10 Tips For Starting A Successful Digital Wallet Business

We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.

Here's the best advice we discovered for starting a digital wallet business:

#1: Kyle Bergman, founder of The Great Fantastic:

We chatted with with Kyle, founder of The Great Fantastic ($17K/month). In our interview, Kyle says:

Normal sweatpant overalls did not exist online after a quick google search, nor in any stores that I visited. So I made them.

Additionally:

Every entrepreneur gets incredibly lucky at one point or another. Could be simple timing, or could be a blissful ignorance of the enormous risks that are not recognized, and therefore unknowingly avoided by chance.

Further:

Fail early and fail often. I didn’t get into Business school the first time I applied. My first Kickstarter campaign didn’t reach its goal. My second crowdfunding campaign was late being delivered to customers by 3 months.

Read the full interview ➜

#2: Christopher Gimmer, founder of Snappa:

We chatted with with Christopher, founder of Snappa ($85K/month). In our interview, Christopher says:

One of the biggest lessons that I’ve learned over the years is the power of the long game. For starters, this applies to business and life in general. Sometimes you just need to play the game and things will happen.

Additionally:

Just start with something small and easy to get off the ground and treat it as a learning opportunity. As you start working on it, you’ll naturally start thinking of better business ideas and you’ll have a much better understanding of how to execute on them.

Further:

It seriously doesn’t matter if your first idea sucks and you completely bomb. You will learn so much in those first 3 - 6 months and at a certain point you need to apply what you’re learning from blog posts and podcasts.

Read the full interview ➜

#3: Matt Griffin, founder of Combat Flip Flops:

We chatted with with Matt, founder of Combat Flip Flops ($350K/month). In our interview, Matt says:

Until you know how to do something yourself, don’t contract it out. Do a task until you know the full details involved.

Additionally:

There’s no secret sauce when it comes to promotion, advertising, and social media. You simply have to put in the work.

Read the full interview ➜

#4: Dan Watkins, founder of GloFX:

We chatted with with Dan, founder of GloFX ($400K/month). In our interview, Dan says:

I started GloFX with $400 in capital, and within 30 months, I watched that $400 snowball into $1,000,000.

Additionally:

Create strong business systems. Never underestimate the power of a well-oiled machine and what it can accomplish.

Read the full interview ➜