Key Advice for Starting an AI Business
Recently I came across a talk by Joseph Lee — the CEO of Syncly, an AI platform that helps companies understand customer feedback at scale. He specifically shared his insight of 3 years of AI entrepreneurship.
These insights are quite enlightening and I learned that the key to success in this space is “not just about the technology itself,”
but about how you approach building and scaling your AI-powered venture.
Focus on Customer Value, Not Just the Technology
One of the most important lessons is that customers don’t actually care what technology you’re using — they care about the value you can provide.
Believe it or not, as a technical founder, I find it very hard to 'let go' of the technology. But I guess the key idea is similar to martial arts: 'no technique wins over having technique; the absence of form triumphs over form.' (If you're a kung fu fan like I am 😜)
In one of the customers’ own words, quoted by Lee, “I don’t care if you use AI or not. What I want is to get my job done using your solution.” This realization was a turning point for him (and same for me), as it made him understand that the true value of AI lies in its ability to solve real-world problems for customers, not just in the technology itself.
Customers matter most, just like how your 'rival' in a combat matters most.
So, remind yourself.
Build a Complementary Co-Founder Team
Finding the right co-founder is crucial when starting an AI business. As Lee mentioned, the co-founder relationship is akin to a marriage, and it’s essential to have a great fit in terms of values, priorities, and complementary skill sets.
As Lee said, his co-founder and him have been working together for one decade, and they know each other’s strengths and weaknesses inside out. This has allowed them to build a strong, cohesive team that can tackle the challenges of building an AI-powered startup.
Validate and Iterate
When it comes to identifying the problem you want to solve with your AI solution, Lee’s approach of “narrowing down the scope” is invaluable. By talking to a large number of potential customers and listening closely to their pain points, you can hone in on the “hair on fire” problem that your AI can truly address.
This iterative process of validation and refinement is crucial to ensuring that you’re building a solution that truly meets the needs of your target market.
Prioritize Building …
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