The Startup’s Achilles Heel
With all the startups we’ve worked with, there’s one common denominator that holds them back, and that is focusing on the wrong thing at the wrong time. Specifically, they don’t put enough focus on strategic marketing, marcom (marketing communication, i.e., getting the word out) and sales. They generally tend to focus on the development of technology, which is a huge mistake, being that the technology they’re developing is actually a product of a marketing strategy.
When I refer to marketing strategy I’m referring to why you’re building what you’re building, who has the problem the software is solving and will they pay to solve it. In the post How To Start A Successful Hi-Tech Startup we discuss these issues in more detail.
I understand why this is the case, i.e., why startups tend to focus on the build; Strategic marketing is very hard, especially for the nascent entrepreneur; while focusing on building the technology is much easier and a lot more fun. But the fact is “build it and they will come” is a foolhardy approach to strategic marketing.
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