Bosko Milosavljevic - CEO and Founder of Keeprop

Today on Founder Journeys, we are featuring one of our Maple entrepreneurs. Our Maple program helps international entrepreneurs expand and grow their business into North America and get their permanent residency in Canada through the Startup Visa program. Today we've got Bosco Milosevc. He is a CEO of Keyprop Software. They are a successful IoT company out of Serbia that have now expanded into North America. Today we're going to talk about cultural views of entrepreneurship in different countries around the world and the importance of continuous learning as an entrepreneur. 3, 2, 1. My name is Ray. I'm the CEO of Launch. Welcome to our Founder Journey series here on igtv. The journeys are about the entrepreneurs progress through their startup, but also things that they've encountered or had to deal with behind the scenes in personal life, but also outside of their business. And as you'll hear and see from these discussions that we have with the various entrepreneurs that we're bringing into our Founder Journeys, everybody's got a very different background, but one of the very common themes that you'll see is there's a lot of ups and downs, there's a lot of challenges that entrepreneurs are faced with on a regular basis, and we really want to dive into it. So it's been really sexy to be an entrepreneur. You hear all this hype around starting your own startup. Fact of the matter is, it is difficult, but by and far, I can probably say for all the entrepreneurs that we're going to talk to, this is a decision that people would probably repeat. Again, entrepreneurship's in our blood. It's something that we're kind of addicted to. And as much as there are challenges and ups and downs, people wouldn't trade it for the world. So today I'm excited to have Bosco. Bosco is an entrepreneur that came across to us in our exchange program with, I believe it was Naco.

Yes, I was there for two months, and let's say I was amazed with the energy in Launch Academy with you guys. So then I was offered to apply for the Maple program, and the rest is a history, of course.

Yeah. So the company that you were building back in Serbia was key prop, and from what I recall, this was connected vending machines and repair services. So you had vending machines and different devices out in different locations, and you were organizing repair services, and instead of having a repairman go and check on each one, they were able to see what need to be repaired all digitally online. So tell us about yourself and your company and what convinced you to come to Canada and join our Maple Program.

Okay, Ray. Thank you for having me today. As you said, I was born in Serbia and from August 2019 I'm proud, the resident of Canada, the most beautiful place in the world. And I moved here with the family. And of course Key Prop is my first Canadian company and actually my fourth company. I consider myself as a serial entrepreneur when speaking about the Key Prop. Yes, we are using different technologies like location service, IoT machine learning to generally provide automated work dispatching for different industries. And like you said, we are trying to offer these services to companies that have highly distributed assets. Like you mentioned, vending machines, printers. But we have also some new companies. Actually we are finalizing some negotiations with a big company from us doing something like that. And also we have another product which is B2C allocated PET is a pet protection service that's made on the same technology. It helps easy location sharing and reuniting of lost pets with their families. So currently focus on these two products.

Locate My Pet wasn't a project that was planned. It was something that you were inspired when you were in Canada to expand your services and you saw how an existing product that you had existing technology could be repurposed and used in a new format. And that all happened after you came to Canada, correct?

Yes, true. I ran on the article in which they said that there is about 180 million dogs and cats in the US and Canada and that each year about 10 million of them get lost and 1 in 3 pets get lost during their lifetimes. And let's say available solutions like different GPS systems haven't solved the problem so far. Then I was in contact with the BEC SPCA and met people over there and I have realized that let's say community is the best ally if your pet has lost. So we decided to build on the same technology a solution that is going to engage the community in helping lost pets and their owners. That's a genuine Canadian product, fully designed and built here.

That's awesome. And we're excited that we were part of that journey and able to help you through the transition to Canada and the expansion of your businesses into North America. So I want to transition to you and your personal journey and tell us what does entrepreneurship mean to you? Why are you an entrepreneur?

