I’m a B2B guy. I really am. I don’t understand how to make a consumer product successful. For B2B technology products, especially more complex and costly ones, you listen to prospects and customers, innovate, collect a tidy sum, then rinse and repeat. There’s one line, when considering startup strategy, that should be repeated over and over in the founder’s mind:
Are we helping people make money or save money?
This is critical to keep in mind as it drives several aspects of the business, including:
- Who’s our target buyer?
- What verticals/industries make the most sense?
- How should we price it?
- How should we position it?
Products geared towards making money are often sold to sales and marketing. Products that save money and drive efficiency are often sold to IT and finance. There are big implications here. There’s no right or wrong answer but I believe it is important to ask yourself that question when generating product ideas as well as finding product/market fit.
What else? What are some other considerations related to products making money or saving money?
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