FireStarter  by Entrepeneurs in Lehigh Valley, PA

FireStarter by Entrepeneurs in Lehigh Valley, PA

Updated Nov, 11th 2012

  1. What surveys should Firestarter run to their early users? What questions should they be asking in this survey?

They should run a customer development survey with three important questions:

-Tell me about the last time you've invested on our platform?

-What would the ideal solution look like for crowd funding look like to you?

-Have you ever invested in startup companies before? If yes, why? If no, why

 

  1. 2. What are the metrics they should track to determine if they have product/market fit? What are the vanity metrics they should avoid?

-They should track: number of weekly (depending on how many new startup ideas are posted) returning investors, number of new projects posted, size of invested money, similarities & differences between funded ideas

-Vanity metric would be: page views, total traffic, number of clicks per page, returning entrepreneurs

 

  1. 3. How will Firestarter know when they’ve hit Product-Market fit? What should Firestarter do next within the next month to get there?

They will know if they've hit Product-Market fit when their tool becomes the go to tool for people interested in investing in startups.  

To get there they should understand what's missing in their product that can make their solution a must-have or appeal to a demographic they don't know about, as well as re-validate the problems they are trying to solve.

 

  1. 4. (Optional) Is the market big enough? If so, how can Firestarter be differentiated in the marketplace?

The market is big enough, according to the Job Act Infographic, 46% of americans don't have any money invested. For Firestarter to differentiate itself it needs to focus on a vertical in startups, provide a different user experience; like connecting the investment money to bank statements or to games.  

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