Investor Connect Podcast

How To Answer Questions Using Synthesis Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Synthesis can help in answering questions. Here are some key steps to answer questions: First, understand the question. If you don’t understand it, ask for clarification. Try paraphrasing what was asked to ensure you understand the question. Determine what form the answer will take. For example, if the question starts with “How many”, then the answer will be a number If the question starts with “Why”, then the answer will be a reason starting with “because”. If you don’t know the answer, then admit to the limitations of your knowledge and give what information you can. When you finish answering the question, then stop and wait for the next question. Don’t start your answer until the question is completed. In fundraising, keep your answers short and to the point. Avoid telling a story for every question as this form takes a great deal of time. If an investor asks how much revenue you have, then give the number, $10K MRR, $100K since inception, or we are pre-revenue. Don’t tell the story about how you started the business.  Synthesis helps you tune your answers to the questions asked.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

On this episode of Investor Connect, Hall welcomes Dr. Ronald Berenson, CEO of KitoTech Medical. Located in Seattle, Washington, KitoTech Medical specializes in developing innovative solutions for chronic pain management and wound care. The company has created a transformative technology based on micro-point devices approved for clinical use that not only addresses chronic pain but also offers effective wound closure options. With the current market opportunity expanding, KitoTech Medical is raising $3 million in a convertible note to further drive commercialization and scale production. Dr. Ronald Berenson is a Yale and Stanford-trained medical oncologist with extensive experience in healthcare entrepreneurship. He has founded several successful biotech and medical device companies, many of which have gone public on NASDAQ. After serving as an entrepreneur in residence at the University of Washington, Dr. Berenson leveraged his medical expertise to develop KitoTech Medical's pioneering product, which has shown promising results in treating chronic pain—a prevalent medical issue affecting millions. His commitment to clinical trials and thorough testing underscores the efficacy of KitoTech’s products in providing pain relief. In this episode, Dr. Berenson discusses the innovative technology behind KitoTech Medical's micro-point devices, particularly their dual use in wound closure and chronic pain management. He emphasizes the product's unique ability to provide long-lasting pain relief without the side effects associated with traditional pharmaceuticals, making it a viable option for consumers. Dr. Berenson also shares insights into the marketing strategy and partnerships essential for driving growth, aiming to capture a significant share of the estimated $600 billion chronic pain management market in the U.S. Visit KitoTech Medical at , LinkedIn, and on Twitter. Reach out to Dr. Ronald Berenson at  and on Twitter.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

What Are Critical Thinking Skills? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Critical thinking understands the connection between multiple ideas and concepts. In building a pitch deck a founder needs critical thinking skills to create a logical flow throughout the pitch that highlights the main points to the investor. Here are some key critical thinking skills to employ: Ability to consider different viewpoints and see the business from other perspectives. Ability to create a solid argument based on evidence. Ability to draw logical conclusions from the evidence to make the case for the startup. Ability to separate fact from fiction which creates a well grounded startup premise. Ability to analyze the thinking process to find the flaws. Consider applying these skills to your startup pitch: Avoid bias in the pitch such as leaning to the technical side rather than the business side. Apply solid research to your startup pitch rather than guesstimates. Identify the problem you are solving not only on the surface but also other factors that influence the problem. Approach the market with curiosity to learn more. Consider the relevance of information by how it helps to make your case or detracts from it. Apply these critical thinking skills to your pitch deck presentation.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

What Is Critical Thinking? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Critical thinking is defined as the objective analysis and evaluation of an issue in order to form a judgment. It’s a skill that determines what is true or false.   It involves cognitive biases and logical fallacies. Cognitive biases cause a bad decision when one thinks it is a good one. Logical fallacies sound true but are in fact false. Startup founders should practice critical thinking skills in developing their startup as it will help avoid mistakes. Critical thinking helps you make better decisions. It makes your proposal and pitch to investors more compelling. Critical thinking is based on evidence. The investor will review your pitch based on the evidence provided. Solid evidence and logical conclusions will help convince the investor your startup will succeed and should be funded. The goal of any startup pitch is to convince the investor that your startup will succeed with or without the investor. Investors support those startups because the success is assured and does not rely upon the investor to provide heroic actions to achieve it. Consider applying critical thinking skills to your pitch deck before presenting to investors.    Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

