In this episode, Hall welcomes Jason Jacobsohn, Managing Partner of Propellant Ventures. Propellant Ventures is filling the funding gap with a powerful investment focus on fast growth early stage opportunities. They invest in “Game-Changing” companies with highly attractive valuations across underserved U.S. regions.

Jason has always been an advocate for the entrepreneur. He has provided trusted counsel, guidance and mentoring for many in the entrepreneurial and business communities. Jason has worked with several hundred emerging businesses with services such as investor readiness preparation and coaching, strategic alignment of resources, business development, strategic advisory services, capital formation, and resource development. In addition, he has worked with firms in more than 14 different industries including Internet, software, consumer products, business services, media, and retail.

10X rule your Startup

Today, we’ll talk about the 10X rule for Startups.

For startups to displace an incumbent, the offer needs to be 10X better than the current alternatives.

So often, startups go to market promising their customer an ROI of 10, 20, or 30% better.

Unfortunately, that’s not enough to win over customers from an established player.  Your startup is an unknown quantity so you have to make a compelling offer.

A 10X improvement comes through cost reduction and increased productivity.

If I launch a product that is 5X cheaper and provides 5X more value, then I am offering a 10X improvement.

If your business is struggling, then ask yourself, “how is my offering 10x better than the competition?”

If the answer is, ‘I don’t know’ then that may be part of the challenge you have in closing customers.

Try this. Imagine your product is 5X cheaper and 5X better than the competition? What would it look like and at what price?

Now you have a vision of what to build and how to price it.

Thank you for joining us for the Startup Espresso where we help startups and investors connect for funding.

Let’s go startup something today!