Founders need to bring startup mental models to bear on their business.

Here’s a list of key mental models to know:

1. Least worst option — use this model when all options are not ideal.
2. Jobs to be done — use this model to discover how your product fits into the customer’s workflow.
3. Minimum viable product — understanding the bare essential features a customer will pay for.
4. Product-market fit — shows your product meets a set of customer requirements in a market. 
5. Network effects — the value of the network grows exponentially with the number of participants, so your product value grows with the size of the network.
6. Economies of scale — costs decrease as the quantity of units increases by spreading the cost over more customers.
7. Disruptive innovation — an innovation that displaces competitors and redefines the industry.
8. North star — the one metric that guides decision-making and drives actions by the team.

These are key mental models startup founders need to know.

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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Disclaimer:
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.