Robin Singhvi, founder of SmartCue joins me to talk about his experience with founding and fundraising. He reveals he secured 15 investor conversations, and shared his tips on how to create a personalised product demos that are relevant to buyers and prospects.
He advises founders to find 20 people who fit their persona and send them a cold email to validate their venture before seeking funding. He also suggested that they should start with smaller investors and work their way up, avoiding bad or dumb money. Robin recommended reading "The Mom's Test" to get meaningful responses in interview and emphasised the importance of understanding the emotional and social needs of product marketers to refine interview questions.
We cover several important topics related to entrepreneurship, including the challenges of fundraising, the importance of really understanding your customer, and how to create a successful business without raising a lot of money.
The interview also covered the challenges that solo founders face, and the importance of understanding the problem before attempting to solve it, while avoiding attachment to the outcome. Regarding fundraising, Robin discussed the dangers of accepting any money, and advised founders to think about the "right money," which includes not only the funding but also what else the VC can offer in terms of introductions, avoiding mistakes, and help with hiring, compliance, and legal. He discusses why to start with smaller investors and work your way up, rather than going straight to big funds.
Other topics discussed in the podcast included the importance of referrals, reducing CAC to LTV ratios, and how VCs can dictate salary and other terms when investing in a company. Robin and Marcus also discussed the importance of validating a venture before seeking funding, and how to tell the difference between good, bad, and dumb money. Overall, the interview provided valuable insights into the world of entrepreneurship and fundraising, and offered practical advice for those seeking to create successful businesses.
Contact Robin via linkedin.com/in/robinsinghvi
Websites
- getsmartcue.com (Company)
- SmartCue.substack.com (Other)
Email: robinsinghvi@gmail.com
Twitter: robinsinghvi
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