Good morning! Welcome to the morning edition of Jerry’s memos. Today is Monday, July 22, and it’s a beautiful day outside of Austin. Let’s dive into some recent developments in the startup world and the state of things.
Recently, we made some significant changes to the company. We’re strategically concentrating talent to focus on core competencies such as technical product development and sales. Additionally, we are reassessing our overarching approach and strategy for our business model, especially considering our most recent interactions with a B2B customer. A third major focus is refining how we identify and target our customer demographic. It’s clear that appealing to both the masses and high net worth individuals presents unique challenges.
Over the past few weeks, we’ve explored multiple strategies for demand discovery, crucial for syncing the marketplace. These strategies included in-person outreach, online engagement via social media platforms, and leveraging our personal networks.
Given our observations, we’ve reassessed some of our initial metrics - we need a nuanced understanding of demand to adjust our approach effectively.
To validate these ideas, we’ll need time and continuous experimentation. The current social dynamics of Austin may not be ideal for the volume of transactions necessary for a sustainable marketplace. We’re examining whether the core network density here supports the social awareness and transactional activity we need.
This journey of experimentation and discovery is essential for any consumer service or product.
As I rethink our strategies, I aim to utilize data science to take a data-driven approach to marketing, increasing consumer awareness and conversions. Building a multimodal content strategy involving visual, audio, and written content can enhance brand building and attract a like-minded audience.
Moving forward, I plan to explore automation tools like Imagen AI for photo editing and continuously produce content through podcasts and blog posts. Automating content generation can extend our reach to a broader audience.
Thank you for tuning into Jerry’s daily memos. I’ll keep you posted with more updates. Until next time!
