Remove Competition Remove Customer Remove Definition Remove Demand
article thumbnail

Customer-Centric Strategies Win Over Product-Centric

Startup Professionals Musings

Is your marketing focus product-centric or customer-centric ? With a wealth of products now available, customers look for the most memorable experience , not just the best product. Amazon is very customer-centric, but it can make all the difference in retail as well as online. Status factors are more important than demographics.

article thumbnail

Every New Venture Needs A Product And A Business Plan

Startup Professionals Musings

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. These requirements must be based on market analysis, expert input, and existing customer feedback. Opportunity segmentation and competitive environment.

Product 112
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Reduce five risks: Increase your valuation

Berkonomics

One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer. And fifth: Competitive risk. . Second: Market risk. . Are you ahead or behind the market with your product or service?

article thumbnail

Why Smart Entrepreneurs Build Plans For Their Startup

Startup Professionals Musings

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. These requirements must be based on market analysis, expert input, and existing customer feedback. Opportunity segmentation and competitive environment.

article thumbnail

10 Questions To Ask Yourself Before Every New Venture

Startup Professionals Musings

Do you believe that you have an idea for a company that you can implement better than anyone, and maintain a competitive advantage? Assess customer demand. Do customers really need what you want to do, or might they see it as “nice to have?” Money should not be the big driver here. Right idea at the right time.

Startup 115
article thumbnail

7 Key Practices for Entrepreneurs Tackling Leadership

Startup Professionals Musings

I’ve never had a definitive list of recommendations to overcome these qualms, so I was pleased to see the insights in a new book, “ Arrive and Thrive ,” by Susan MacKenty Brady, Janet Foutty, and Lynn Perry Wooten. Embrace the real you as your competitive advantage. This is a tough challenge for every coach and mentor.

article thumbnail

6 Key Ideas For Moving Your Business Up Another Level

Startup Professionals Musings

A theme I often hear from the entrepreneurs and startups I advise is that once they see that first surge of traction from customers, they can relax and enjoy life for a change. In today’s world of growing competition and customer evolution , holding your own, and growing to the next level is a constant challenge that can never be ignored.

Ideas 77