One Question Friday: What Questions Do You Ask Your Customers When Starting A Business?

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 19 August 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode #350: Sam Parr (@thesamparr) answers one listener's question: What questions do you ask your customers when you're starting a business? To submit your question and hear yourself on My First Million, go to MFMPod.com and click on the circle with the microphone in the lower right hand corner. ----- Links: * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0	Hey, this is Uschwin.
0:03.2	My question is for Sam regarding customer discovery.
0:06.5	I saw on a recent webinar that your calendar was booked with dozens of calls each day with
0:11.2	potential customers for your new product.
0:13.6	I'd like to know what kind of questions you ask in those meetings and how you use their
0:18.2	feedback to influence the business plan and product for your new business.
0:22.7	Thanks.
0:23.7	All right.
0:35.5	So the question was basically the guy, I did a little small talk for like a private
0:40.6	group and I showed my calendar about how basically on Tuesdays and Thursdays and whatever, like
0:47.6	I'll do like 10 to maybe 10 or 13 like 10 to 20 minute calls with customers and they
0:57.5	asked what questions do I ask.
1:01.2	And so I do a few things.
1:03.0	The first thing is if you haven't read it, there's this book called The Mom Test and it
1:07.7	talks about like how to ask good questions, but I'm not asking questions that a lot of
1:11.8	people ask like, would you pay for this?
1:14.0	I don't ask that.
1:15.3	I don't ask like, would you use this?
1:17.4	I never ask that stuff.
1:19.2	So in my case, or all the time, not just in my case, but in this particular case of this
1:25.5	business I'm starting, but in all cases, I'm not even asking them if they want the solution
1:31.1	that I'm saying is the solution to the problem.
	...

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