Lenker with John Lenker and Kevin deLaplante | E295
Enabiling statups to be successful.
On this episode, host Jason Pereira talks to John Lenker, founder and Chief Vision Officer of the marketing firm and Kevin deLaplante, Partner & Chief Knowledge Officer. Lenker is a growth consulting firm that specializes in assisting early-stage startups in achieving product-market fit and establishing a recognizable brand before their launch. They emphasize on the challenges startups encounter, including a lack of market analysis and a tendency to prioritize technical development over other critical aspects of their business. Linker aims to help startups navigate these challenges and achieve their growth goals.
Episode Highlights
01:01: John explains that Linker's primary focus is helping businesses, ranging from early-stage startups to well-established ones, to reach their next level of growth. The key to achieving this growth is to garner support from a significant number of people who say "yes" to their value proposition. Therefore, Linker provides valuable marketing insights and strategies to help businesses achieve this goal.
02:12: John provides insight into the company's evolution and its decision to become a holistic management consulting firm.
02:47: John explains that Linker takes a consultative approach and doesn't immediately pitch their services. Instead, they engage in a mutual interview during the initial meeting with potential clients. This approach involves understanding the client's background, situation, and goals before determining how Linker can help them.
05:19: Kevin mentions that some startups exhibit what he refers to as "pathological behavior," which involves making decisions that are not in their long-term rational self-interest, such as burning through limited funds or making poor decisions.
06:02: Some startups, especially those with an engineering perspective, focus solely on building their technology because they believe it will revolutionize the market.
07:42: John talks about the importance of early-stage analysis and planning in the fintech industry to avoid common pitfalls and challenges faced by startups.
08:41: John explains that they sophisticated tools and financial models, including customer lifetime value simulation engines, to guide early-stage decision-making for fintech startups.
11:13: John elaborates on the importance of being a known and respected figure in your industry or community. He mentions that it's crucial to establish connections, contribute to the success of others, and become a valued member of the community.
12:07: Even wealthy and powerful individuals with significant success in one market may face challenges if they are not known or respected in a new market or community.
13:04: A brand is what people believe about a company or individual, and it's crucial to shape these perceptions from the beginning. Branding affects how you attract people, investors, and how committed they are to your idea.
16:38: John and Kevin highlight the advantages of early visibility, building a reputation, and actively engaging with potential clients and investors, especially in the fintech industry.
17:02: John shares a real-life example of an individual who worked for a major platform company for several years.
18:03: John underscores the significance of building authentic relationships and establishing a reputation within a community or industry as a valuable foundation for entrepreneurial success, especially in the fintech sector.
21:01: John and Kevin underscore the significance of investing in relationships, effective branding, and strategic leadership roles like the CRO to drive success in the fintech startup space.
22:35: Host and guest highlights the importance of careful planning, addressing any weaknesses, and building a strong foundation for fintech startups to succeed in a competitive market.
27:04: Lenker’s approach is centered on providing fintech startups with a comprehensive and tailored strategy for growth and success while keeping a focus on the ultimate business outcomes.
28:51: The integrated team's role is to provide comprehensive and cost-effective support to fintech startups, guiding them toward successful growth while being mindful of budget constraints and resource optimization.
30:56: If a startup has the resources and commitment to move forward, Lenker can provide guidance and support to help them succeed.
31:27: Startups at an early stage might be focused on finding a problem-solution fit. They may have a product or service but haven't yet identified the specific market problems it can address. In this phase, assistance can be provided to align the offering with market needs.
36:05: John and Kevin talk about creating a more ethical and values-driven environment in the marketing and business world.
36:09: John talks about the importance of becoming the undeniable solution in the market and how this is achieved through a process that goes beyond just marketing and storytelling.
39:35: John discusses the biggest challenge in getting their company to where it is today. Initially, the company was limited by the founder's role in wearing all the hats and trying to control the vision. The turning point came when the founder decided to bring in three other partners, transferring 75% of the company's value to them.
40:45: John and Kevin emphasize the importance of making marketing more ethical. They believe that marketing can be a force for good but also recognize the prevalence of unethical practices in the industry.
3 Key Points
John highlights one of the primary reasons startups fail in their endeavors, which is a lack of proper market opportunity analysis. He emphasizes the importance of examining the need in the marketplace, identifying the target audience and buyers, assessing the competitive landscape, and understanding the current solutions available and their market adoption status.
John talks about the importance of thorough market research, timing, and branding in the success of entrepreneurial ventures, including fintech startups.
The discussion emphasizes the process of crafting a brand that becomes the undeniable solution in the market.
Tweetable Quotes
“Many entrepreneurs have not fully thought through their business situation, making it essential to guide them in clarifying their goals and increasing the likelihood of achieving them.” – John
“There is often a disconnect between how the client perceives the problem and the reality, which becomes apparent through discussions and discovery processes.” – John
“Branding involves making people believe in you and your initiative, which creates a tailwind for your work.” – John
“Startups should surround themselves with individuals who bring critical thinking to the table. While it's natural to want to support friends or acquaintances, it's crucial to have team members who can provide valuable insights and contribute to shaping the business strategy.” - John
Resources Mentioned:
Facebook – Jason Pereira's Facebook
LinkedIn – Jason Pereira's LinkedIn
Woodgate.com – Sponsor
LinkedIn – Jason Pereira's LinkedIn