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Capturing a social trend: Interview with Ivan Fatovic, founder of Modamily

Modamily is a New York-based private social network for people looking to co-parent a child within the US and Ivan Fatovic is its founder. Ivan noticed a social trend and decided to turn into a venture. Modamily was launched in Jan 2012.

Photo of Krassimira Iordanova
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I came across Modamily for teh first time a few weeks backvia the atricle that spoke about social pairing .
I sent the questions proposed by Ashwin to Ivan. Here are the answers:

Q:
So tell us, what was your greatest resource in the early stages?
Ivan: My greatest resource was the internet. We are very lucky to live in a time where information is just a google search away. Then I have a lot of friends that started businesses and raised money and they were helpful too.

Q: What was the greatest barrier when starting your company?
Ivan: Deciding to spend my own money to start it, was a tough decision, but also the best one, because it puts you 100% behind your idea.

Q: What kind of people or organizations helped you on your journey? How?
Ivan: Initially, I went to a lot of meetups through meetup.com. I knew very little about web design and development and I got to meet people in all different stages of starting a company.

Q: What about technology, did you find a particular innovation helpful?
Ivan: Well these days you can run a business from anywhere, just need a laptop with an internet connection and my mobile. I used a site called 99designs to help with my logo and another one called odesk helps you find freelancers for whatever you need.

Q: At what point did you feel good (confident, motivated)?
Ivan:We started getting a lot of calls from the press within the 1st week we went live. I knew we had something that people were interested in.

Q: At what point did you feel low (isolated, powerless)?
Ivan: I want everything done now and it can be frustrating waiting for other people to get things done. When you're starting out with limited funds and no full-time employees, it can be frustrating because things can take longer to be executed.

Q: What surprised you most about starting a company?
Ivan: All the little things you have to deal with from setting up a corporation, bank account, credit card. There's many little decisions that need to be made. Most people start with a grand vision, but it's the little things that get done everyday that help you achieve that goal.

Q: If there were a start-up genie in a bottle, what three wishes would you have?
Ivan: A genius partner to compliment me, a million instant subscribers to my site, and $50 million.

Q: Tell us a story: what was the issue you were facing and how did you overcome it?
Ivan: I don't make any big decisions without taking some time to think it over and consult with my advisors so I can come up with the best solution. Having experienced people that you trust that you can go to for advice is really important for everyone starting a business. You can't do everything yourself...find the best in each area that you can go to for counsel.

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Photo of Ashley Jablow

Great work Krassimira! Cheers for gathering these insights. For anyone else who'd like to interview someone they know, you can find the interview questions here http://bit.ly/GJIRhI.

Photo of Krassimira Iordanova

Thanks, Ashley!

Photo of Anne-Laure Fayard

Very nice Krassimira! Glad that you found the interview kit useful. I found a number of interesting points in the interviews, among which:
How technology and the web is a great enabler (incl. working with design websites for the logo).
But people still matter (partners, people working part time, etc.)
The internal motivation of the founder and his belief in the idea.
Thanks!
al

Photo of Meena Kadri

Great stuff, K. Would be great if you could add a link to Ashwin's Interview Kit post to your actual entry so folks figure out that they could use it also ;^)