How to Find Your Target Customer and Test Your Product: Launching Your New Idea with Megan Patel (Plus: Making Funding More Equitable and Scaling Your Company Culture)

Learn how to think through a product launch, from identifying target customers to developing strategic partnerships. Startup advisor and investor Megan Patel will help you understand some of the innovative ways entrepreneurs are reducing bias in venture capital funding by evaluating — and being evaluated by — their peers. She also walks through the step-by-step process of developing a product so it’s tailored for customers in a way that will inspire them to actually consume it. Plus: when is it time for a startup to scale, and how can a founder ensure that the company culture scales along with it? Finally, Megan discusses the complex challenge of funding entrepreneurs in countries with political instability, investigating potential risks and outlining criteria needed to ensure success. In this episode, you’ll learn about: startup advising, startup innovation, venture capital, funding, the entrepreneurial journey, video streaming platform, direct revenue, target audience, initial solution, strategic partnerships, business ventures, entrepreneurship in politically volatile regions, venture capitalists, scaling startups, market-ready products, being a perfectionist, cultivating a sense of adventure and discovery, bias in funding, peer evaluations, product market fit, scaling a company culture, talent distribution, entrepreneurial challenges, startup success, high-stakes funding, business strategy, risk assessment, and “done is better than perfect.” Follow The Funding Blueprint, hosted by award-winning podcaster Cody Gough, on YouTube or your favorite podcast app, to be notified about new episodes for free every week. And get involved in the conversation by joining StartHub's community of engaged startup founders, VC investors, and other entrepreneurs on Discord: https://discord.gg/4MjDJS8wsR  Megan Patel advises startups and companies looking to enter new markets, defines their target customer, rapidly tests concepts and innovates throughout their organization. She has experience guiding early phase startups, launching new products, and designing customer experiences for Fortune 500 companies. Prior to her current work, Megan was the Director of Innovation at Chicago Beyond, a private impact investor, where she built their investment pipeline by developing and launching unique ideas, approaches, and concepts. Megan is based in New York. Connect with Megan Patel on LinkedIn at https://www.linkedin.com/in/meganpatel/  When we were talking about a hypothetical company that could serve as an alternative to YouTube, designed to be creator-first, focused on transparency and giving video content creators a steady stream of revenue? Then check out Giveo at https://giveo.com  Music track: "Cinematic Funk" Source: https://www.lokhmatovmusic.com/  Free Background Music by Yevhen Lokhmatov If you're impressed by the incredible editing in this episode, then get in touch with our tremendous editor Sean Petell for your sound design or audio/video production needs. Special thanks to Sean for making this episode look and sound so good! You can reach Sean at https://seanpetell.com/