Raising £750k for a SaaS that had no product/market fit

In this episode of Seed to Success, Alastair chats to budding entrepreneur Andrew Jordan who reflects on his start-up journey as a solo founder. His vision for Connect4, a meeting management platform, stemmed from his experience in management reporting and business analytics, although he soon realised there was a lack of passion in his mission.

 

From the importance of embracing failure to navigating challenges in product development and fundraising, Andrew's experience offers a raw and candid look at the realities of starting a tech business and highlights the emotional and financial commitment often made by founders.

 

If you’re an aspiring entrepreneur eager for insights into the complexities of start-up life and the reality of all the setbacks – this one’s for you! Andrew’s honesty and openness make this a must listen for those looking to implement valuable lessons for their own start-up.

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Show notes: 

 

00:00:00 - Intro

00:01:49 - The vision of Connect4

00:03:53 - Transitioning to entrepreneurship

00:06:20 - Impact of 2020

00:11:20 - Personal investment

00:13:38 - First customer

00:15:57 - Fundraising and investment

00:17:13 - Investor confidence

00:22:25 - Reflection and demise

00:26:32 - Tapping into network

00:28:19 - Early angels

00:29:46 - Mentorship and support

00:32:31 - Product challenges and market fit

00:36:50 - Pivoting and restructuring

00:40:31 - Prioritising mental health

00:42:11 - Facing setbacks

00:43:29 - Lessons from an unsuccessful venture

00:47:08 - Key metrics

00:48:20 - Conclusion