Fri, 22 March 2024
Product Research Practices Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Most founders talk to ten or twenty prospective customers and then start building their product. It takes a minimum of fifty customer discussions to understand the problem and how to solve it. If you know the space and come from the industry you’ll be in a better position to research it. If you are new to the space then it’s best to recruit a domain knowledge person to join the research team. This will speed up the process of understanding the basics of the industry. It also helps in contacting potential customers for interviews and discussions. In the discovery phase you’ll want to hear not only about the problem to be solved but also about the customer himself. Ask questions such as how did you find the solution you are using now? How did you choose this solution over other solutions? What was unique about the product that led you to choose this one? How important is the product in your overall workflow? Look at the problem through the customer's eyes and with empathy for the customer. Place yourself in as the customer and ask how else you can solve the problem. It takes a substantial amount of time with customers to understand their problems and how it fits into the overall workflow.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
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Fri, 22 March 2024
In this week's episode of Investor Connect, Hall T. Martin engages in a discussion with a startup representative from Indochina. The entrepreneur expresses their funding aspirations, aiming to secure between $500,000 to $1.5 million, with a deadline set for securing a lead investor by March. They highlight the importance of conducting thorough due diligence walkthroughs and leveraging existing investor networks to expand their reach. They emphasize the significance of proactive engagement and strategic alignment with investor preferences as essential components for navigating the fundraising process successfully. The episode provides valuable insights into the nuanced dynamics of fundraising, showcasing how startups can adapt their strategies to navigate challenges effectively. By fostering proactive engagement, leveraging networks, and exploring alternative funding sources, entrepreneurs can enhance their chances of securing the investment needed to fuel their growth and development. _______________________________________________________ Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
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