You’ve done all the research, implemented every startup strategy you could find, but your product just isn’t selling. Where do you start looking for the problem? And how do you identify and implement the solution?
In this episode, Yaniv Bernstein sits down with Rob Snyder – serial founder, fellow at Harvard Innovation Labs, operating partner on the venture side, and now author of 'The Power of PULL' – to discuss why most founders have fundamentally misunderstood demand, and how to accurately pinpoint it.
In this episode, you will:
* Understand why pain points and problems alone are not demand, and why customers can have them indefinitely without ever buying anything
* Learn the PULL framework (Project, Unavoidable, List of options, Limitations): the four conditions that must all be present before a customer will rip a product out of your hands
* Hear how startup Ruby went from 10 nodding sales calls with no closes to rapid growth, simply by identifying the specific moment when their ICP's project became truly unavoidable
* Discover how Campground reduced their sales cycle from nine months to one month - and increased their price by 5x - by diagnosing the real pull in their customer conversations
* Get Rob's two-step pull-based sales script: how to get a prospect to monologue their own pull framework back at you, and how to pitch in a way that fits their world rather than your vision
Timestamps
00:00 Coming Up...
00:51 On Today's Show: Rob Snyder on When Sales Works
03:24 Why 'Demand' Is More Than Pain
05:51 What Are Other Frameworks Missing?
12:36 'Vitamins vs. Painkillers'
16:12 What is the PULL Framework?
21:07 Case Study: Data Migration (Ruby)
26:04 Case Study: Fundraising (Campground)
29:11 Where Interviews Go Wrong
35:19 Practice Exercise: Rob Sells Yaniv The Book
40:14 Debrief: Why Listening Wins
42:48 How to Spot Real Buying Signals
43:58 Reverse Engineering Fast Deals
47:58 Founder Mindset and Sanity
50:54 Closing Thoughts: "Get Out Of The Building"
Resources mentioned in this episode
* The Power of Pull by Rob Snyder: https://www.amazon.com/Power-Pull-Customer-Successful-Founders/dp/1541705955
* Rob's website: https://www.robsnyder.org
* Rob on LinkedIn: https://www.linkedin.com/in/rsnyder1
* Rob's Substack, 'The Physics of Startups': https://thephysicsofstartups.substack.com
* Eric Ries's TSP episode: https://youtu.be/HQ7cP1lGyiM
* April Dunford's TSP episode: https://youtu.be/QC4cKxlW81s
* Mark Roberge's TSP episode (also discusses product-market fit): https://youtu.be/j_UeeEn7p9o
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Key links
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This episode of the Startup Podcast is sponsored by Vanta. Vanta helps businesses get and stay compliant by automating up to 90% of the work for the most in demand compliance frameworks. With over 200 integrations, you can easily monitor and secure the tools your business relies on. For a limited time offer of US$1,000 off, go to https://www.vanta.com/tsp
The Startup Podcast website: https://www.tsp.show/episodes/
Learn more about Chris and Yaniv
Work 1:1 with Chris: http://chrissaad.com/advisory/
Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/
Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/
Producer: Justin McArthur https://www.linkedin.com/in/justin-mcarthur
Assistant Producer: Steph Hefferan https://www.linkedin.com/in/steph-heff/
Intro Voice: Jeremiah Owyang https://web-strategist.com/
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