We have a guest post again by Ashwin Bhambri on what the next things the teams should focus on now that Startup Reykjavik is over. I think he has good points and strategies on moving again. It is hard after all the hype and now it is real life, the teams needs to get on the road, meet customersand try to do what I call the hardest of things to do… SELL. I have included the new Startup Curve, which is what typically happens after a big rush of media blitz, everyone wanting to meet with you as the founder and everyone saying how you crushed it in the presentation (guilty as charged!) etc but the reality is that the teams are still in their infancy and they need to go through the Product to Market Fit phase and then through creating a Repeatable Business Model phase and while doing all this they need to build a team culture, develop processes, maintain customer interest and solicit investors if the teams are starting to run out of money. Did I mention that doing a startup is HARD!

Photo Credit: Mike Anderson

Photo Credit: Mike Anderson

————————————

Startup Rekyjavik has been an amazing experience and it’s now come to an end.  As startup founders we are faced with the question where do we go from here and what should be our next move. This is a typical scenario faced by every startup exiting an accelerator around the world

Startup’s move on with investor liaison, completing the product and the tons of other things start-ups do nevertheless there is a one thing that is a must do for every startup exiting an accelerator program. Start meeting customers and focus on sales, I repeat start selling whatever you have built in the last three months irrespective weather its good, bad or ugly

Sales and getting customers is the reality that’s hit me in the face today. I am still hesitant about our MVP and think it’s not refined enough however I do have to take into account that I have just few days left in Iceland and if I dont make an attempt to sell this is going to be a lost opportunity. Secondly, talks with investors are going to be futile if you cannot demonstrate customers interest and last but not the lest you wont believe how big a motivator getting customers is. Taking a page out of the ‘Do more faster’ book authored by Brad Field & David Cohen refer to the ‘Be Tiny Until You Shouldn’t Be’ chapter where a startup failed to raise funding but started selling and got cash flow positive

I have a few sales tips that could work for whatever its worth

  1. When you meet investors, ask them for sales leads. This would build their confidence in your startup
  2. All start-ups share the noting that their product is not ready so engage potential clients by asking for feedback and you can sell to the interested ones down the line
  3. Invite potential customers to attend focus groups. This might be a tough one to pull off but works amazingly well
  4. Contact you mentors and ask them for references
  5. Email marketing works
  6. Don’t forget approaching friends & family
  7. Use LinkedIn, it’s amazing

Would it not be amazing to connect with an investor with the alibi ‘we got customers and need money to service them’ maybe you can help us with that.

Related articles