Mistake 2 – Product – Not Compelling, Not Market-Validated
Many firms whose heart is in “tech”, who are really good at “tech” think they are not good at “selling”. They may not be. However anyone can “sell” ice cream in a desert oasis.
Rather like the “proud parent” in MIstake #1 they can lose track that there are lots of babies out there who all look the same or at least very similar.
The Best Way To Win – Don’t Compete! If your product is *really good* you will get the business. And really good means really good in your eyes and the markets eyes. As I quote serial entrepreneur Marcelo Bravo here:
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Where a lot of entrepreneurs go wrong is that … they don’t sharpen their unique selling propositions enough… A compelling winning proposition is not only unique and relevant but also is no longer a guess. Your customer has been absolutely delighted by it in contrast to other very good alternatives. Your customer wants it and wants it now.