Meet Deji Faletti | Founder, Tradescoop

We had the good fortune of connecting with Deji Faletti and we’ve shared our conversation below.

Hi Deji, can you walk us through the thought-process of starting your business?
I got started investing in the stock market during my last year in college, out of curiosity, movies and the desire to make money.. prior to that, I had no knowledge of stocks or even what investing was. First, I invested in CDs, they were simple to understand; put in $X for Y months and make Z%. After that, I opened a brokerage account and bought some stocks just because they were companies I knew. This was in 2005. That decision to invest early proved impactful in my life, and it motivated me to learn the dynamics of the market.

Nearly half of all U.S. households don’t have a stake in the stock market, and a disproportionate number of them are from minority households. I started Tradescoop because I wanted to help people invest in the stock market, first and foremost, but I also wanted to create a platform where stock ideas can be shared easily, and in a transparent manner.

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
Tradescoop is a real-time notification service that sends you trade ideas on stock and options, so you know exactly when to buy and when to sell. We use a combination of fundamental and technical analysis to develop daily trade information, which are then sent to users in real time via SMS. We do the research so you don’t have to. We emphasize Transparency, it is among the things that sets us apart from other services. We publish results from all our trade ideas, as opposed to only showing the winners. Lately, we’ve been exploring our data to enable us gain deeper insight into our selective methods. I am excited about the possibilities that come along with that.

I’ve had the entrepreneurial bug ever since I was little, wanting to start my own tech company that does something big. My first product launch was a prototype. I kept it lean as a cost control measure and gradually scaled up as it gained traction.

Difficulties I faced:
Tradescoop started as a side project. I work a full-time job and keep an active lifestyle, so when I get home on weekdays, I usually don’t have energy to work on my own stuff, but I try. Then I try to utilize the weekends as much as possible. It’s a grind, but it is doable if you are willing to sacrifice.

Naming. Something that is commonly overlooked as “unimportant”. Choosing a name is so much more than making something up. It has to be catchy, descriptive, memorable, and simple.

Staying motivated. It’s the ‘shiny & new’ syndrome in the beginning, but the real journey starts when you hit the hump(s). Write down small victories that indicate you’re reaching your goals. Celebrate small victories by treating yourself. Get a gym membership.

Finding product market fit is crucial. Once you identify this, everything else comes much easier. Until this is found, you’re still trying to decide what you want to be when you grow up.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
If they felt like breaking a sweat, it would be Stone Mountain park! It’s one of my favorite places to workout, and the sunset is amazing.

I also love midtown Atlanta! We’d go scooter riding down the beltline, grab food at ponce city market, or checkout the gallery at the Arts center!

The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
There are so many people that come to mind; The support from my Instagram following has been incredible. Many of our users have been part of my journey since day 1, and continue to show love and support. My close circle of friends who provide valuable feedback and advice, down to the logo design. Everyone that has offered words of encouragement and appreciation, I am grateful for the love and support.

Website: www.tradescoop.io

Instagram: @tradescoop.io

Twitter: @tradescoopHQ

Facebook: @tradescoop