Fail, Learn, and Improve: Anton Hermann's Insights on Testing Strategies for Startup Sales
September 19, 2023
🚀 In this episode, Anton reveals the mistakes he made and the lessons he learned in his entrepreneurial journey. Here are three key takeaways:
1️⃣ Ideal Customer Profile: Anton emphasizes the importance of understanding your ideal customer and going deep into a specific audience. Building a product for everyone may seem tempting, but focusing on a specific target audience increases your chances of success.
2️⃣ Pricing Strategy: Anton shares his experience of raising prices and how it actually benefited his business. By adjusting their pricing, Space Goats managed to increase revenue, reduce operational effort per customer, and attract bigger clients. Don't be afraid to value your product or service and adapt your pricing strategy accordingly.
3️⃣ Process before Expansion: Anton admits that hiring a large team before establishing a clear process was a mistake. Having a well-defined process in place before scaling up is crucial for efficient operations and sustainable growth. Learn from his experience and ensure a solid foundation before expanding your team.