#336 - Victor Kristof, CEO of DemoSquare - on resilient customer-driven innovation.

This podcast interview focuses on the entrepreneurial journey to democratize political data and anticipate regulatory changes. My guest is Victor Kristof, Co-founder and CEO of DemoSquare.  Victor is a fascinating individual with a unique blend of academic excellence, entrepreneurial spirit, and a passion for leveraging technology to enhance democratic processes. He holds a Ph.D. in Machine Learning from Ecole Polytechnique Federale de Lausanne, where he developed algorithms and statistical models to study human behavior within social and political systems. That research became the foundational idea behind DemoSquare, a SaaS startup he co-founded in November 2022.  Their mission: to "democratize democracy" by making political and regulatory data more transparent and accessible with artificial intelligence. It will change how companies and their public affairs teams navigate the complex world of politics and regulation and, potentially, how citizens engage with democracy. And this inspired me, and hence I invited Victor to my podcast. We explore the journey of transforming academic research into a change-making political data platform. Kristof shares his lessons learned by doing customer interviews and pivoting in the right direction. He highlights the value of sharing ideas openly, adapting to constant change, and maintaining resilience in the face of rejection. Last but not least, he offers practical advice on investor relationships, sales strategies, and personal stress management.  Here's one of his quotes I've heard several times people saying, "I have this super cool idea. I don't want to share it with anyone until I do it. I had the complete opposite experience. Even when it wasn't completely ready, we were not selling it, just talking about it to people, not even in a professional or formal context. You go to a party, you go to a family gathering, and you meet with some friends. You just share your ideas and see what's happening. The most important feedback I got came from these informal discussions. I cannot count how many introductions to potential customers I've gotten through these informal discussions. During this interview, you will learn four things: How to gather feedback and validate your idea - and use both positive and negative feedback to refine (or even pivot) your product. How finding the right co-founder can have a multiplicative effect on your business. How to stay resilient in the Face of Rejection from both customers and investors. What to look for to select investors who will make a difference for your business.  For more information about the guest from this week: Victor Kristof Website: DemoSquare Subscribe to the Daily SaaS Reflection Get my free, 1 min daily reflection on shaping a B2B SaaS business no one can ignore. Subscribe here Yes, it’s actually daily. And yes, people actually stay subscribed (Just see what peer B2B SaaS CEOs say) My promise: It’s short. To the point. Inspiring. And valuable. Learn more about your ad choices. Visit megaphone.fm/adchoices