Customer Discovery, Validation, and Acquisition for Early-Stage Growth | Jeff Eversmann - E23

Jeff Eversmann is an experienced design engineer, fractional CFO at Miranti Growth, and GP at Longview Tech Ventures. Drawing from his career across various high-level roles, Jeff explains the continuum from product market match to alignment and finally to fit. He discusses examples, especially Uber's market strategy, and elaborates on how early-stage founders should approach achieving and measuring product market fit. He shares insights into venture capital dynamics, emphasizing the importance of founder-investor compatibility, effective fundraising strategies, and the critical role of executive coaching. 

Key Takeaways:

• Signals, tools, data and metrics early-stage founders can use to assess product-market fit

• Importance of achieving customer validation before Series A funding

• Why balancing investor advice with the founder's vision is crucial

• How founders can effectively network and use their connections for successful fundraising

• Ways to determine pivot points and avoid distractions during a product’s life cycle

• Understanding venture capital and early-stage investment dynamics

Key Timestamps:

(00:00) - Introduction

(00:50) - Defining Product Market Fit

(05:25) - Product Market Fit Challenges for Early-Stage Founders

(08:20) - Customer Discovery and Validation

(09:58) - Raising Series A and Selecting Suitable Marketing Channels

(13:35) - Dealing with Investor Pressure in Decision-Making Processes

(16:45) - Longview Tech Ventures Investment Criteria

(21:46) - Challenges of First-Time Founders

(23:30) - Market Sizing and Unit Economics

(28:32) - Raising a VC Fund

(32:50) - Understanding Internal Product Updates

(33:14) - Raising Funds and Communicating with VCs

(38:59) - Importance of Founder-VC Alignment

(42:17) - Dealing with Awkward Pitching Moments

(47:24) - Building Startups and Raising Capital

Key Topics Discussed:

Funds and Founders, Abhinav Sinha, Abhi, Austin Entrepreneurs and Founders, product-market fit, customer validation, early-stage investments, Series A

Mentions:

Website: https://www.merantigrowth.com/

https://www.longviewtechventures.com/

LinkedIn: https://www.linkedin.com/in/jeffeversmann/

Mentions: War of Art by Steven Pressfield, The Mom Test by Rob Fitzpatrick, The Innovator’s Solution by Clayton Christiansen

Check out the Funds & Founders Community:

Reach out to Abhi at abhinavsinha.podcast@gmail.com

Website: fundsandfounderspodcast.com