“Generally, an entrepreneur should be brave enough to believe they can make it, resolute enough to bet on ideas, and smart enough to always hedge their bets.” The virtue of wisdom, from Timothy Loginov, a co-founder at AnyChart, has allowed him to achieve new milestones in his entrepreneurial journey.
Timothy started out as a freelance technical writer for up and coming software businesses many years ago. “Then I realized it’s better to create software by yourself rather than get hourly pay. At least that’s how things looked to me. So, when most of my university mates were trying to get jobs at government agencies or as beta testers for Blizzard, I decided to go into small software ventures with my like-minded friends,” recalls Timothy Loginov.
In a few years, he together with his friends created a DRM service, Activatesoft.NET which they subsequently sold. They also ventured into the restaurant management software business, as well as database management and coding assistance tools. Their first achievement was a set of batch image and (later) video processing tools that allowed people to cope with a growing need to work with substantial amounts of digital photos.
Then, Timothy and his business partner got a novel idea of creating a one-size-fits-all charting tool that the global interactive data visualization market now known as AnyChart.
Initial Struggles Often Lead to Success
Because he went into business before he graduated from university, Timothy remembers a time when it was all about being able to believe in himself and his ideas. “But then, while we all dream to go big in months, it doesn’t happen exactly that way for the most. You need to — and I had to — persevere, and at the same time, cope with the fact that peers might already be getting cushy jobs and stable salaries while you are struggling,” says Timothy.
There were roadblocks preventing his forward movement that forced him to learn something new, like proper planning, for example, in the fields of both finance and R&D. “Well, I have always believed that enthusiastic work is maybe the most important thing to get you started and running. However, to go from proof of concept into production you actually need to do a lot of grunt work. It was very painful, but an invaluable lesson,” he explains.
Delivering Interactive Data Visualization
In 2003, when AnyChart was founded, the idea behind the company was simple but exciting. The company aimed to allow every web developer and engineer to quickly visualize their data in any kind of chart. The output would be easy to embed into any web page or app built with any stack, looking beautiful regardless of platform or device. And they did it.
This year has been particularly exciting for the company. AnyChart has recently announced their new Technology Alliance Partnership with Qlik, adding 3 new product extensions for Qlik Sense. The partnership enables their community to be provided with more than 30 new chart types and features such as tooltips natively in the Qlik environment.
“Already on the top positions in the data visualization industry, we are going to keep strengthening our leadership in the global market of charting solutions and continue expansion to new territories, verticals, and audiences,” comments Timothy.
Aiming to Make World Better
As a successful tech entrepreneur, Timothy is realizing his dream of making the world a better place by leading such an innovative company.
“When customers tell us, they are happy to use our solution as it saves them time and effort in creating visualizations and making faster and better data-driven decisions, that is precious and inspires me and all of us to work even more. I’m glad it indeed happens often.” shares Timothy.
Learn from Competitors
Entrepreneurs need to have game plans in place to tackle competition in the market. Timothy suggests that entrepreneurs must keep an eye on their competitors and never underestimate up-and-comers: “Learn from them and try to understand what they are doing and why,” he recommends.
Timothy also addresses upcoming entrepreneurs by asserting, “Since you have to believe in yourself, you cannot help but consider your way better, which sometimes makes it hard to admit you’ve come the wrong way. So, it feels much easier to dismiss what others are doing and keep saying “we know it better.” But you should know and remember that at the end of the day, you’ll have to get into your customer shoes and see why they might choose you and not the other guy.”
Three Things to Consider
When asked about the advice to enlighten emerging entrepreneurs, Timothy emphasized three things, “First, if you are contemplating to go into business, you should know that working for yourself is not for everybody. But I would strongly suggest that everyone should at least try to do that. Second, being an entrepreneur is stressful and you have to devise your own strategies to cope with this stress. Third, learn to delegate but never blindly trust your employees.”