Navigating Early Customer Acquisition: Lessons Learned from Merch's First Steps

As a co-founder of Merge, I've learned that having a good idea isn't enough - understanding your competition and market fit are crucial steps in building a successful company.

1. A good idea is not enough; understanding the competition and why you will be better than them is crucial.
2. Sheny Co-founded C at Merch, a company that helps businesses add integrations through products across various categories.
3. They've raised $75 million from investors including Excel, Nea, and Addition, and operate in New York City, San Francisco, and Berlin.
4. Acquiring the first customers is difficult; outbound sales and begging people to try the product are necessary.
5. Packing calendars with sales calls helps understand customer questions and refine pitches.
6. By the time they hired their first salesperson, Sheny and her co-founder knew the answers to common questions.
7. Product-market fit was found early on through user research, interviews, and validation before building the product.
8. Understanding the industry and competition is crucial; the company started by reading up on the industry every week.
9. A consistent characteristic of billion-dollar companies is successful operation at scale with autonomous teams.
10. Transitioning from individual contributions to team autonomy is challenging, especially in early stages.
11. Founders must have trust and complementary skills; Sheny's co-founder is a talented software engineer and people leader.
12. Advantages of co-founding with a friend include shared values and fun work environment.
13. Disadvantages include changed friendship dynamics; making friends who are peers helps cope with challenges.
14. Having a support group to share sensitive information makes the founder journey less isolating.
15. Sheny has learned to appreciate current moments, realizing they will be looked back on fondly in the future.
16. Gratitude and appreciation for the present moment are important.
17. The founder journey is painful, but realizing others go through similar struggles helps.
18. Every year, Sheny looks back and appreciates past time periods, expecting to do the same with her current experience at Merch.
19. Appreciating each day as it happens is essential for founders.
20. The journey with Merch will eventually end, making current moments even more valuable.
21. Understanding the competition and why you'll be better than them is key.
22. Finding product-market fit early on is achieved through user research and validation before building the product.
23. Autonomous teams operating at scale are a characteristic of successful companies.
24. Founders must have trust, complementary skills, and balance individual contributions with team autonomy.

Source: EO via YouTube

❓ What do you think? What is one crucial factor that sets successful founders apart from those who struggle, in your opinion? Feel free to share your thoughts in the comments!