#2 The Fresh Outlook: Articles and insights for founders and teams
In this edition:
A round of pre-seed funding marks an exciting and pivotal moment for founders and I derive immense joy and pride from accompanying them on this transformative journey. This is the moment that signifies the early validation of their idea, as well as the confidence of investors in their vision. This milestone brings a surge of excitement, fueling the founder’s motivation to drive their startup forward. It instils a sense of pride in their accomplishments thus far, as they witness tangible support for their entrepreneurial journey. However, it’s crucial for founders to be well prepared during this phase. By being well-prepared, founders demonstrate their passion, commitment, and ability to execute on their vision, increasing their chances of securing the necessary funding to propel their ventures forward.
Here are some possible powerful questions that can help enhance a founder’s readiness during the pre-seed funding:
How can you use your pre-seed funding to validate your business idea and build a minimum viable product?
What are the best ways to spend your pre-seed funding on hiring, research and development, and marketing?
How can you avoid common mistakes and pitfalls when spending your pre-seed funding?
How can you measure and monitor your progress and performance with your pre-seed funding?
How can you prepare for your next funding round with your pre-seed funding?
To further delve into these questions and gain comprehensive insights, this article, “You’ve just raised pre-seed funding — how should you spend it?”, provides valuable guidance and actionable advice for founders navigating this critical stage of their entrepreneurial journey.
A recurring subject that often comes up in my conversations with founders revolves around the significance of actively engaging with both our most satisfied and dissatisfied customers. This deliberate approach allows us to gain valuable insights that drive informed decision-making and foster business growth solutions. Our best customers are loyal advocates, and nurturing these relationships is crucial for sustaining success. On the other hand, by comprehending the needs and concerns of our most dissatisfied customers, we can uncover pain points and identify areas for improvement, which can lead to transformative innovations and increased customer satisfaction.
This article from Harvard Business Review, “Do You Really Understand Your Best (and Worst) Customers,” challenges you to ask yourself some powerful questions:
As you analyze your firm’s revenues and profits, or as you make plans for the future, what’s your unit of analysis? Do you focus on geographic regions, specific brands or products, or sales channels? Or do you focus on individual customers?
How well do you know your best and worst customers? Do you have a clear picture of who they are, what they want, and how they behave?
How do you adapt and evolve your customer strategy as your business grows and changes? How do you anticipate and address the potential risks and opportunities that your customers may face in the future?
Thank you for reading. If you liked it, share it with your friends, colleagues and everyone interested in growth opportunities in the technology space. Subscribe below and follow me on LinkedIn or Twitter to never miss updates again.
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