On this episode Investor Connect, Hall welcomes Mendy Ouzillou of MMOmentum Consulting. In this episode, Mendy illuminates the concept of ‘points of friction’. As Mendy explains, points of friction are any number of things that get in the way of achieving your goals. Mendy focuses on how this concept applies to pre-money startups and pre-revenue businesses, and what they can do to minimize points of friction.
Mendy begins by taking a look at the audience’s (in this case, the customer’s) state of mind. In general, an audience has expectations, and if those are not met, then the audience has trouble moving on from those expectations. Points of friction prevent an audience from following a presenter – these points of friction often take the form of ‘unanswered questions’. Mendy elaborates on the types of unanswered questions, and how they cause friction between the presenter and the audience.
Mendy shows how presenters cause points of friction through incorrect assumptions about the audience, lack of preparation, or by confusing or boring their audience. Finally, Mendy details some of the specific things you can do in a pitch to avoid points of friction.
Copyright (c) 2018, Hall Martin and investorconnect.org. All rights reserved.
NOTE: Investor Connect is a program under the Texas Open Angel Network which is a 501(c3) non-profit dedicated to the education around startup funding. Hall Martin is the principal contact, and may be reached at http://www.investorconnect.org/contact.
Hall T. Martin is the Director of Investor Connect which is 501c3 non-profit 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 as a basis for investment decisions.