022: Yes, search for People in Pain. But they're invisible.

Episode 022: Yes, search for People in Pain. But, they're invisible.

In this episode, Mike introduces the distinction between conventional businesses (where knowledge exists) and breakthrough startups (where founders must create new knowledge). He details the challenge for founders of customer-breakthrough startups: to create knowledge, they must identify People in Pain who are invisible. To distinguish invisible People in Pain from visible customers, Mike presents the People-to-Prospect Funnel, a 5-layer framework for understanding what it takes for a startup to get a customer.

In this episode:

(00:00) Let's go get customers, right? Wrong!

(00:53) Intro: trying to get customers is too tedious

(02:02) Recap: why searching for People in Pain is easier than chasing customers

(04:43) All businesses use knowledge to provide pain relief to People in Pain

(05:17) Conventional businesses vs. breakthrough startups

(05:57) Example of a conventional business: the pizza shop

(08:33) Examples of technology-breakthrough: Ozempic, teleportation

(10:17) Examples of customer-breakthrough startups: Airbnb, Uber

(11:05) How a founder, Paul, used Nascent to decide in days

(11:35) Founders make two investments in knowledge creation

(12:53) Why People in Pain are invisible

(14:11) Antennas on your head -- developing a new sense of Pain

(15:21) The People-to-Prospect Funnel: 5 layers from blockers to customers

(17:56) Example of the People-to-Prospect Funnel: a food cart pod

(22:26) CTA: who are the People in Pain you're searching for?

Nascent frameworks referenced:

- People in Pain™ -- the first signal a startup might have a customer; every customer starts as a Person in Pain

- People-to-Prospect Funnel™ -- 5-layer funnel: blockers, insidious distractions, People in Pain, prospects, customers

- Knowledge-creation project -- The Nascent definition of a startup where founders must create new knowledge

- Categorizing businesses by knowledge -- new solution to an obvious problem vs. new solution to a hidden problem

- Doubtful vs. possible -- the binary assessment of whether success for a startup idea is doubtful or possible.

Let's connect:

- Newsletter: https://nascentstartups.com

- Visuals and frameworks (Miro): https://miro.com/app/board/uXjVGhU2Xoo=/
- Work with Mike: https://nascentidea.com

- LinkedIn: https://linkedin.com/in/mikevladimer

- YouTube: https://www.youtube.com/@Nascentidea

- Spotify: https://open.spotify.com/show/5BtFtYF6nVUkLu7d7VVnSY

- Apple Podcasts: https://podcasts.apple.com/us/podcast/nascent-podcast/id1728760830

- Twitter: https://x.com/NascentIdea

- Email: Podcast@NascentIdea.com

Links and sources:

- 021: No, getting customers is the wrong goal. Instead search for People in Pain. https://open.spotify.com/episode/7caiudvijZhCrKDjlHKzsw?si=D80_hfneTSONn8cndHAV0w

- Yums of PDX https://www.yumsofpdx.com/

Your startup is a knowledge creation project. The knowledge you need doesn't exist yet -- you have to create it. And the most important piece of that knowledge comes from identifying invisible People in Pain who might someday become your customers.