Startups For the Rest of Us Episode 666 | Entering a Competitive Market, Books for SaaS Founders, and More Listener Questions with Derrick Reimer
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Jun 20, 2023 Derrick Reimer, founder of SavvyCal, joins the discussion, offering insights for SaaS founders navigating competitive markets. He emphasizes the importance of idea validation and understanding customer needs before launching products. Stress management while growing a business is tackled, alongside tips for non-technical founders on finding co-founders or opting for outsourcing. The conversation also highlights essential books for entrepreneurs, providing strategies for effective customer engagement and marketing.
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Validate By Trying To Disprove Your Idea
- Start with a clear hypothesis about why the market needs another alternative and what specific unmet need you will solve.
- Try to disprove your hypothesis by asking hard questions and avoid seeking only validating feedback.
Find Real Reasons Users Would Switch
- Dig into what people dislike about existing competitors through forums, reviews, and niche communities.
- Switching costs matter; identify dislikes strong enough to make users switch suppliers.
Validate Channels Before Building
- Test your customer acquisition channel before you build the product; start the marketing (SEO or cold outbound) today without a product.
- If prospects won't engage now, a product won't magically fix that problem.