In this ongoing series, we're sharing tips, advice, and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Responses have been edited and condensed for clarity.)
Please give us your business elevator pitch.
I am Orpheus Boteasfounder and CEO of Crotos. Our software empowers content creators to turn the slow process of sound design into a real-time performance. Our audio software has been used in movies, series and video games as well Avengers, game of thrones, Foreign things AND Cyberpunk 2077. Our new platform, Krotos Studio, uses AI to allow creators of all skill levels to design Hollywood-quality sounds and make their content stand out.
Credit: Kronos Studio
What inspired you to create this business?
My inspiration started when I did a Master of Science in sound design. I had to create monster sounds for a game. While I enjoyed the process, I found the animal sounds and recording my own voice to be very time consuming, then layering and processing using different software. It took hours. My frustration led me to develop a solution that changes your voice into monster sounds in real time. Thus was born the idea for our first product Dehumaniser, and eventually Krotos. This saves time and money while making the process more fun.
What was your “aha moment”?
When I saw people's faces light up as I heard their voices transform into a Hollywood quality monster as they spoke!
What advice would you give to entrepreneurs looking for funding?
Make sure you actually need the financing – you do investors it is not for every business. If so, you have a prototype with traction or a stellar management team that has exited businesses before, or both. And be patient, don't give up until you pitch more than 150 investors. Persistence is the key. Pitch to term sheet conversion rates range between 0.3% and 1%.
What does the word “entrepreneur” mean to you?
Innovator, disruptor, someone who can figure things out. Someone who can think of a better way to do things. Someone who is unemployed.
What is something that many aspiring business owners think they need that they really don't?
Experience and money.
Is there a particular quote or saying that you use as personal motivation?
“When we strive to become better than we are, everything around us also becomes better.” – Paulo Coelho, The alchemist
Entrepreneurship is a journey of many ups and downs, involving many challenges that can push you to the limit. If you embrace it and want to grow, you have to improve, learn every day and become better at everything you do. When this happens, the people around you become better because you make better choices.