Entrepreneur Stories – Swoop That
Jonathan Simkin is the 23 years old CEO of Swoop That, a company that he started with some friends his senior year of college. They help students save money and time when buying textbooks, and created a unique process for buying books – students select their courses, and then our system returns all the required books for that schedule as well as price comparison for each book. They take into account buying all the student’s books at once, and their algorithms make recommendations for where students should buy their books.
The end result was that students saved up to 75% on textbooks and the whole process takes about 10 minutes. They have been growing rapidly since we launched last semester, and they are now one of the largest aggregators of student course and textbook information in the country.
What were the obstacles to starting your business (educational requirements, certifications, licensing, insurance, etc.)?
The biggest obstacle was building the right team. It’s fairly easy to start a website business, but it’s not easy to build a service with meaningful data and one that provides true value for students. I’ve been fortunate enough to have been able to build a solid team with a strong focus, and that’s enabled us, more than anything, to grow and expand our business.
How did you find suppliers/services you needed to get started?
We did quite a bit of market research to determine who the best online merchants are, and then we reached out to each one and slowly found out how to partner with them. Sometimes large companies have systems in place to make this easy, so you just have to find them.
How did you finance your start up?
We financed the start up with family friends, and are getting close to a Series A round.
Is this a full time business or a supplemental income?
Full time.
What advise would you give others?
Don’t let others discourage you. There are hundreds of reason why you could and should fail. But, if you’re passionate about something, pursue it. If you’re smart and persistent, you’ll find a way to make it successful.
What organizations do you belong to?
The CONNECT Springboard Entrepreneurship program. We’re also affiliate partners with
these merchants.
How has your lifestyle changed from being an employee to becoming a business owner?
I work way harder. As an employee, you work your standard hours, and then you’re done for the day. As an entrepreneur, you have to work and build an idea 24/7 – without this work ethic and devotion, a start-up is bound to fail.
