Investment · 18 November '15
Understand your market and customers!
Impress investors with the fact that you not only know who your first 100/1000 customers are and the competitors who are presently serving them or competing for their attention, but can go further and answer some of the deeper questions.
- What fundamentally drives demand in the market?
- Why are customers looking for a product like yours?
- Why they can’t presently find it in the market?
- Why are competitors failing these customers?
- What’s the best solution to satisfy the unmet or latent demand?
- Why now is the right time?
Be the experts on the topic of your target customers and market segment. To paraphrase the famous investor and entrepreneur Peter Thiel, “a good start-up should have discovered a big secret – that secret is how your team can crack open a market and by doing so make a lot of customers happy and investors a lot of money.”
Founder, Capital Enterprise