44:57 Building a great product is key for startups to succeed, small markets help with feedback, choose the right business model, price based on customer savings, hire for trust, and network for potential co-founders/employees.
- Building a great product is the only effective way for startups to create a moat, as relying on patents is a difficult and costly investment that rarely leads to success.
- Small markets are beneficial for identifying customers and receiving quick feedback on product quality, making it easier to build a roadmap for investors and keep motivated.
- Choosing the right business model track for your company is crucial, as there are various options available such as recurring business models, hardware as a service, consumer models, hybrid models, insurance models, and advertising-driven models.
- Price your product based on how much money it will save or make for the customer, and experiment with pricing to find the optimal balance between profit and customer savings.
- Hiring for trust and reliability over specific domain knowledge can benefit early stage startups in finding product market fit and avoiding delays in initial production.
- Look through your Facebook or LinkedIn contacts to find potential co-founders or employees, and don't be afraid to ask them to join your team.