Podcast Episode: The Entrepreneurial Survival Plan: Market Fit, Planning, and Perseverance

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As any seasoned entrepreneur will tell you, starting and running a business is challenging. In fact, almost 90% of new startups fail—10% of those fail within the first year. The causes range from poor product-market fit to ineffective marketing, talent issues, and cash flow problems. Even with a real challenge to solve and the desire and grit to try, entrepreneurs need more to survive and thrive.

Entrepreneurs require proper preparation and support, along with clarity about the market and their customers, and a solid business plan. Continuous learning and seeking advice from mentors can provide valuable insights and help make better decisions. With the right steps and support, entrepreneurs can increase their chances of success.

In this episode, serial entrepreneur Jan Heybroek joins host Rachelle Kuramoto to share what he wished he had known early in his entrepreneurial journey. He explains why conviction in a market opportunity a good starting point is, how to confirm product market fit, why thinking ahead is a critical skill, and why perseverance is a core quality for any founder.

Timestamps:

• [00:01] Intro and what is in for you in today’s show with Jan Heybroek
• [01:53] Jan’s background as a founder
• [05:32] Knowing when to unleash your entrepreneurship potential
• [08:32] Why conviction in a market opportunity is a good starting point for entrepreneurship
• [12:15] Tips for an effective pivot decision-making process for founders
• [15:21] How to gauge the value of the advice you get when making business decisions
• [21:41] Having a long-term vision guided by the short-term realities
• [27:35] Why thinking ahead is a critical skill in entrepreneurship
• [30:51] Jan’s future horizon

Points of Wisdom:

• ‍‍“Entrepreneurship is something that many people aspire to. Quite a few try it and there’s a lot of failure.”- [01:58]
• “All entrepreneurs have an incredible drive and pursuit or typically want to address a problem they have faced.” [05:42]
• “There needs to be a market opportunity for any entrepreneurial venture. Otherwise, you can never be successful. One way to unlock that is by talking to many people.” [09:09]
• “Entrepreneurs need to have the short-term ability to see what is in front of them that can affect their long-term business vision.” [21:43]

About Jan Heybroek:

Jan Heybroek is a serial entrepreneur with more than 30 years of senior leadership. He applies his knowledge and strategic marketing and product experience within life sciences and biopharma. He is particularly adept in building out new solutions, optimizing existing products and overseeing product portfolios to deliver industry and category-leading returns. Jan is also a thought leader in the areas of entrepreneurship, organizational partnerships, licensing and market insights.

LinkedIn: https://www.linkedin.com/in/janheybroek