Monday, March 4, 2024

Randall VanderVaate – Funeral Funds of America – On Top 5 Mistakes When Starting A New Business

Leaders Perception Magazine is currently running an interview series called – What Are The Top 5 Mistakes People Make When Starting A New Business?

Today, we had the opportunity to interview Randall VanderVaate who is a President & Owner at Funeral Funds of America.

Interviewee Name: Randall VanderVaate

Company: Funeral Funds of America

Randall VanderVaate’s favourite quote: Character in not made in crisis – it is only exhibited. Robert Freeman

The Interview

Thank you so much for joining us today! Tell us a little bit about yourself. What is your backstory?

Randall VanderVaate : I entered the life insurance business years ago after transitioning out of the corporate world. I wanted to start a business where I could help and serve others at a time when they needed it most. Life insurance is one of the best products to have in place for families when the worst happens.

In your opinion, what makes your company stand out? Any examples?

Randall VanderVaate : Our company stands out because we only do one thing and do it better than anyone else. And our business name, “Funeral Funds of America,” communicates the last part of life we help people prepare for financially. Talking about death is not fun, but it is necessary.

What are the TOP 5 mistakes people make when starting a new business? Please share advice/examples for all of them.

Randall VanderVaate : The number one mistake people make when starting a new business is creating a product before determining the target market.

You can develop a great product, but you need to know your ideal customer to succeed. Many great products remain unsold because the product creator failed to determine the target market before producing the product.

Determine your target market first by creating an avatar. Then design your product to solve your markets’ pain points. This way, when you are ready to launch your product in the market, you know you are filling a need and your product is marketable.

Leaders Perception magaizne would like to thank Randall VanderVaate for the time dedicated to completing this interview and sharing their valuable insights with our readers!

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