Albert Mikkelsen, founder of Montlowe, in Barcelona. Before a private equity fund buys a company it commissions an examination of the business. He has run more than twenty-five of those, and Montlowe is his attempt to build the software that runs them.
We asked what the most expensive thing he has learned was.
"During my MBA I started a fertility company offering free egg freezing to eligible women willing to donate half of what was retrieved to a family struggling with infertility. What we never checked was how many women could actually qualify. Four in five were ineligible.
It cut our market to a fifth of the one we had modelled, and it multiplied our cost of acquiring a customer by more than five. I learned the value of diligence on my own skin.
Work out which assumptions end the business if they're wrong."
One of the founding cohort of YEC.
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