Yeah, Blitzy. Early in my life when I, when I was like in the, in the primary school, I recognized that driver in, in myself and that possibly in. In my life I will be that my pet will be self employed, self employment, entrepreneurship and, and, and similar things. So being entrepreneur is definitely kind of a lifestyle. Since it has a significant impact on the entire, entire life because it affects the relations with your family and friends, relationship with the money, how you deal with money, how you deal with your time, with your free time, etc. Etc. And maybe at some point in your life you'll be awarded, but for sure you'll have to make a lot of sacrifices. So as somebody wisely said, you are trading 9 to 5 job for, for a 24, 7 job with the crazy idea that maybe some, some someday in the future you, you have some, some free time. That sounds funny, but there, there is a lot of truth in that. And, but for a real entrepreneur, and I consider myself a real entrepreneur, it is not questionable. There is no other way. Like, like for, for somebody being vegan or, or being active, go to gym. For me, there is no other way.

And so growing up in Serbia, you had this vision and this dream and drive to be an entrepreneur. A lot of our audience members, people that are going to be watching this founder series on igtv, they're from different parts of the world as well. And entrepreneurship culturally may not be acceptable in some areas. It may not be a desired career path. How was it for you growing up in Serbia? Was entrepreneurship something that was challenging to convince other people that you wanted to pursue or was it widely accepted as okay, that is a viable career path? Go be your own boss?

Yeah, I was raised in a family of entrepreneurs. My older brother is also entrepreneur back in Serbia. Also my father was, was working in his own business for a while. So I was raised in that banner. But if you are speaking about environment, where are you building your company? I definitely would say that it is very important. Where are you incorporating your company and how are you dealing with it, especially if your company is in the, let's say, space of the ip. So if you have some IP and you would like to on the long run average and have some return on that, then that's basically the reason why I have decided to fully move to Canada and move my company here. Because my other businesses back in Serbia, for example, lost some value because of the location. So having a company, for example a country like Canada, can contribute much to the value of company and of course in the future for some possible exit strategies.

Well, it's actually a great segue into our next question where I want to talk about work life balance. You've got a spouse, you've got children. As you talked about, building a company in different markets gives you different challenges, but also different opportunities. How has Canada allow you to either have A better, or maybe it's a worse off work life balance. What is that like for you right now?

Yes, let's see. Making a healthy balance between your entrepreneurship career and the family along the other things. That's, that's a tough one, I must say, because, you know, there are certain times when you have to be 100% in your business and there are of course times when you have to hold, hold your horses and to focus on your family, on the kids, on your health or other, other things that are important for your well being. But we have to be fully open and honest because this, this might be also, let's say, some information for upcoming entrepreneurs. So when your company is in a seed phase, you have to be 200% in it because the new business is made purely on energy of its founders. So on other ways, what is essential is to have a plan and to be able to drive the growth of a company in a way to engage others and to add energy of others in a short time. So this is the place where I, for example, made a lot of mistakes in the past and you know, you can burn out like I burnt out a number of times and, or you can get tired of the business or then you usually start to notice little shiny objects. Everything is more interesting. You're losing focus. Being in Canada and being in touch with the launch Academy, with entrepreneurs, etc. Helps me to keep the focus because we are sharing the good and bad stories among us and that for sure helps me to be on track with my ideas, with my business. And of course I'm getting regularly from other entrepreneurs some feedback and that's also valuable.

It's definitely something that I wouldn't say it's unique, but it's definitely more obvious and celebrated within the entrepreneurship community. As entrepreneurs help each other. We are a lot more receptive to giving advice, mentorship, going for a coffee, jumping on a zoom call and having conversations because I think it really is misery loves company as entrepreneurs know how challenging it is. And then when we see another entrepreneur, it's like, I know how you feel. Let me help you because somebody helped me when I was challenged with this. And so what's your advice? What are some of the things that good and bad that you would love to share with other established entrepreneurs, but also new entrepreneurs or even people that are thinking.

Yeah, okay, I consider being an entrepreneur is a marathon that's not a short run. So you have to prepare yourself and to be ready to fail. Also be prepared to let things go without regrets. That's Very important because let's say bad things are going to happen. So also you need to have a safety net. For us entrepreneurs, that means cash money. You have to be able to support yourself and your family if you have one with you in, in the times when your company doesn't work. And the recent experience with the COVID 19 is just confirmation for that. So for me, going back to a regular job would mean losing the focus. So, so you, you have to prepare yourself for your entrepreneur journey. Also the most important thing actually is growing continuously. So you, so you have to recognize your, your strengths, but more you have to recognize your weaknesses and to work on them and of course always be surrounded with positive people if possible entrepreneurs. Keep yourself in motion and be engaged in a local community. That's really important.