How To Use Market Research With Investors Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Market research not only informs the founder about the industry and how to build a startup. It also informs the investor about making an investment into that startup. Market research answers the questions investors will pose to startups such as the following: How big is the market and what are the most profitable market sectors to pursue? Who are the competitors and how are you different from them? What do the current customers think about the competitors? Use the market research to convince the investors to fund your startup. Here are some key steps to follow: After researching the market, build a slide deck showing the results of the market research in full. Describe in detail the size, growth rate, sectors, and composition of the market.  Show the current industry trends and state of technology. Highlight the next generation of technology coming up. Show the current competitors with their strengths and weaknesses. Show the current distribution channels used in the industry and upcoming new ones. Identify your target sector in the market and show how your company fits in. Describe the product you are going to build. Contact investors and indicate you have been researching a market segment. Offer to share the results with them without any ask of them. Investors find cogent, concise market research interesting as it informs them about the industry. Show them the presentation and ask permission to keep them informed.  When it comes time to raise funding, you’ll have a group of investors educated about your market and your approach to it.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

Industry Analysis for Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In researching a market for your startup it’s important to analyze the overall industry. Analysis will help you forecast sales and growth rates for your startup. It shows the competition in the industry. It shows the life cycle of the industry which informs the type of startup to build. It highlights missing elements that a startup could fill. It forecasts the potential returns a startup could make. It shows the current industry trends to use for building and selling a product. Here are some key steps to analyze your industry: Collect data from the industry by reviewing industry reports. Analyze the data for the current players, the regulatory environment, and customer preferences. Review the current state of technology in the industry. In particular, notice the next stage of technology development. Summarize your findings in a report showcasing the challenges and opportunities of the industry. Once completed, use the report to select a position in the industry and a product to offer. Design the product and delivery to effectively compete against the competition.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

Primary vs Secondary Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Market research falls into two categories:  Primary and Secondary research Primary market research consists of gathering information directly from people through a variety of means. Secondary market research consists of examining existing research through reports. Primary market research can be done in the following ways: Interviews -- talking with people directly about their experience. Focus groups -- gathering a group of people together and asking for their opinions. Surveys -- sending out a list of questions for people to answer. Observation -- watching what people are doing. Secondary Market research can be done in the following ways: Industry analyst reports -- reports written about an industry segment. Studies -- research reports written on a specific topic. Market reports -- reports written about a specific market segment. Primary research yields greater detailed information than secondary research. It is useful for answering specific questions. Secondary research can be reviewed more quickly and at a lower cost. It is useful for identifying the key questions to ask.  Consider using both primary and secondary market research in your project.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

Segment the Market Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Market segmentation divides your target market into logical groups based on needs, location, or other factors. The purpose of market segmentation is to identify the most profitable customer segment to pursue. This becomes your ideal customer profile.  Segmentation also lets you customize your product for the customer based on their needs. Market segmentation can be based on psychographic factors such as activities, interests, beliefs, and opinions. Luxury brands use these factors to find customers who aspire to a higher lifestyle. Demographic factors can be used. Banks target customers based on their income, education, and marital status. Behavioral factors can be used. Online consumer sites look for buying patterns, brand loyalty, and location of purchase. Finally, geographical factors can be used. Those selling outdoor lawn equipment will segment based on geography, climate, and size of city. Consider these factors in segmenting your market to find the ideal customer profile.    Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

Identify the Ideal Customer Profile Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In researching a market it’s important to identify the ideal customer profile. The ideal customer is the one who is best suited to buy your product or service. A startup should focus on finding and selling to ideal customers instead of selling to anyone. Here are the steps to identify your ideal customer profile: Review your customers to identify the characteristics of the best ones. List out their characteristics including: What problem are they solving? What size budget do they have to solve the problem? What else do they bring such as education, experience, or training? What position do they hold in their company? Interview ideal customer candidates for the following: What do they read? Where do they hang out? What are their overall goals? What attracts them to events, content, or networks? What do they not want? What networks do they join? What other activities do they engage in? Combine the answers into an ideal customer profile that you can use for your sales and marketing activities.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .

How To Size the Market Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Sizing the market is a key step in researching an industry. Follow these steps to size the market for your startup. Define the total available market which is anyone you can sell your product to. Next, define the total serviceable market which is the segment of the market you can reach. Then define the total serviceable obtainable market which is the portion of that market you can win. With this information, you can calculate your market volume which is the number of transactions you can generate. First, calculate the penetration rate which is the number of customers divided by the market size times 100.  For example, if you sell to grocery stores in a state, then your penetration rate is the number of stores you currently sell divided by the total number of stores in the state times 100. Now calculate market value which is found by multiplying the average sale per grocery store by the number of stores you have. If you sold $20K per year to a store and you are in 100 stores, then your market value is $2M. Finally, segment your market into logical groupings. In our example, we could divide the stores by geography and treat the stores in each direction such as north, south, east, and west as a separate segment. Use these steps to calculate your market size, volume, and value.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact [email protected]    Please , share, and leave a review. Music courtesy of .