MIV Catch Up - Carspring

Peter Baumgart, co-founder of Carspring, joined us on Twitter for #MIVReveals on Wednesday 8th June 2016. Carspring is Europe’s first truly online used car dealership.   After meeting at consultancy firm McKinsey & Co, co-founders Peter Baumgart and Max Vollenbroich launched Carspring in May 2015 in London and, within months, they had expanded nationwide.   

@CarspringUK Thanks for joining us today Peter Baumgart, could you firstly explain to us what it is you do? #MIVReveals

@Myincventures I’m the co-founder of the website Carspring. Carspring enables people for the first time to buy a used car completely online. #MIVReveals

@CarspringUK Can you tell us more about your background and what inspired you to set up your business? #MIVReveals

@Myincventures I was working in business administration and thought the used car market was ready for a disruption - we’re here to do just that. #MIVReveals

@CarspringUK How does Carspring work? #MIVReveals

@Myincventures Simple - customers visit our website, choose a car, select a payment plan and then get their dream car delivered. #MIVReveals

@CarspringUK What makes your service unique and differentiates you from your competitors? #MIVReveals

@Myincventures We’re completely online and offer one journey end-to-end, allowing you to buy a used car from the comfort of your home. #MIVReveals

@CarspringUK What have been the biggest challenges of setting up your #business? #MIVReveals

@Myincventures Convincing the first customers wasn’t easy, but since then the positive feedback has been great and we’re growing every month. #MIVReveals

@CarspringUK What type of financial and #mentoring support have you received? #MIVReveals

@Myincventures Our investors have always consulted and supported us but we also have an extensive network of experts in the used car industry. #MIVReveals

@CarpspringUK How many hours a day do you work on average? #MIVReveals

@Myincventures That is very hard to say and always depends on the day. I would say 8-12 hours is a good estimate. #MIVReveals

@Carspring UK What would you say is your proudest #business moment so far? #MIVReveals

@Myincventures Selling our first car was a glorious moment, but also number 100 and 500 were fun again. There have been many proud moments. #MIVReveals

@CarspringUK In your opinion, what are some of the key characteristics behind becoming a successful #entrepreneur? #MIVReveals

@Myincventures Positive energy and the ability to motivate others. Besides that you need to build a great team and some luck also doesn’t hurt. #MIVReveals

@CarspringUK What advice would you give to other #entrepreneurs looking to set up their own business? #MIVReveals

@Myincventures It’s important to have a clear vision of the goal in mind, but stay flexible in how to get there. #MIVReveals

 @CarspringUK Thanks for joining us today Peter Baumgart, it's been great to share your story #MIVReveals

@Myincventures Thanks, it's been my pleasure :) Have a fantastic day! #MIVReveals

 

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