Yeah, I definitely agree that entrepreneurship or just the fact that if somebody calls themselves a expert in a certain technology or a guru, a certain aspect of technology, it's all bullshit. The industry is changing so fast and there's so many new things that are popping up and different market conditions, economic conditions, environmental conditions. You have to be on top of things in order for you to continue to be successful. And learning from all the different theories, but also practical applications is very important. What are some of your competitors doing? What are people in other industries doing that allows you to stay on top? And to your last point, being part of community allows you to do that, Surround yourself with other entrepreneurs. Who are some of the people that you've either in Canada or back home in Serbia or in the US that have really influenced you and that you love to recognize on our series that hey, these people helped me get to where I am today.

Yes, I have actually a lot of people. I'm, I'm currently reading four or five books per, per month. So. Wow, really trying to. Yes, right. Actually a part of them reading and, and most of them are listening, of course, using the audible. Uh, but uh, I'm trying to keep myself in motion and uh, to keep myself connected with those people that are, let's say, on the top of that system. If we are speaking about building a business, building a company, there are guys that have been there and they have recognized the systems and they know how to make the value out of some effort. For example, I, I have met you, Sam, and other guys from Launch Academy. You have introduced me to some mentors over there. I spent some time with them, usually no more than half an hour or 45 minutes. But I must admit that a lot of these talks totally changed my perspective. Also for A while I was in in the U.S. in San Francisco actually I have been invited by Y Combinator for interview. That was three years ago and during these trips it was five or six trips that was back in 2018. I have met a lot of people there and I have recognized that mentality and I'm still in contact with a few of them and regularly he's chasing changing new ideas what I'm working on and etc and with some of them I have regular zoom calls. So basically so there for me, main three areas. One is local community like Launch Academy like Uray and other guys from Vancouver. Then there are guys from the US in I'm in contact with them and trying to share and and and get some some value out of that and of course I'm I'm trying to be on top of the podcasts, books and trying to work on different things. Idea is to of course to be fast, to be flexible and to be fully open minded. Awesome.

Bosco, you've always been somebody that stood out to me as someone that is continuously learning and continuously willing to challenge your way of thinking and look at new things. And I'm really excited and happy that we met and continue to be friends. Any specific call to action to our audience of what you'd like to have them do for you or you can do for them?

Yes. Okay. I have mentioned two of two businesses we are currently working on. I'm, I'm, I'm in invited everybody to check our web pages keyprop.com keprop.com and locatedpet.com and to reach me out. I'm, I'm, I I would be very happy to engage and to maybe do some something together or to share some advice or to help somebody to let's say make something. That's my mission.

We are for entrepreneurs by entrepreneurs. We've got a number of different resources that are available. Traction Conference which you definitely take advantage of and been a great participant. We have Traction webinars on a weekly basis. Now if you go to tractionconf IO you can check out all the webinars. We also have a Traction University course program available on our website at the launch BC as well as our Launch your Startup course. So for the budding young entrepreneurs, new entrepreneurs or even the experienced entrepreneurs starting something new, we have a course that's available called the Launch youh Startup that you can take advantage of to help you learn the ups and downs of building a company and learn from the procedures that are out there that can really help you validate your idea, validate the problem that you're trying to solve, and prove this is actually a business idea that's worth pursuing before you quit your day job. But true to the notion for Entrepreneurs by entrepreneurs, we want to help you be successful. So check out our website, check out our resources, subscribe and follow to all of our social channels and the series. But more importantly, share it with your friends. Share with other people that you know are looking at entrepreneurship or might be even facing hurdles or challenges or proverbial brick walls and they need a breakthrough. That's what Launch is here for, is to help them get through those barriers and challenges. Thanks again, Bosco. Really appreciate you taking the time to do this. And check out our next series, hopefully out next week. Launch Ventures is for Entrepreneurs by entrepreneurs. If you enjoyed today's episode of Founder Journey, please share this with your friends, family and other entrepreneurs. If you're ready to start your own entrepreneurial journey and would like some guidance, Please head to LaunchAcademy CA and check out our entrepreneurship course and other online resources like our Launchpad for Virtual Incubation and Mentorship.