Foundersbacker | Empowering corporations to embrace circular innovation

Finding paying customers is the lifeblood of any business , and it should be the top priority when choosing a market segment. Forget trendy ideas, chase customer wallets! There is a question.  Imagining you are a merchant, selling spicy hot pot in a desert with a temperature of 50 degrees Celsius. Would anyone buy it, or would you sell a whole can of frozen Coca-Cola, which would be more popular? On top of that, d o you know that Coca-Cola's early business model was to sell Coke and help their distributor find a way to solve the refrigeration problem so that consumers could more easily buy cold Coke? Generally speaking, there are two main logics for choosing a startup market. I believe that in the end, both logics will lead to the same result. The first logic is to target 80% of the market and solve 80% of the pain points. This is the logic espoused by Lei Jun (the founder of Xiaomi) and Sun Tuoran (a serial entrepreneur in China with 2 IPOs). The second logic is to focus on a...

Before getting into the main topic, I must mention what Foundersbacker generally does:  We turn agricultural waste into game-changing raw materials. To kickstart your entrepreneurial journey, the first and most crucial step is shaping yourself into an entrepreneur. As MIT Professor Bill Aulet posits, there are three fundamental paths to achieving this transformation: 1. Mastery of Technology: Statistically speaking :  While 31% of tech startups survive after four years, achieving truly significant success is much rarer. Only 0.72% become "unicorns," and only 5% of investor-backed ventures generate substantial returns. 2. Market Savvy: Statistics are harder to pin down  for this path as success largely depends on identifying specific market needs and finding the right product-market fit. However, it's generally considered a less "risky" path compared to technology-driven ventures. 3. Passion as Fuel: This is what I want to mention and elaborate in this series, w...