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Bag the Lion!

Entrepreneurial Spark is growing to be the world’s biggest equity free business accelerator…

Entrepreneurial Spark is growing to be the world’s biggest equity free business accelerator…

I get to see so many terrific early stage entrepreneurs; great ideas and people who want to drive them forward. From web, to digital, to food and drink, to products, to fashion, to services. From Apps that will change the world, to must have gadgets, to delicious new foods.

Business models from subscription, to franchising, to distribution, to freemium, to retail to data. How can they squeeze value out of their new ventures?

But what never ceases to amaze me in all the companies I deal with is the lack of attention to the customer and the sheer nonchalence in gathering customer insight. Building a gorgeous looking App or slick mobile digital ‘game changer’ is all fine and well. It may be a thing of beauty, but unfortunately it will go nowhere [and many do] as the entrepreneur has not worked out who indeed the customer is and if indeed they are prepared to pay.

Creating a sticky proposition that has customer attention right away is what is needed, but is lacking in so many startups.

So, at Entrepreneurial Spark we focus and will always focus on customer insight.

  1. Is it gonna make me feel good?
  2. Is it gonna do something for me?
  3. Am I gonna want to tell my mates?
  4. In short Mr Entrepreneur – what’s in it for me?

Getting this right at the beginning and sense checking it as we go along is common sense right? Well not for 50% of today’s startups!!

And why don’t they get money? Cause the angels are asking themselves the exact same questions.

So, my enablement to all early stage entrepreneurs is: don’t be scared of the lions. If they like what you’ve got… you may live to fight another day.