His first startup was a cool idea: Uber for Valet Parking. Investors loved it. But the unit economics didn't work out. So he had to pivot. He ended up selling it, but decided to do things differently the second time around.
“It’s the boring stuff that makes money. Sometimes the sexy, interesting things are really great ideas, fun to use, but aren’t money makers. They aren’t durable businesses.”
With Argyle, he didn't start with a cool idea. He replaced a product customers already paid for. His pitch went from "Wouldn't it be cool if?" to "I'll do what they do but twice as well and for half the cost".
"Find a better mouse trap. Build a product that's just a better version of a product that already exists. It's a lot easier to sell."
Why you should listen:
- How to work with design partners to build the first version of your product
- How to use those partners to get credibility and make your first enterprise sale
- Keeping your sales teams small and staying close to the customer for as long as possible
Timestamps:
(00:00:00) Intro
(00:01:04) The Origins of Argyle
(00:04:03) The Aha Moment
(00:15:06) When to Charge for the Product
(00:19:31)Landing the First Customer
(00:21:38) Staying Close to Customers
(00:25:16) From Seed to Series A
(00:32:06) Delivering clear ROI
(00:35:58) Finding Product Market Fit
(00:36:38) One Piece of Advice
Send me a message to let me know what you think!
