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The Secret to Building a Successful AgeTech Startup

Aspiring AgeTech founders often reach out to me with a burning question: What should I build to succeed in AgeTech?

This video sums up the main points, the text below elaborates.

The truth is, I don’t have the answer, nor does anyone else. The real experts are your users. They understand their needs, frustrations, and what they’re willing to pay for better than anyone else. Remember, you’re building a business, not a passion project.

Why not ditch the guesswork and embrace user-centric design? Instead of casual chats with your grandmother or your neighbor, talk to 100 strangers who represent your target audience.

Worried about cost and time? Start small:
  • Reach out to 10-15 people who are within reach.
  • Utilize online forums and social media groups.
  • Offer small incentives for quick interviews.

Think your idea is too complex to explain to users? User discovery isn’t about selling your solution. In fact, you shouldn’t mention your solution at all in your first user interviews. Focus on the core problem you’re solving. Listen to people’s reactions, pain points, and alternative ideas. Their feedback might refine your concept into something truly impactful.

In essence, you’re asking people share their experiences and needs. Use open-ended questions, active listening, and avoid leading questions. Consider anonymous surveys alongside interviews for broader, less inhibited responses.

Don’t forget to include all user types

If you’re building for multiple user types (e.g., older adults and family caregivers), talk to both groups. Getting it right requires effort, but the rewards are worth it!

How to get started?
  1. Define your target audience: Who are you solving problems for?
  2. Craft open-ended questions: Focus on the issues, not your solutions.
  3. Seek diverse perspectives: Talk to a variety of users within your target group.
  4. Actively listen and analyze: Understand the underlying needs and motivations.
  5. Iterate and adapt: Use your findings to refine your product or service.

Building a successful AgeTech startup isn’t about having the most brilliant idea – it’s about solving real problems for real people. Let your users guide you, and together, you can create something truly impactful.

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