Entrepreneurship Profile: Dominik Drechsler’s Firezign

Dominik and his best friend had always been passionate about online games so they decided to try and put their passion to use by developing their own game. Considering neither of them had a lot of money, one of their friends initially paid for the domain and the server as he  believed in the idea these two friends had and wanted to help.

After a while, they received their first revenues thanks to online advertisement, which helped their system grow. After 2-3 years they were worried about risks that could financially ruin not only their enterprise but also themselves, so in 2009 they decided to convert their hobby into an official German company with Ltd.-status.

The point here, Dominik told IvyCity, is that they had a passion about something. They  wanted to create something, which led them via organic growth from a budget of 0€, to having their own, successful company. Also important to notice is – and this is crucial for any business – that they used infrastructure and advice that helped them greatly in the beginnings of their enterprise.

What started out as a hobby that actually cost them money, it turned into a serious business, which made them money. They would never start a project that they  did not believe in or were not passionate about. This is an attitude that they have kept until this day.

After they became an actual company, their focus shifted from games to an area called “paid-for”. These are websites that reward you for doing something on the web, like visiting or clicking on other websites. Their key to success in this endeavor was co-operation with a lot of Chinese people. The lesson they learned was to adjust to a globalized world. They used the Chinese instant messaging system for communication and had to write in very clear and simple English, because – quite frankly – their English was very bad, Dominik told us. After some time, when they saw the industry collide, they  sold their sites with a profit and moved on to a next project.

In the mean time, blogging has become not only a communication device for passionate amateur journalists but also a very profitable enterprise. Dominik and Klaus already had two blogs, mainly for fun and in order to have a voice on the web. Suddenly, they started to get real revenue streams from them, so they started to expand in this direction. Today they have nine blogs and counting.

It’s not that they didn’t have a plan. They have always had a three-year plan that would outline their path, and this remains really important. However, the lesson they learned was, that on the internet you have to have more than one option to go forward and you have to realize when to disinvest in one business before it is too late, so you can focus on a new one. This certainly does not apply to everyone. Amazon has been doing great business for the last 14 years or more. Yet there are also those that have an expiration date. This also happens with not internet-based companies. Nintendo made playing cards before Super Mario, but Dominik would argue that a total game changer happens faster on the internet then in the “real world”.

Currently, Dominik and Klaus are developing two more projects which might become even more successful in case the blogs have diminishing returns. Remember, that it is always important to have a plan B up your sleeve or an unsuspected change might kill your enterprise.

Dominik emphasized in the writing of this profile that Klau and he worked as a team, always.

“We always work as a team, every decision was signed by both of us, the work was evenly split between us, and no one tried to overrule the other one. If you are a team you have to act like one.”

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