As a venture studio focused on launching innovative healthcare software companies that solve real challenges in the industry, we understand that identifying the correct problem to solve is just as crucial as developing the solution itself. 

That’s why we put such a strong emphasis on carefully adhering to our six-stage process for any future Novy portfolio company. It’s designed to increase the startup’s likelihood of success and dramatically speed up time-to-exit by incorporating proven frameworks across Ideation, Validation, Creation, Growth, Spinout, and Exit.

During our most recent Validation stage, the team conducted nearly 50 product-market-fit (PMF) interviews with healthcare professionals, potential buyers, and target users to better understand the stressors keeping them up at night and causing major inefficiencies for their organizations.

We’re sitting down with David Tominsky, a partner at Novy and the leader of our Ideation and Validation stages, to reflect on some of his key learnings from this latest round. Here are his top five takeaways for conducting effective PMF interviews that capture actionable insights.

The Difference Between Sales Calls and PMF Interviews

One of the first lessons we learned during the broad validation process is the importance of distinguishing between a sales call and a product-market-fit interview. This may sound simple, but many startup founders can easily blur the lines between the two. 

“In the early stages of validation, it’s crucial that your interviews don’t turn into a sales pitch. If you’re pitching your product during a PMF interview, you’ve already lost the opportunity to get honest, unbiased feedback,” says Tominsky.

When conducting PMF interviews, it’s tempting to use this opportunity to convince potential buyers or users of the value of the solution. After all, you're passionate about the product you're building. However, doing so prematurely can cloud the entire purpose of these interviews.

Tominsky explains that “Sales calls are about selling your product, but PMF interviews are about understanding the pain points of the people you are trying to serve. You need to approach these interviews with curiosity, not an agenda.”

The key to avoiding this pitfall is recognizing that PMF interviews are about gathering data, not trying to persuade or close a deal. This is where Novy’s role as an unbiased third party can be particularly valuable. With our expertise in healthcare software and experience conducting PMF interviews, we help Idea Generators navigate these delicate early conversations and ensure that they stay focused on understanding the customer’s needs over pitching a product.

Focus on Identifying the Problems, Not Assuming You Know Them

Another critical insight we gained from our PMF interviews is the importance of maintaining focus on the problem, not the solution. 

While it’s tempting to assume that your hypotheses are correct—especially after spending time developing your ideas while constructing the initial version of your PMF narrative—it’s vital to enter these interviews with an open mind.

Tominsky emphasizes, “We went into many of these interviews with specific hypotheses about what the biggest pain points were, and in some instances, we were off the mark. It’s incredibly important to challenge your assumptions and not let your own preconceptions guide the conversation.”

The healthcare industry is vast and complex, and even within a specific niche, the challenges that different stakeholders experience can vary greatly depending on their role, location, and organization. During our interviews, we had to actively listen for clues about the problems that were most pressing for the interviewees, not just confirm our initial hypotheses.

“It’s easy to project your own ideas about what’s important, but in reality, you have to dig deeper to understand what’s truly a pain point for your target buyers and users. The most successful PMF interviews are the ones where you discover something new—where you realize the problem you thought was key is not the priority at all,” states Tominsky.

By remaining open to unexpected insights, we were able to refine our understanding of the problem and pivot when necessary.

The Power of Being Proven Wrong

One of the most powerful takeaways from our PMF interviews was the value of being challenged and proven wrong. Healthcare is a field where many problems are deeply ingrained, and it’s easy to assume that the pain points you’ve identified are universally shared by the target audience. 

However, hearing directly from interviewees that the problems you thought were critical aren’t actually hair-on-fire issues for them was one of the most enlightening moments of the Validation process.

Tominsky reflects, “There’s no better feeling than being told that your assumptions were wrong early in the process. It may sting a bit, but it’s a gift. If you don’t get that feedback at this stage, you’re at risk of wasting time and resources building something that no one actually needs.”

This insight is crucial for any startup vetting their idea. When you have direct feedback from your target audience telling you that the problem isn’t as big as you thought, it’s a clear signal to reassess and pivot. Being wrong in these interviews is not a failure—it’s a major win because it helps you get closer to solving the right problem.

Tominsky continues, “In some of our interviews, we had people outright tell us that the problem we were dialed in on wasn’t something that weighed on them strongly. That feedback forced us to reframe the problem and think more deeply about what we were actually trying to solve.”

It’s these honest, sometimes uncomfortable moments that lead to breakthroughs in understanding. If you’re not getting that kind of feedback, it might mean you’re not digging deep enough.

Building a Strong Network for Quality Connections

The fourth key takeaway from our experience conducting PMF interviews is the critical role of establishing solid relationships in the healthcare industry. While the insights we gained from interviews were invaluable, the ability to access the right people in the first place was equally important.

Tominsky stresses, “Creating companies in healthcare is a relationship business. If you don’t have a solid network in place, it’s going to be incredibly difficult to access the decision-makers and thought leaders who can give you valuable insights.”

In healthcare, time is a precious commodity, and getting VPs, C-level executives, or other influential stakeholders to dedicate 60-90 minutes of their time for a PMF interview is no small feat. To make these interviews happen, we had to leverage our industry relationships and carefully curate the people we were speaking with. A warm introduction or a trusted connection can go a long way in getting those conversations scheduled.

“You have to recognize that these interviews are not purely a data-gathering exercise. They’re also an opportunity to build relationships with key players in the industry, people who may ultimately become partners, investors, or champions for your solution down the line,” added Tominsky.

By fostering relationships with the right people, you can ensure that your interviews are not only insightful but also help expand your network, which in turn strengthens your startup’s ability to attract support, talent, and resources.

The Strength of a Network Effect

Lastly, our PMF interviews reinforced the importance of measuring your network's strength by its ability to generate a true network effect.

Tominsky explains, “When you’ve built a network that is vast with meaningful relationships, it’s not just about reaching out to a few individuals; it’s about tapping into a broader ecosystem that can drive momentum. The right network will bring you to the right people and create opportunities that would otherwise be inaccessible.”

Having a broad network within the healthcare sector isn’t just about knowing a lot of people; it’s about leveraging those relationships to access new opportunities and gather the insights you need. A network effect means that the value of your network grows exponentially as more people engage with it.

By building and nurturing relationships within the industry, we were able to access a wide range of healthcare experts who provided critical feedback on our ideas. This interconnectedness helped us capture diverse perspectives and ultimately refine our understanding of the market.

The Importance of Leaning Into Validation

Tominsky’s reflections underscore the importance of taking a deliberate, thoughtful approach to PMF interviews. 

These conversations are not just about validating your ideas but about discovering the true pain points of your target market and being open to challenging your own early assumptions. They’re about listening, building relationships, and using the feedback you receive to make strategic pivots.

At Novy, we take pride in the intentional, unbiased approach we bring to Validation. By learning from nearly 50 PMF interviews that were conducted in recent weeks, we’ve not only refined our understanding of the problems we’re solving but also gained valuable insights into how we can build companies that positively change healthcare.

Through our venture studio’s experiences, it’s clear that conducting effective PMF interviews is one of the most powerful tools in the early stages of building a successful healthcare startup.