How to Develop an MVP and Raise Capital for a Startup- Lauren Picasso Ep82

Lauren Picasso: How to Develop an MVP and Raise Capital for a Startup

Thinking of launching a new product into the market? How about formulating an MVP to first test the market? This not only ensures feedback for your product before launching but also helps you understand what to invest in the business.

In this episode of the Page One Podcast, Luke Peters speaks with Lauren Picasso, the CEO, and founder of Cure Hydration, an electrolyte beverage that comes in powder form. She has a background in e-commerce and marketing, having worked in startups like Jet.com.

Listen in to learn the importance of raising capital for your startup at the right time. You will also learn the process of formulating and developing an MVP to experiment with your product before launching.

Key Takeaways:

• The importance of sharpening your skills in business before starting one.
• The value of having in your team when starting out, someone who’s already done it before.
• Why you should prioritize hiring for the roles where you have the least experience.
• How to create value for a startup and waiting for the appropriate time to raise money.

Episode Timeline:

• [2:08] She explains what Cure Hydration is which is an organic electrolyte mix for oral hydration.
• [5:04] She explains how they’re using the LTV metric as the core KPI driver at Cure Hydration.
• [7:25] She talks about her background in e-commerce and marketing in retail background.
• [8:47] The Grassroot marketing they did when they first started and are continuing to do for their product.
• [11:12] Why she started Cure Hydration which is an effective product for active people.
• [12:49] The process that Lauren used to formulate and develop an MVP.
• [18:07] How they bootstrapped the Cure Hydration brand before launching a pilot based on feedback and engaging investors.
• [20:38] Lauren describes the titles of the team that forms Cure Hydration and the roles they each perform.
• [22:24] How they’re differentiating themselves by being the only organic product in their category, plus their initial sales strategy before approaching retailers.
• [24:38] How investors cared about profitability and cash efficiency during the pandemic.
• [27:54] Lauren advises founders to have a mindset of experimentation and creativity.
• [29:07] She explains how she was inspired by her father’s entrepreneurial spirit.
• [30:41] What Lauren looks for in an entrepreneur before investing.

Quotes:

• “What makes really a good entrepreneur is resilience, being able to handle rejection, and believes in their ideas.”- Lauren [30:56]