Thursday, May 5, 2011

Bringing up your product startup - Level 0.1

If you are wondering whether your first 10 customers are a good indicator that your baby is growing well and that you can multiply numbers fast, I would recommend that you rethink!!!

Most product startups do well when it comes to initial marketing and product sales. The challenge appears only when you want your sales to multiply in shorter cycles and you expect customers to buy-in.

It appears to me that it might be a lot easier if you are addressing an Enterprise market rather than a consumer segment, but in any case the principle is almost the same. Here's how it reads:

"The narrower you are the more chances of your business becoming successful." Geoffrey Moore termed this phenomena in his classic business management book "Crossing the Chasm" as winning customer segments and not just selling into them.

When markets and customers begin to "buy-in" to your product/service - it's more likely that your initial sales will soar without even selling hard. This state gives you clarity in accurately understanding why your product sells today and who does it attract, but most importantly it opens up the opportunity for you to sense which are your low hanging fruits and high value customers and how you would like to play or change the rules of the game.

How do we get to this state? My personal favorite is Personas, but you can start with the simple - what, how and why.

One thing that distinctly stands out here is that before customers buy your product they buy into you. So you must choose wisely - what? Your why's, how's and what's in the product ...

Sunny Ghosh
Director & CEO, WOLF Frameworks

NOTE: The views expressed above are purely personal and for informational purposes only. WOLF FRAMEWORKS INDIA PVT. LTD MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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