Episode 17: A brave new world for tech startups
On this episode of the Common Sense Marketer, we spoke to Thomas Leahy who is the Managing Director of Synepta Group, a business acceleration company that invests in healthcare IT companies. In this podcast, Thomas talks about Synepta Group and shares some of the biggest challenges tech startups face heading out into this new modern world.
Thomas describes two major struggles young entrepreneurs have these days:
- Products are getting easier and easier to develop every day with new technologies but entrepreneurs need to spend time understanding their competition, how their product is going to be positioned and their unique value. Capturing attention is getting harder and just having a good product is not enough.
- Entrepreneurs need properly test and validate models in order to constantly iterate. Attracting early clients is extremely important because they are the ones that help you understand your product from a customer view point in order to truly understand the problem you solve and gap you fill in the market.
But just having the above two thing nailed does also not guarantee success. In this world of infinite choice where the buyer is in control of the buying process, credibility, trust and access to a defined channel are other issues tech companies have to tactical quickly.
We went out to partners that we knew were having challenges and wanted to bring something into the market to satisfy that. They were established. They had good reputations. But they didn’t have the offer. And, in the matter of literally a month, we went from 40 to 500 clients
Not only do tech start ups have constant competition, but the path to monetization is often not a direct line. The sales and marketing strategies for these companies to acquire customers need to be unique and the same old approaches just don’t work.
Listen to the full interview now…
About Thomas Leahy
Thomas Leahy has been in the health care industry for close to 30 years and is the Managing Director of Synepta Group. Synepta group helps early-stage health care companies and IT companies accelerate their growth in this dynamic and growing sector.