Challenge

I work with a lot of young entrepreneurs in the start-up ecosystem, partnering them on their journey  from the Inception stage to the Growth stage. A lot of times, these extremely talented entrepreneurs  find it difficult to break out of the technological biases of their minds and connect with investors and  customers. This comes across as a major challenge and results, in a lot of cases, in disappointment and  untimely death of their ideas.

Solution  In my associations with these entrepreneurs, I help them understand the importance of Storytelling and  help them inculcate it in their culture to ensure that they are able to understand and appeal to the  human side of their investors and customers.

Application  In one my interventions, I came across an entrepreneurial duo who had come up with an idea that had  the potential to become a pathbreaking disruptor in the existing market. However, even with a brilliant  solution, riding on future-focused technology, they were not making any headway commercially as they  were repeatedly failing to garner investor confidence and wallet share.

As the first step to add value with my association, I studied their case and found the following:

•  They had a very strong domain expertise

•  They had future-focused technology as their platform

•  They had a meticulously defined Project Plan

Everything seemed watertight and impenetrable.

That made me thinking and I accompanied them o their meetings with investors. And, that’s when I  understood their challenge:

•  They came across as too perfect – too good to be true

•  They talked too technical – focusing too much on their solution and the technology behind it

•  Their focus was on the brilliant technology they had come up with

All impressive but none convincing to a buyer to opt for that solution. And that was exactly how the  investors were looking at it. And that made them skeptical and apprehensive about the marketability,  sale-ability and sustainability of the solution.

As a strategy, based on my observations, I advised the entrepreneurs concerned to “stop talking about  the technology and the features of their solution”.

I asked them to help me find the answers to the following questions:

•  What is that “one thing” that is currently available to me, as a customer, which this solution will  make redundant?

•  Why do I need this “one thing”?

•  Would I face any difficulties if I don’t get this “one thing”?

•  Can this solution compensate for my “loss”?

•  Can this solution add any value to my lifestyle?

Once they were able to give me satisfactory answers to these questions, I helped them prepare their  pitch afresh focusing on the human elements like needs, wants, desire, social acceptance, failure and  success. A story that people can relate to and visualize.

This new approach helped them connect better with the investors and make the investors believe in  their vision and provide the much needed funding to get them off the blocks.

Today, the startup is in its growth phase, having recently secured its 7th round of funding.

Insight  This taught me a valuable lesson that our approach to solving a business problem should not be  restricted to the numbers but should also encompass the finer elements of the human beings involved  in or associated with that problem/solution.

Approach  Although I got positive responses with my approach that was used to solve this problem, I believe that  with the insights I got from this course would help me create a more structured, efficient and scalable  model of my approach.


Challenge I work with a lot of young entrepreneurs in the start - up ecosystem , partnering them on their journey from the Inception stage to the Growth stage . A lot of times , these extremely talented entrepreneurs find it difficult to break out of the technological biases of their minds and connect with investors and customers . This comes across as a major challenge and results , in a lot of cases , in disappointment and untimely death of their ideas . Solution In my associations with these entrepreneurs , I help them understand the importance of Storytelling and help them inculcate it in their culture to ensure that they are able to understand and appeal to the human side of their investors and customers . Application In one my interventions , I came across an entrepreneurial duo who had come up with an idea that had the potential to become a pathbreaking disruptor in the existing market . However , even with a brilliant solution , riding on future - focused technology , they were not making any headway commercially as they were repeatedly failing to garner investor confidence and wallet share . As the first step to add value with my association , I studied their case and found the following : • They had a very strong domain expertise • They had future - focused technology as their platform • They had a meticulously defined Project Plan Everything seemed watertight and impenetrable . That made me thinking and I accompanied them o their meetings with investors . And , that ’s when I understood their challenge : • They came across as too perfect – too good to be true • They talked too technical – focusing too much on their solution and the technology behind it • Their focus was on the brilliant technology they had come up with All impressive but none convincing to a buyer to opt for that solution . And that was exactly how the investors were looking at it . And that made them skeptical and apprehensive about the marketability , sale - ability and sustainability of the solution . As a strategy , based on my observations , I advised the entrepreneurs concerned to “ stop talking about the technology and the features of their solution ” . I asked them to help me find the answers to the following questions : • What is that “ one thing ” that is currently available to me , as a customer , which this solution will make redundant ? • Why do I need this “ one thing ” ? • Would I face any difficulties if I do n’t get this “ one thing ” ? • Can this solution compensate for my “ loss ” ? • Can this solution add any value to my lifestyle ? Once they were able to give me satisfactory answers to these questions , I helped them prepare their pitch afresh focusing on the human elements like needs , wants , desire , social acceptance , failure and success . A story that people can relate to and visualize . This new approach helped them connect better with the investors and make the investors believe in their vision and provide the much needed funding to get them off the blocks . Today , the startup is in its growth phase , having recently secured its 7th round of funding . Insight This taught me a valuable lesson that our approach to solving a business problem should not be restricted to the numbers but should also encompass the finer elements of the human beings involved in or associated with that problem / solution . Approach Although I got positive responses with my approach that was used to solve this problem , I believe that with the insights I got from this course would help me create a more structured , efficient and scalable model of my approach .