Aqtos

How Damjan Dano Built Aqtos into a Revolutionary Business OS in 5 Years

Founded By

Damjan Dano

Monthly Revenue

$500

Founders

Employees

15 (est.)

Profitable

Yes

Year Started

2014

Customer

B2B

Founded By
Damjan Dano: Monthly Revenue
$500: Founders
2

Employees
15 (est.): Profitable
Yes: Year Started
2014

Customer
B2B

Who is Damjan Dano?

Damjan Dano is a seasoned tech entrepreneur who spent 17 years building successful service businesses before co-founding Aqtos; he hails from Skopje and has navigated the challenges of product development alongside co-founder Riste Stojanov, an assistant professor with a Ph.D. in Computer Science.

Damjan Dano, Founder Aqtos

What problem does Aqtos solve?

Aqtos solves the headache of juggling multiple business management tools by offering an all-in-one platform, simplifying operations for smoother, more efficient workflows.

Aqtos Homepage

How did Damjan come up with the idea for Aqtos?

The idea for Aqtos was born from Damjan Dano's personal experiences managing an ICT company, where he struggled with the inefficiencies of using disconnected software tools for crucial business operations like HR, project management, and finance. Back in January 2014, he realized existing tools couldn't fully integrate these functions, leading to data silos and poor user experiences. Driven by the unmet need for a seamless platform, Damjan started sketching out his vision of an all-in-one business management solution.

Despite the initial enthusiasm, bringing Aqtos to life was no easy feat. Damjan encountered common product development challenges, such as lack of focus, over-engineering, and the absence of a technical co-founder. Over the years, he verified the idea with potential users and early adopters, gradually refining the concept based on their feedback. This iterative process eventually crystallized into a robust model that would serve as an exhaustive business management system.

The journey taught Damjan that perseverance and a clear vision are essential, even when traditional startup wisdom suggests rapid development and quick pivots. He learned to embrace a slower but more thoughtful approach to ensure that Aqtos could deliver real value as a product people would love, not just a minimal viable offering.

How did Damjan Dano build the initial version of Aqtos?

Aqtos was built through a meticulous, decade-long process, with its development being initiated in May 2020. The creation phase witnessed 3,573 code commits, evidencing the extensive work and revisions involved. The development incorporated cutting-edge technology, leveraging machine learning, artificial intelligence, and a robust tech stack to create an intuitive all-in-one business operating system. Initially, the project moved slowly due to challenges common in product development, such as over-engineering and the absence of a technical co-founder. However, progress accelerated with the addition of a technical powerhouse to the team in 2019. The first substantial prototype was a verified Proof of Concept completed by the end of 2021, but the team faced difficulties like the COVID-19 pandemic, which delayed the process. The journey required stepping out of the comfort zone of client work and exemplified a commitment to building a Minimum Lovable Product (MLP), rather than settling for a conventional MVP.

Aqtos

What were the initial startup costs for Aqtos?

Payroll: The ongoing cost of maintaining a team of 15 people, including a CTO, developers, and consultants, is about $15,000 per month.
Maintenance: Monthly expenses for maintaining infrastructure and operational capacity amount to $1,000.
Software and Technology: This expense includes licenses and tools necessary for development and operations, reaching $4,000 per month.

What's the pricing strategy for Aqtos?

Aqtos offers its Business Operating System as a Service (BOSS) with various features like project management and HR tools, adopting a subscription-based pricing model; specific pricing details are pending public launch.

Aqtos Pricing

What were the biggest lessons learned from building Aqtos?

Embrace Slow Growth: Aqtos showed that quality over speed is crucial. Instead of rushing an MVP, they took time to build a "Minimum Lovable Product," ensuring it met real user needs. For founders, this highlights the importance of patience and dedication to product excellence.
Find the Right Team: Initially lacking a technical co-founder slowed Aqtos's progress. Bringing on a trusted partner with "skin in the game" was pivotal. For new founders, partnering with the right people who share your vision and commitment is essential.
Trust the Vision, Not Trends: Aqtos's journey deviated from typical startup wisdom of rapid scaling and VC funding. They focused on building real value and were willing to self-fund. This teaches aspiring founders to stay true to their vision, even if it means going against industry norms.
Resilience Is Key: Developing Aqtos over a decade required persistence in the face of challenges like the pandemic and a high burn rate. This underscores that resilience and a willingness to adapt are crucial traits for entrepreneurs.
Financial Sacrifice for Control: Aqtos chose to bootstrap and self-fund, maintaining control over their product and its direction. Founders should weigh the benefits of maintaining control over their creations against the potential financial strain.

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