What Determines Whether A Startup Will Fail Or Succeed In The Market?
Kim & Todd Saxton
Clinical Professor of Marketing
Associate Professor, Indiana Venture Faculty Fellow
We’re both very passionate about enabling the innovators.
Kim & Todd talks about how the entrepreneurial journey involves navigating uncertainty rather than taking risks. They talk about how if you can handle uncertainty and create opportunities as well as create challenges then you’re in a better position to not just navigate but to take advantage of that uncertainty to create a positive inflection point for your business.
They also talk about the two main reasons why startup fails – one is the lack of good market fit and the other one is they are running out of money. Market fit refers to how well a company fits into its target audience. It’s also known as customer fit or product fit. If you don’t know who your customers are, you won’t be able to create the products they want. You may think you know what your customers want, but if you don’t test your assumptions with real customers, you could end up building something nobody wants.
Having good discovery skills is important for startups.
Join host Sannah Vinding as she explores the insights of Adam Anderson on building strong teams, the power of verbal communication, customer engagement, and the value proposition in this enlightening episode of the “Mind the Innovation Leadership Podcast.”
In this episode, Sannah welcomes the brilliant and accomplished Sander Arts to the show. With an impressive background in global management, digital transformation, closed loop marketing, and strategic partnerships, Sander brings a wealth of knowledge and expertise to the table. Together, they explore the fascinating realm of marketing in the tech industry, dissecting its successes, failures, and untapped potentials.