Today, we have an insight into a start-up coaching session. What are the components of such a conversation and why the ‘Unhappy Hyperresponders’ are the most interesting target group here is shown in the following report. Jeremias Jurt (be-advanced) as a coach in conversation with the founders of the start-up ‘Boum’.
“I feel like a tennis player when coaching. I pass the ball to the young entrepreneurs. They hit it back. Sometimes the ball flies to me in a leisurely arc, sometimes with a lot of momentum and force. Depending on the situation, I play the ball gently or hit it back harder,” says Jeremias Jurt, Head of the Startup Program at our partner be-advanced AG, explaining his role as coach. “With Ludwig and Matthias, it’s a fast rally. The game is lively and full of energy. That makes it fun,” Jeremias is pleased to say.
Matthias and Ludwig are two of more than 30 young entrepreneurs who are in the running for our STAGE UP competition. Their heads are spinning these weeks. The young entrepreneurs are coached according to their individual needs. Matthias and Ludwig are the two behind the start-up ‘Boum’. Boum develops an experience-oriented plant cultivation system for urban areas. This guarantees plant success on the roof terrace or city balcony. They are coached by Jeremias these days. Today is the second virtual meeting.
Focus on the needs of the target groups
The Zoom call is opened. After a short round of greetings, Jeremias wants to know what has happened since the last coaching session. Ludwig and Matthias have been working intensively on the customer segments. From a survey, they have identified the most relevant target group for Boum. They call this group the ‘Unhappy Hyperresponders’. People from this group actively participated in the survey and at the same time they are not happy with their balcony greening success so far. Deep-dive interviews are now being conducted with representatives from this group to understand their needs in more detail. So far, the two young entrepreneurs have worked out all areas of their business idea head to head, with Ludwig responsible for the technology and Matthias for the biology. The management is shared between the two. “We want to be globally active and also bring the biodiversity idea to the cities with Boum,” he says.
“For our expanded team, we are therefore also looking for interdisciplinary thinkers and doers.”
Matthias explains. “In addition, future team members should bring cordiality and a willingness to collaborate. These qualities are part of our ‘Core Values’. For us, these values simply belong.” They also talk about the motivation behind founding the company. Jeremias inquires whether the two want to sell their business in the near future. As an example, he mentions a garden technology company as a potential buyer. “Then they would keep the business as lean as possible, not build up their own IT or HR,” Jeremias explains. The two wave it off. They don’t want to let their baby out of their hands anytime soon.
“Our goal is rather to buy other companies in addition in 10 years.”
Matthias smiles. In the last few minutes, the three talk about Boum’s value proposition. Jeremias points out how to derive it. “Think of the problems you solve with your product. Your answers to those problems could be the basis of a value proposition.” He also explains how to test the quality of a value proposition with target audiences. For example, using Facebook ads.
Targeting the next goal
In the next coaching sessions, they will work intensively on the business model, which will be submitted to the STAGE UP experts at the beginning of April. Jeremias will support the two with good advice here as well. Because the next goal is set: Matthias and Ludwig want to make it to the final round and present their further developed business idea to the jury at the Award Night on May 4, 2021. We’re keeping our fingers crossed for them.
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