Mastering Market Shifts: "we had to stay close to the truth" : Knight Hou's Journey to Startup Triumph

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These Three Things

Shona Grundy

12 episodes

2 days ago

A podcast aimed at building a thriving and more inclusive startup ecosystem, through sharing real lessons from people doing the hard work. We focus on the three strategically critical aspects of the startup journey: raising capital, finding product-market-fit and expanding offshore (internationally). If you find this useful, please subscribe and recommend the podcast to at least 3 other people. We appreciate you lending your ears and joining us in this series.

Entrepreneurship

Business

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Entrepreneurship

Business

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Mastering Market Shifts: "we had to stay close to the truth" : Knight Hou's Journey to Startup Triumph

These Three Things

1 hour 6 minutes 2 seconds

1 year ago

Mastering Market Shifts: "we had to stay close to the truth" : Knight Hou's Journey to Startup Triumph

In this invigorating episode of our podcast, we explore the fascinating journey of Knight Hou, a visionary entrepreneur who transitioned from a successful corporate career at Air New Zealand and key roles in Spark and Datacom to co-founding the innovative property technology startup, Relab. Discover how Relab, under Knight's leadership, rapidly captured a 30% market share and adeptly pivoted from a B2C to a B2B model in response to market changes. Knight's story is a masterclass in adapting to market dynamics, leveraging corporate experience in a startup environment, and strategically expanding into new markets like Australia. Tune in to gain insights into the challenges and triumphs of scaling a startup, the importance of understanding customer needs, and the art of effective capital raising. Whether you're an aspiring entrepreneur or a seasoned business professional, this episode offers valuable lessons in resilience, innovation, and strategic growth.

-------------------------------------- 00:00 In This Episode 00:30 Intro 01:02 Today's guest 02:07 Knight's journey from corporate skies to entrepreneurial horizons 04:04 Elevating ambitions with Linda Jenkinson's mentorship 06:36 Knight's capital raise experience 08:30 The three metrics that investors are looking for 09:46 Overcoming investment challenges - risk and belief 11:17 Relab's ARR tactics and pricing strategies 14:30 Why do investors prefer subscription-based success? 16:06 Our Sponsor 16:46 Continued: Why do investors prefer subscription-based success? 18:53 How long should your capital raise take? 20:35 Knight's learning path: mentors, resources, and entrepreneurial education 23:44 Why does asking customers matter? 28:41 How to craft a beautiful product amidst diverse customer desires? 30:25 How did key metrics drive Relab's strategic pivot? 35:10 Are big customers worth the wait? 36:18 Decisions behind Relab's offshore expansion 39:33 Addressing the concept of competitors when going offshore 41:56 Strategic expansion - channel partnerships and risk mitigation 46:55 Knight’s aspirations and values 49:45 Inclusive startup ecosystem - what's missing? 52:06 Cap raising tips - what factors into an investor's decision? 54:36 The formula for getting investors on board 01:01:00 The Three Learned Things 01:05:18 Outro --------------------------------------