellently for entrepreneurship. It is more forgiving than any other industry. You can create something that does not work as intended and still have a viable product on your hands,” says Michael Zetser.
He continues: “depending on where you live, creating a legal entity and building your own unique product is quite easy. The problem is that many people simply do not want to get into details and learn on their mistakes!”
The visionary of the fintech sector
Being a successful entrepreneur is not easy. While the media tries to sell you the idea that anyone can be at the top of this industry by simply waking up early and working 8 hours per day, the reality is much harsher. Luck plays a big role. Your personality is quite important. Expertise is required to be among the best.
Michael Zetser believes that a good entrepreneur must be a salesperson. Your ideas do not have any real weight until you learn how to sell them to potential investors. While some people think that you need your own money to start a company, the vast majority of successful guys out there are simply asking investors.
However, just walking into a room of Shark Tank and making a good presentation of an idea is not the best way to receive funding. You need to be a visionary in some way.
Michael Zetser says: “whenever I walked in a room with investors, I knew what to talk about. I radiated confidence and talked about a beautiful future where my product is the only thing known to humanity as perfect. Each time, I knew about the limitations and downsides of my product, but I focused on the good things!”
You can build a two-wheeled car with a small electric motor and call it the future of transportation. Yes, it will inevitably fail to overtake traditional cars, but it will find its niche just like gyro scooters did.
You simply need that initial bump to start your business and reach the point where you can stabilize and make money reliably!
Delegating tasks is incredibly important
We asked Michael Zetser, what he saw as the best quality of a modern entrepreneur. Here’s what he had to say: “when working in fintech, you need to be able to delegate your tasks to other members of the team. Yes, technology is important and building the best product you can, should be on top of the list of priorities. However, I know the only thing that nobody in my team knows well. I can sell the product and be in the room with people who make decisions!”
Michael Zetser built multiple interesting fintech platforms that managed to reach millions. However, he was never the main engineer, designer, or HR-manager. His main goal was to sell the idea and make it work.
Knowing how to start over
Michael Zetser believes that every startup is a cycle. It starts with establishing goals and forming an idea. It proceeds to gather funds and building the product. It is sold to a company that can run it better or thinks that it can run it better. An entrepreneur starts over using money earned from the first company. It is hobby and a business for people with a very specific mindset.
At the time, Michael Zetser thinks that there is a definitive moment in his career where taking a small pause is necessary.
