Getting venture capital is not the point

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“The goal isn’t to get money from a VC, just as the goal isn’t to get into Harvard. Those are stepping stones, filters that some successful people have made their way through.” Seth Godin

The goal as they say in business is to find clients that you can satisfy, and satisfy in a way that results in profit. In relation to this,  the most important problem to solve is the one that someone cares about. In finding a niche to successfully pursue in business, a customer focused one is always key.

Your consumer/client/customer would like to make a decision that makes them look intelligent and sophisticated. They would like to justify their decision in the following terms:

  • It saves me time
  • It saves me money
  • Its easy to use
  • I get it all here
  • The service is great

However, an intimate, detailed knowledge of your customer, their habits, likes, dislikes, aspirations and desires is required. Most people do not base their consumer decisions on logic. The ‘why’ in what people do is usually answered by emotive expressions.

“I love their packaging”

“My mother has always used this”

“Android religion”

“Twam”

The ‘why’ is also triggered by  the ‘rational logic’ of the mob. If everyone I consider worthwhile is doing it, speaking well of it, chances are I will want to use it.

Sometimes the problem with a product is not that it does not have funding, the problem is that it does not satisfy the psychological desires of those it wants to sell to.

What is your opinion on the topic?
Muthoni Maingi
Muthoni is a Brand Strategist and Director at Deviate, a company that works with over 15 of the region's most forward thinking brands. She is passionate about growing SME's, Internet Technology and mentoring young women. She also owns and writes for Tamu Tamu and Bridal Kenya and is an active blogger on a wide range of topics such as business, food and technology and has written for CIO Kenya, Yummy News, Affrinovator and Kachwanya. Before starting her own company she was a Production Coordinator and TV Host for the NTV show Urban Hype, an Account Executive at Habari, and a Brand Strategist at Creative Edge.
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