Product Market Fit Ep52: How this startup became the #2 fastest growing company in America — Product Market Fit podcast (#startups #growth)
Ready to revolutionize the way you view business and entrepreneurship? Join us in our enlightening chat with Howard Bornstein, the president of CharterUp. Howard's transition from investor to operator provides a distinctive vantage point and he generously shares his unique insights with us. He dissects his three-question framework for evaluating startups, explains his rule of 30, and unveils how CharterUp, a transportation logistics platform, differentiates itself from household names like Uber and Lyft.
A highlight of our conversation with Howard is his emphasis on product-market fit. He explains what it looks like from an investor's perspective, and how entrepreneurs can recognize early signs of it. His example of how CharterUp found success through customer referrals underlines the power of a potent product-market fit. But that's not all, he also unravels the importance of identifying opportunities for disruption in industries lacking innovation and national players.
Finally, we probe into the untapped potential of electric transportation and autonomous vehicles. Howard also shares his predictions about the future of the transportation industry. His experiences and perspectives provide an invaluable guide for those navigating the intricate world of startups and fundraising. As we cruise through this enlightening chat, Howard's wisdom will leave you with more than just a new perspective, but a roadmap to success. This episode is a must for anyone eager to understand the terrain of entrepreneurship, fundraising strategies, and market trends. Tune in!
Chapters:
(00:00) Introduction
(02:00) Message about 10/7 and the attack on Israel
(04:59) What is CharterUP?
(07:21) Howard's background
(09:11) How do you define product-market fit?
(10:38) 3 questions every founder needs to be able to answer
(14:43) Stories from the early days
(16:52) Identifying your ICP (ideal customer profile)
(22:06) Howard's "Rule of 30" thesis
(25:28) How narrow should your ICP be?
(33:53) B2B vs. B2C
(37:00) Investors vs. founders
(41:15) Tips for fundraising
(44:40) Predictions about disruption in transportation and energy
(48:06) Lightning round
(52:52) Final words
Guest contact:
https://www.charterup.com
https://www.linkedin.com/in/howardbornstein/
Sponsor:
This podcast is brought to you by grwth.co. Grwth offers fractional CMOs, paired with best-in-class digital marketing execution to support early-stage startup success. With a focus on seed and series A companies, Grwth has helped a number of SaaS, digital health, and e-commerce startups build their go-to-market function and scale up.
To learn more and book a free consultation, go to grwth.co.
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