Threads: Vladimir Yakimenko
Web-based project collaboration software
Tell us what your business does:
Threads is a web-based project collaboration software that helps teams to capture ideas, hold discussions, manage tasks, track issues and share documents and files.
Where did the idea for your business come from?
We built this tool for in-house use around 10 years ago, it has become indispensable for our service business, so we’ve decided to make a product out of it and launch as a new start-up.
How did you know there was a market for it?
The recession has been a key driver in encouraging businesses to use online collaboration so the timing is perfect for this project. Although there are over 200 collaboration software programmes in existence already, we are aware that every business is different and therefore needs very specific tools and we address that.
What were you doing before starting up?
I run a software development company.
Have you always wanted to run your own business?
Yes, I don’t know any other way.
How did you raise the money?
This start-up is bootstrapped.
What challenges have you faced and how have you overcome them?
The main challenge is promoting this product, as this is what we have not been involved in before.
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Describe your business model and how you make money:
The software is subscription based.
What was your first big breakthrough?
Just launching the software was challenging enough.
What advice would you give to budding entrepreneurs?
Be persistent. Do not pay too much attention if a lot of people don’t believe in your idea – this is a strong indication that you are on the right path.
Where do you want to be in five years’ time?
I want our software to be one of the top 10 programmes on the market.