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He helped make DBA digital at the turn of the millennium. Was headhunted for the position as CEO of a young Just Eat by Jesper Buch. He has been the CEO of Miinto. He founded and sold Hungry for a three-digit million dollar sum. Nevertheless, Morten Larsen has been a discreet person who has been a rare guest in the business media and as a speaker over the years.
However, that changed overnight when he took the chair in The Lion’s Den this season. Already after the first episode, he noticed that Mr. and Mrs. Jensen suddenly know who he is. So when the serial entrepreneur commented “great initiative!” to our new founder network, which is all about networking and exposure, we had to ask him about his own relationship with the spotlight and networking – and whether there is a before and after The Lion’s Den.
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“It’s not that I don’t see the value, but it must always be compared to what else you could do with your time as a founder – because you’re just so damn busy. I went straight from DBA to Just Eat to Miinto to Hungry. Three fairly large, prominent startups, so I probably felt I had enough to do,” Morten Larsen tells TechSavvy.media.
Networking in a different era
Morten Larsen’s career as an entrepreneur started in a different era. Pitch events and large community events for the ecosystem were not a thing. And although they have been added along the way, the new lion hasn’t been in many places as either audience or speaker when the ecosystem meets.
“There are events all the time, and I get invited to all sorts of strange things. It’s cool and fantastic, but I would also say that if I participated in everything, it would quickly take 20% of my time,” says Morten Larsen.
That doesn’t mean he doesn’t see the value in networking and seeking exposure.
“In terms of networking, I’m all for a new startup I’ve invested in to seek out and build their own network. I’ve done that too. I have a huge network – it’s just created in a different way than today,” he says.
One of his closest allies is Jesper Buch, whom he met through his work at DBA back in 2003. Similarly, much of his network is built through professional working relationships. In this way, he already had a strong network when he first founded Hungry in his mid-30s. And connections still play an important role in his new job as an investor.
“I use my network a lot – also remotely with Linkedin, SMS and on the phone. We help each other if there is a need – and it can be anything from making connections to a specific negotiation,” he says and adds:
“That’s the big difference for a start-up entrepreneur: it’s clear that they have to go out and network in some way, and I have deep respect for that.”
Don’t want to be a self-proclaimed expert
Morten Larsen’s network has been built up very organically – and in retrospect, it has gone very well. Similarly, he only sought out media and speaking engagements when it made sense for the company he represented.
“It’s easy to appoint yourself as an expert in everything, and I find that a little difficult. There’s a difference between having an opinion on everything and being an expert. That’s why I only took the interviews that I thought made sense for Hungry,” says Morten Larsen.
In a busy startup life, he has never sought to become a personal brand. However, that has changed a bit with his participation in The Lion’s Den, where there is much more focus on his person – and that’s new for him.
Have a plan – and avoid the innovation circus
While many entrepreneurs have a thinly veiled dream of gracing the cover of Børsen or taking the big stage at TechBBQ, Morten Larsen has a much more pragmatic approach.
“You have to ask yourself why you’re doing it. Do you want to nurture your ego and your own brand, or does it benefit the company? Some can do both at the same time, and that’s fine,” he says.
As CEO of Hungry, an article in Finans or Børsen would only be of value to him if he were to talk about selling the company. If it was about getting more customers in the store, BT or Ekstra Bladet were more relevant.
Similarly, he teaches the entrepreneurs he invests in to be very conscious when spending time at events or in the press. Because both are important, but they cost time and money.
“I have a very strong belief that we should be careful how we spend our time. Because it can quickly be stolen by something that doesn’t create value, and then you don’t gain momentum,” says Morten Larsen.
