In this episode of the "Startup for Startup" podcast, the focus is on the importance of validating a startup idea before making major investments in development. Omri Mann, a Chief Revenue Officer, shares insights about how he and his partner tested their billing and booking system, Encore. They engaged directly with potential customers in the U.S. before creating the product. By discussing the challenges these customers faced and asking how much they would be willing to pay for a solution, they discovered a strong interest based on the potential savings in time and administrative costs. This "promise-market fit" strategy emphasized market validation ahead of product development, enabling them to hone in on their target audience and messaging while conserving resources and time during the initial stages.
