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Madi: I Am a Product of a Very Varied Mix of Experiences, Having Lived and Worked in the United Kingdom, Switzerland and Lithuania

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Madi

Madi of BOLDR.

Tell us about yourself?

I am the CEO and Co-Founder of BOLDR, where we produce appliances for the home with a focus on sustainability and design.

Our flagship products are KELVIN and FARA, which are energy efficient and smart electric heaters that help users save money and live more sustainably.

The heaters are delivered with a wireless thermostat and are connected to a smart app that is full of convenient and energy waving features.

What do you think is the single biggest misconception people have when it comes to startups?

People often want to start a business to become their own boss, which they believe means working less and earning more. The misconception is that startups can be developed really quickly and enjoy immediate meteoric rises and profitability.

However, the reality is that if you start your own business, at first you will most likely end up working day and night AND you’ll have less disposable income in your pocket because you have invested it all into operations.

However, if you do what you love, it will hardly feel like work but more a hobby. It might be months or even years of execution until you see your hard work pay off in more flexibility and income.

If you could go back in time to any moment from your journey, and give yourself one tip, what would it be?

I would go back to the time I was studying at University with ample time to spare and no responsibilities at hand.

I would tell myself to use that time and resources wisely in order to start a passion business earlier in my life.

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What makes you stand out as an entrepreneur?

I am a product of a very varied mix of experiences, having lived and worked in the United Kingdom, Switzerland and Lithuania across a range of sectors, including technology, media and finance.

What are some of the best working habits you’ve gained over the past couple of years?

I think effective time and project management is perhaps the most critical skill that I have picked up over the years.

Starting a business is a very time consuming endeavour because you end up doing the jobs of what a normal company would hire 10 different people for.

Give us a bit of an insight into the influences behind the company?

Consumers are overspending on their heating and cooling as a result of archaic heating technologies that were poorly designed and are difficult to operate.

These technologies are often not environmentally friendly and are becoming less so with every passing year.

Given that heating and cooling account for 70% of the total energy bill in an average household, at Boldr we aim to impact this market through efficient products with energy saving features.

Where do you see your business in five years?

We see our business impacting millions of homes and helping them waste less energy whilst achieving their heating & cooling goals.

We plan on having a strong retail and online brand presence with developed business partnerships with energy resellers, solar panel producers, as well as traditional heating and cooling distributors.

What do you think the biggest challenge will be for you in getting there?

Currently the biggest challenges we are facing is the rising raw material costs, logistical costs and production timelines from Asia.

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Talk to us about your biggest success story so far?

We have been accepted and will be participating in perhaps the most successful accelerator programme in the world. We plan on leveraging every resource at hand to drive vertical growth at BOLDR.

How do clients and customers find you? Are you much of a salesperson for yourself?

Our end consumer can find our products through our online store, as well as physically via our retail partners in certain locations worldwide.

What one tip would you give to fellow startup founders?

Build an effective team around yourself from the very start with people that do certain things better than you.

And finally, what do you hope the future brings both you personally, and your business?

Naturally working at BOLDR will continue to broaden my personal network and understanding of the very many verticals and industries that we will grow in.

The company is poised for a very successful next 5 years as we expand into cooling.

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