Finding your first customers is an ongoing battle for some founders. So what should you do to get your product seen and picked up in the market?

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With this in mind, we talked to Lee McQueen, CEO, and Founder of Phoenix51- a talent assessment platform that is creating a fairer workplace for everyone. Lee, who won The Apprentice in 2008, shared some actionable insights to help you fuel your startup.

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Here are a few takeaways that Lee shared:

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⚡Validate your startup idea

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In the early days, Lee asked professionals in his network to review his business idea. The suggestions and feedback he received for Phoenix51 helped him to shape and develop the platform.

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Idea verification is the process of testing your startup idea to understand its viability. Start by defining a problem, the solution you’re keen to offer, and your target audience. Share these ideas among your network or mentors to get feedback.

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It is cost-effective to verify your idea through conversations with your target audience, found within your network, prior to investing in the product build or initial marketing.

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A startup advisor or mentor can be your best bet to validate your business idea. Is there a business idea that you want to share with us? Let us know by reaching out to us here.

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⚡Don’t put all your eggs in one basket

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Ensure you spread the risk, so don’t focus on only a couple of big clients. As a rule of thumb, each client should be accountable for no more than 12% of revenue.

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Clients and customers changing their minds are commonplace, but having a range of clients can de-risk your business growth. So, how do you build a sales pipeline?

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Begin with identifying your ideal customers. Next, locate individual decision-makers within a company and create content to help them understand what you are offering. Finally, consider who in your team is best to meet with each of the decision-makers to match skill sets and interests.

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⚡Hire people with similar core values

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Phoenix51 developed a strong team and board to achieve its planned mission. Lee emphasised the importance of hiring team members that share similar core values to help develop a cohesive working culture.

Look out for candidates who match your core values and have the complimentary skill-set to grow your startup. The right team will offer high-quality work and therefore, the results.

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Focus on quality over quantity

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Lee refocused his team at his earlier venture, Raw Talent, from a pure revenue goal to creating a profit-focused pipeline of opportunities. This approach helped them to reach clients that helped the company flourish and produced higher profit margins (albeit at the expense of the glory-getting revenue numbers.)

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The takeaway is, do not focus on growth at all costs, work on ensuring you have a profit-focused approach to keep your business buoyant at all times.

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How did you build a long-term relationship with customers? If you would like to share your journey or have any questions on how to tackle it - we would love to hear from you!

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PS To watch the full interview with Lee, click here.

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