Finding Anchor Customers

An anchor customer is one that provides a substantial amount of business on a recurring basis.

These customers are important as they give you a base level of business each month.

You save the time and cost of prospecting for the customer as they are already signed up.

They can be used to bring in new customers who see you working with the anchor customer.

Startups developing their product can use anchor customers to help fund their business.

By providing a customized version of the envisioned product, the startup can charge a customized fee which provides sufficient funding for the team.

With two to three anchor clients many startups can build out a platform that can be sold for a standard price.

The work from anchor customers provides several additional benefits as follows:

They provide a definition of the product they want.

They give feedback on design choices and help make tradeoff decisions between performance and price.

They can test the product and identify changes to be made.

They can provide a testimonial to other customers and investors.

Make sure you build the custom products on your standardized architecture and programming tools.  

Consider anchor customers as a part of your funding strategy.

 

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.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.