Today’s Entrepreneur is Melinda Wittstock, CEO and founder of NewsiT. NewsiT is a mobile ‘big data’ platform for real-time algorithmic validation of original crowd-sourced content for brands, campaigns, media seeking to attract and retain committed consumers. People connect around interests they share and people they trust to get more relevant and accurate information – and valuable conversations with other users.
According to her VEQ, Melinda is a thought leader and is good at sales execution and product management.
NewsiT is competing in the Splash SF startup competition. Check out who’s competing, and vote for your favorite or enter to compete.
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I am a(n):
Entrepreneur
Companies I’ve founded or co-founded:
NewsiT, Capitol News Connection, Montreal Mirror
Startups I worked for:
NewsiT, Capitol News Connection, Montreal Mirror
If you are an entrepreneur, why?
I want to change the world.
My favorite startups:
Airbnb, LinkedIn, Evernote, Pandora, Instagram
What’s most frustrating and rewarding about entrepreneurship/innovation?
Reward and frustration are two sides of the same coin. No one ever said being an entrepreneur and pioneer was easy. I love being able to put my prescience and vision into practice, and being ahead of the curve is empowering if at times a little lonely. You need superhuman strength from within, the stamina to stay the course and humility to know when to change course. I love iterating to create a product people want to use – something that can improve lives. And working to build the great team of ‘A’ people you need to succeed.
What’s the No. 1 mistake entrepreneurs make?
Either surrounding themselves with ‘yes-men’ and b-listers, or failing to identify and plan for the ‘what if’s’.
What are the top three lessons you’ve learned as an entrepreneur?
1. There are things you cannot control, and success is measured by how you respond and learn from challenges. (Or, “what doesn’t kill you makes you stronger”.
2. The team is everything. Bring in people smarter with different perspectives and expertise. Hire A people.
3. Don’t expect to raise money until you have a great product people are using and paying for.
What do people misunderstand about being an entrepreneur?
They think it is easy and glamorous.
What investors, angels, VCs, do you most admire and why?
At NewsiT we see our investors as partners in growing an exciting, scalable and game changing business. We admire angels and VCs who work with management to grow valuable businesses. These are investors – not speculators!
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