Unlocking Startup Success: PMF, Social Media Strategies, and Angel Investing
I was away for a bit but I am back with more resources than ever to share with you! Enjoy the read as we go deeper into America's favorite season.
Bienvenue! I am Marion Siboni, CEO and founder of La Creme de la STEM™, a private network for early-stage female founders. This newsletter is specifically designed to offer resources, insights, and support about entrepreneurship. I also cover all things related to community building and share stories of inspiring women who deserve to be in the spotlight. 3,700+ investors, entrepreneurs and operators already subscribed. Join them!
✍️ Current setting ✍️
📍 Writing you from: Nems, my favorite coffee shop in Williamsburg
☕️ Drinking: a Matcha glow smoothie
🎵 Listening to: The March - Suffs Original Broadway Cast
📝 Today, I: share actionable advice about finding product-market fit
Conference season is in full swing and I have been been busy running around NYC to make the most of it. I have been meeting with VCs so they can support La Creme de la STEM™ - 120+ are already part of the network. I also met incredible female founders as I am scouting for 50 Founding Members. DM if interested!
💥 What Proven Strategies Turn an Idea into a Successful Market Product? 💥
VC Wisdom on Product-Market Fit
Marc Andreessen defined the term as follows: "Product/market fit means being in a good market with a product that can satisfy that market." The emphasis is made on the market rather than on the product. Selecting a great market is more crucial than perfecting a great product. Make sure you understand what your total addressable market is, but also defining who the most likely buyers will be in this market, meaning your Ideal Customer Profile or ICP.
According to Techstars, the key to product-market-fit starts with customer discovery. Focus on understanding past behavior to identify a segment of potential customers that have a problem, know they have a problem, have quantified the problem, and are doing something about it, with or without you. In short, make sure you answer the question “Which problem are you solving?”.
According to research conducted by CB Insights, 42% of startups fail because of poor product-market fit. If you are currently building, do not neglect this very important aspect of your business.
Actionables Strategies to Find PMF
Now we know how important PMF is, let’s dive into practical advice you can implement.
✅ Extensive Validation: Extensive validation through campaigns can generate brand awareness and excitement, ensuring potential users are well-informed about the product early on. An example can be to create a campaign to generate a waitlist before launching.
🔎 Discovery: Utilize surveys, conduct one-on-one sessions with customers, and measure responses before moving to the next phase. Constantly seek user feedback will help to understand customer sentiment about the product.
With a decade of experience in business development, I highly recommend prioritizing continuous conversations with your customers, and from different manners: in-person, on calls and through surveys.
🏗️ Building and Iterating: Focus on finding product-market fit by continuously improving and evolving your product. Balance organic growth with paid strategies, and keep an eye on key KPIs like retention, engagement, and performance. Achieving consistent milestones and setting clear expectations and vision is crucial.
🧩 Finding Your Sweet Spot: Always know your "why" and understand the underlying problem you are trying to solve. Stay lazer-focused on what users are saying.
🗽 La Creme de la STEM™ Event 🗽
In today’s digital-first world, leveraging social media is essential for building your brand as a founder. This is a unique event created specifically for female entrepreneurs who want to master the art of personal branding across various platforms. Join us for a panel discussions with social media experts from LinkedIn and Instagram:
Marion Siboni, founder & CEO of La Creme de la STEM ™ | Top LinkedIn Entrepreneurship Voice
Natalie Neptune, Founder of GenZtea | Top LinkedIn Voice
Emma Bates, co-founder and CEO of Diem | 40K followers on Instagram
We are on the lookout for exciting speakers mastering Twitter/X and TikTok. Contact us if you have any lead or if you fit the criteria!
🚨 Entrepreneurs - Deadline Alert 🚨
Applications for Techstars Spring Accelerators are open until November 20th!
In each three-month program, Techstars help entrepreneurs find product-market fit, get traction, and access capital and mentorship. Small class sizes and a world-class network is a proven model that’s better for founders. Explore programs and start your application today.
🔗 Community Building Thoughts 🔗
✍️ I have been interviewed by TechNational
I can't help but blush reading the way they introduced me!
You can read the entire article here.
✨ Inspiring Women Stories ✨
I had the honour to host the book launch of Marcia Dawood, Do Good While Doing Well, followed by a fireside chat. Marcia wears many hats, including serving as an Advisor for the U.S. Securities and Exchange Commission, speaking at TEDx, and hosting The Angel Next Door Podcast. She has made significant contributions as the Associate Producer of Show Her The Money movie, as well as serving as Chair Emeritus of the Angel Capital Association (ACA) and a Venture Partner with Mindshift Capital.
Her journey into angel investing began in 2012, due to her desire to support innovative entrepreneurs and help them bring their ideas to life. In her book, she highlights innovative fundraising strategies, such as equity-based crowdfunding, donor-advised funds, and revenue-based fundraising, providing founders with practical tools to secure financial support.
Beyond financial backing, she recognizes that a strong advisory board can offer essential guidance, encouraging founders to focus on building a diverse and effective team of advisors. Her journey often draws inspiration from the success stories of female founders, showcasing their resilience and ingenuity in the entrepreneurial landscape.
If you want to know more, make sure to read her book and check out useful resources she shares.
Thanks for reading me! If you want to keep up with my content, I share things on my LinkedIn profile and the company page, and sometimes post stories on Instagram. You can also check Luma for all coming up events.
