We recently connected with Faiz Imran and have shared our conversation below.

Hi Faiz, thanks for joining us today. So, let’s imagine that you were advising someone who wanted to start something similar to you and they asked you what you would do differently in the startup-process knowing what you know now. How would you respond?

Having ventured into multiple entrepreneurial endeavors and successfully exiting four companies, particularly those for which I raised external capital, I’ve learned a lot and have many things I’d do differently. One of the most profound realizations is around the often-overlooked essence of entrepreneurship: profitability and value creation.

Many founders, myself included, can get caught up in the allure of building something groundbreaking or innovative, leading us to pursue external funding prematurely. However, I’ve learned that the ultimate goal is to establish a sustainable, profitable business model that delivers tangible value to customers.

Rather than plunging into extensive product development based solely on a vision, I’ve shifted my approach towards validating my business hypotheses rigorously. This involves testing the market’s appetite for my proposed solution by securing actual commitments from customers, not just through surveys or inquiries, but by collecting payments and manually delivering the intended service.

This emphasis on validating the value proposition through real transactions before investing significant resources has been pivotal. It ensures that every dollar spent on development is directed toward addressing a genuine need and delivering a measurable outcome that customers are willing to pay for.

Furthermore, my experiences have taught me the importance of maintaining a laser focus on customer feedback and preferences. Instead of presuming to know what customers want, I prioritize understanding their pain points and preferences through direct interaction. This customer-centric approach guides product development, ensuring that our solutions resonate deeply with the target audience and that we’re building something people actually want!

When it comes to fundraising, I’ve adopted a more strategic approach, viewing capital infusion as fuel to accelerate growth rather than a lifeline to validate the concept. By demonstrating market demand and achieving initial traction before seeking investment, I can negotiate from a position of strength and allocate funds towards scaling proven strategies rather than experimentation.

Ultimately, success in entrepreneurship hinges on delivering tangible outcomes that address customer needs efficiently and profitably. By validating ideas through real-world transactions, staying attuned to customer feedback, and leveraging capital strategically, I believe in creating businesses that not only thrive but change the lives of our customers for the better.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

My name is Faiz Imran and I’m a serial entrepreneur with 4 successful exits in the Media, Marketing, and Creator space.

A few notable companies I’ve built and founded are

“Fismma Digital Agency” The top-rated full-service marketing agency in Atlanta, before we got acquired in 2020,

“Businessblurb” which was the fastest growing Gen-Z media company of 2020 and amassed well over 1 billion views across the platform in 3 months. Which I also exited in 2020.

And “Backspace” the venture-backed creator community platform, which was nominated for the Product of the Year award 2022. – Acquired in 2023

Currently, I’m building “Peerbase”, a Peer-to-Peer accountability and wellness platform for entrepreneurs, executives, and creatives.

We pair people in similar phases in their career and life with others who “get it” for a weekly call facilitated by an expert who has “done it”.

Can you tell us about a time you’ve had to pivot?

Oh, absolutely, My previous startup, Backspace.

Backspace was quite the adventure, We kicked things off with this laser-focused vision, thinking we had it all figured out. But reality hit us with a curveball, and suddenly, we found ourselves at a crossroads, not once, but over 15 times. Each pivot was like navigating through a maze, except this maze was foggy and kept changing its layout.
Every time we thought we hit a dead end, it wasn’t about turning back but finding a new path forward. We embraced change like it was part of the team. Seriously, pivoting became our bread and butter. It was all about staying agile, keeping our ears to the ground, and being ready to jump at the next opportunity to better serve our customers.

Looking back, the whole idea of sticking rigidly to our initial vision seems kind of funny now. What really mattered, and what ultimately got us across the finish line, was our commitment to our customers and adapting to meet their needs. It was a wild ride, with plenty of ups and downs, but every twist and turn taught us something valuable.

The day we got acquired felt like validation for every decision we made, every pivot we took. It wasn’t just a win for us but a win for our customers too. And if I were to share a piece of advice with any budding entrepreneur out there, it would be this: Success isn’t about how well you stick to your original plan. It’s about how well you listen, adapt, and commit to delivering value, no matter what.

Learning and unlearning are both critical parts of growth – can you share a story of a time when you had to unlearn a lesson?

I always had this notion that experts or giants know something that the rest of us don’t, and that allows them to climb and reach heights that most people can’t.

Over the years I’ve realized and had to unlearn that philosophy. The only thing that differentiates highly successful people and everyone else is the willingness to learn and adjust.

No one knows exactly what they are doing when it comes to business, but it’s not rocket science either.

People have problems and issues that need solving, and we as entrepreneurs identify those problems and present a solution that can solve those problems in a way that the customers can afford and is also profitable for us.

It’s a value exchange.

There is no reason to over-complicate that.

Contact Info:

• Website: faizimran.com
• Instagram: instagram.com/faizimran
• Linkedin: https://www.linkedin.com/in/faizimran/
• Other: joinpeerbase.com