six lessons to build your market
DESCRIPTION
Instead of doing the traditional market research work and figuring out what product to build, you should create your own market segment.TRANSCRIPT
How I did Sampa?
Personal Pain
Validation with Industry Experts
Validation with Potential Customers
WORDS ARE CHEAP 1
How I should have done Sampa Pick a segment/niche (don’t try to boil the ocean)
Build a 3-6 month V1 and Ship It
Work Harder on Customer Acquisition
Work Harder on Fine Tuning Revenue Model
ADOPTION OF A PRODUCT IS THE BEST MARKET RESEARCH
2
Don’t listen to your customers… People don’t know what they want
You don’t have customers if you don’t have a product
The customers you have might not be the customers you want
Blue + Red + Green = Mud!
Unless…
It’s an enterprise customer
You are listening to the problems
Pain-Killer Vitamin
Every Startup Worst Enemy
COMPETITORS?
PRODUCT FEATURE SET?
LACK OF MARKETING?
FUNDING NEEDS?
SEO?
BRAND RECOGNITION?
INDIFFERENCE!
NOISE!
INERTIA!
BEAT INDIFFERENCE
Why should I care? Why should I tell anyone? Why this matter?
BE REMARKABLE 3
BEAT NOISE
Isn’t this just like…?
CHANGE THE GAME 4
BEAT INERTIA
Why should I change?
FIND WHO NEEDS YOU 5
Defensibility (Usually) NO YES!
Patents
More Features
Better Features
In-house Genius
Better plan
More marketing
Customer base
Partnerships
Distribution deals
Exclusive Content
Better business process
Better sales strategy
CREATE REAL VALUE 6
Summary 1. Words are Cheap
2. Adoption of a Product Is The Best Market Research
3. Be Remarkable (Beat indifference)
4. Change the Game (Beat noise)
5. Find Who Needs You (Beat inertia)
6. Create Real Value
CREATE YOUR MARKET
