There are several misconceptions about the startup journey which the BimaPe team
and I have come across -
We'll address some of these below:
1. 'Start with why'š”
- The emphasis is placed on the customer problem - but this isn't the starting
point of a business.
- You (founding team) need to start with 'your why' first and then the 'customer
why'
At BimaPe - Abraz & I have benefitted greatly from insurance but observed major
flaws in the customer journey (which we seek to improve).
2. 'Listen to customer' š
- Better to 'observe'; there is a disconnect between what they say they do &
what they actually do
- At a 0 to 1 startup - exercise your Product instinct; your customer won't know
what they need - you do.
At BimaPe - Vishrut, Eashan & Abhinav are building Wallet by BimaPe - no one
asked for it - turns out 5,200+people love it
3. 'Traction will get us funded'ā”
- Quality trumps quantity here; VCs ask detailed questions on funnels & CAC
- Paid acquisition (e.g. high school ambassadors) doesn't cut it
At BimaPe, our goal - 10,000 members (high value - card holders) via Product-led
growth (i.e. 0 CAC) - 52% there!
ā Resolve your insurance misconceptions with Wallet by BimaPe
(https://wallet.bimape.com/) - start by discovering your hidden benefits!
#startups #india
Originally posted by Rahul Mathur on LinkedIn
link: linkedin.com/in/rahul-jaideep-mathur
and I have come across -
We'll address some of these below:
1. 'Start with why'š”
- The emphasis is placed on the customer problem - but this isn't the starting
point of a business.
- You (founding team) need to start with 'your why' first and then the 'customer
why'
At BimaPe - Abraz & I have benefitted greatly from insurance but observed major
flaws in the customer journey (which we seek to improve).
2. 'Listen to customer' š
- Better to 'observe'; there is a disconnect between what they say they do &
what they actually do
- At a 0 to 1 startup - exercise your Product instinct; your customer won't know
what they need - you do.
At BimaPe - Vishrut, Eashan & Abhinav are building Wallet by BimaPe - no one
asked for it - turns out 5,200+people love it
3. 'Traction will get us funded'ā”
- Quality trumps quantity here; VCs ask detailed questions on funnels & CAC
- Paid acquisition (e.g. high school ambassadors) doesn't cut it
At BimaPe, our goal - 10,000 members (high value - card holders) via Product-led
growth (i.e. 0 CAC) - 52% there!
ā Resolve your insurance misconceptions with Wallet by BimaPe
(https://wallet.bimape.com/) - start by discovering your hidden benefits!
#startups #india
Originally posted by Rahul Mathur on LinkedIn
link: linkedin.com/in/rahul-jaideep-mathur
