I remember sitting across from a startup founder not too long ago, quite eager to showcase their shiny new app. They began with a grand presentation, full of slides that illustrated the sleek design and the potential market impact. Yet, as I listened, I couldn’t help but feel that something was missing. It wasn’t the enthusiasm or the ambition — both were abundant. What was lacking was a connection to reality, a grounding in the actual problems faced by the users they aimed to serve.
This encounter brought to mind a fundamental lesson I’ve learned from my years in both the medical and investment worlds: before you innovate, you must investigate. This isn’t just a catchy phrase; it’s a conviction rooted in experience. Whether it’s diagnosing a complex fertility case or assessing a startup’s potential, the principle remains the same: understanding the problem is more critical than jumping to solutions.
In my IVF practice, I often emphasize the importance of asking the right questions before beginning a treatment cycle. Patients who come in with a list of well-thought-out questions tend to have a better grasp of their journey and are often more satisfied with their outcomes. This is not unlike the founders who rigorously interrogate the market before developing a product. The correlation is striking, and it has informed my approach to both fields.
Asha, a founder I once backed, exemplified this approach beautifully. Before she even began to prototype her product, she engaged in a series of conversations with potential users. She didn’t bombard them with her vision but rather asked them to recount specific, recent incidents that highlighted the pain points in their current processes. This method of investigation is akin to taking a detailed patient history before making a diagnosis — it uncovers the nuances that are often overlooked.
Asha’s interviews focused on real events: “Tell me about the last order that needed correcting,” she would ask. This opened up a treasure trove of insights. She learned about the logistical headaches, the time wasted in manual corrections, and the financial implications of these inefficiencies. She listened for the cost of the current workaround and whether it was frequent enough to necessitate a solution. Not every problem required intervention, she discovered; some were merely irritations, while others were systemic issues that cost the business significant revenue.
This investigative approach serves another crucial function: it tests assumptions. Asha initially believed that her product’s automation feature would be the key selling point. However, through her conversations, she learned that data security was a more pressing concern for her customers. This insight allowed her to pivot her development focus and address the real need.
In my experience, one of the most common pitfalls for founders is the tendency to fall in love with their solution before thoroughly understanding the problem. This is akin to a physician prescribing treatment before a proper diagnosis. It’s easy to get swept up in the excitement of innovation, but without a clear understanding of the problem, even the most elegant solutions can fall flat.
I’ve written before about the importance of asking questions, whether it’s in the context of fertility treatment or startup development. The ability to ask the right questions is a skill that can be honed, and it’s one that I believe is essential for success in any field. It’s about curiosity, a trait I see in my children and one that I’ve argued AI tutors can’t compete with.
I often advise founders to start their customer conversations by making it easy for the customer to describe reality. A long monologue about the cleverness of the product can inadvertently lead to polite agreement rather than honest feedback. Instead, ask about a recent event, listen actively, and take notes under four headings: event, current process, consequence, and unresolved question. This structured approach keeps the investigation grounded in reality and separates observation from interpretation.
Consider a scenario where a founder is developing an app to streamline order management for retailers. Rather than asking if the retailer would use the app, a more insightful question would be, “What have you tried in the past to address order errors?” This not only provides a historical context but also reveals the limitations of existing solutions and the actual pain points.
After conducting these interviews, it’s crucial to reflect on what you’ve learned. If all the feedback aligns perfectly with your initial assumptions, it might be time to scrutinize your questioning method. Were you genuinely investigating, or were you subtly selling your idea? The goal is to uncover truths, even if they challenge your preconceived notions.
Once you have gathered a meaningful batch of insights, the next step is to synthesize this information and decide on a course of action. If the feedback indicates a significant opportunity, perhaps it’s time to develop a prototype. But remember, even agreement to a follow-up meeting is not a commitment to purchase; it’s merely an indication of interest.
In conclusion, the art of investigation before innovation is a discipline that requires patience, humility, and an open mind. It’s about listening more than talking and being willing to pivot when necessary. Whether in medicine or entrepreneurship, the willingness to ask the right questions and truly listen to the answers is what separates the successful from the unsuccessful.
As I reflect on my dual roles as an IVF specialist and an angel investor, I realize that the most rewarding outcomes often stem from a deep understanding of the problem at hand. This conviction has been reinforced time and again, whether in the consulting room or the boardroom. And it’s a lesson I believe is worth sharing: before you innovate, take the time to investigate. You might just be surprised by what you discover.