The Mom Test: Tell If Your Startup Idea Is Actually Solving A Real Problem | BFS EP33

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"There's a graveyard full of businesses that have tried to centralize messaging. A lot of them actually resorted to going into free models because they actually couldn't monetize it correctly."

After 100+ investor meetings across 5 weeks in New York, Daragh completely pivoted Magnate - and Erik watched it happen in real-time. This is the unfiltered reality of startup pivoting that nobody talks about.

In this episode, we break down:

Why 100+ investors said "no" or "come back later" (and what that actually means)
The difference between surface-level, tactical, and strategic problems in startups
How Daragh pivoted Magnate from a unified inbox to AI company intelligence in 72 hours
Why businesses won't move all their communications to unknown software
The "Mom Test" - how to validate if you're solving a real problem
The graveyard of companies that tried (and failed) to centralize messaging
Why the average person gets disturbed 275 times a day (every 2 minutes)
How to actually listen to investor and customer feedback without getting defensive

Key Timestamps:
4:20 - The original Magnate vision: unified inbox for all communications
8:15 - 100+ meetings in 5 weeks: what investors actually said
12:40 - "There's a graveyard full of businesses that tried this"
16:50 - Sunday to Wednesday: the 72-hour pivot process
21:30 - Surface vs tactical vs strategic problems (MBA lesson)
26:45 - Why people spend 60% of their time on emails, meetings, and internal comms
31:20 - The new Magnate: transforming communications into company intelligence

This isn't a sugar-coated success story. This is the brutal reality of building a startup, getting told "no" by 100+ investors, and having the courage to completely pivot your vision based on real feedback. If you're building a company, this episode will save you months of wasted effort.

🎙️ Watch now on YouTube and listen on Spotify for the unfiltered story of a startup pivot in real-time.

📩 Got a question or topic you want covered? Drop us a comment!
Keywords: startup pivot, investor feedback, startup rejection, New York investors, venture capital rejection, product market fit, startup validation, mom test, customer feedback, startup failure, pivot strategy, unified inbox, messaging apps, startup lessons, founder journey, 100 investor meetings, startup reality