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#39 No business failed because it didn’t have this one great idea – Lars Giere

Lars Giere an expert in digital growth, Co-Founder felmo,  is the former Head of Financing and Incubation at eBay subsidiary mobile.de GmbH.

With the establishment of his first online company at the age of just 15 he started early his career. In the past three years, he scaled two successful business areas to more than 18 million euros in sales per year. One of the recipes for success: He developed a repeatable methodology for establishing business areas within a corporate.

Since November 2019 he started his new business felmo, a search engine and service provider to connect with the right animal doctors close to you.

Insights:

• Lars’s current job and what it involves
• Transitioning from product management to a business role
• Creating a different business model for online car sale which was not auction-based
• The C to B to B business model that makes it easy for car dealers to sell their stock and maintain the right portfolio
• Choosing the correct testing ways
• Getting a budget for the external team
• Determining the score for the team
• Conducting research interviews to understand the customer journey

Key Discussion Points:

[00:11]: Lars’s job and what it entails

[02:19]: Transitioning from product management to a business role

[06:03]: The C to B to B business model that makes it easy for car dealers to sell their stock and maintain the right portfolio

[13:05]: Building the first prototype

[19:15]: Research to find out what part of the market they can attract

[24:00]: Getting a budget for external people

[30:42]: Directed storytelling

[34:11]: Conducting research interviews to understand the customer journey

Interesting Quotes:

” The learnings that you generate by building up your own things are invaluable.”

“The danger is always that nobody is free of biases.”

“If you don’t have a clear understanding about the customer journey and the different pains and gains within the customer journey, your interviewed went wrong.”

“The narrower you go, the better you can define.”

“I’ve never seen that someone opens up in a research lab.”

“You can get an idea about the problem space you’re solving for, but not the solution. The solution is still something you can’t really predict that too much through interviews.”

“No business failed because it didn’t have this one great idea.”

Book Recommendations:

Trillion Dollar Coach: The Leadership Playbook of Silicon Valley’s Bill Campbell – Eric Schmidt

#business success #business idea #excecution