What is it? How do startups get ahead of customers? How and when do startups execute on strategy? What happens if your strategy fails?
- Know your customer; be a customer. Try to find a few key customers who might just tell you what they want and then go build that (Reminds me of “Law of a Few” from Malcolm Galdwell’s Tipping Point). What influences your customers? What do they care about? Above all, be passionate about your product. Use it. Test it. Tinker with it.
- Master storytelling. Why should anyone (e.g. your customer, Wall Street analyst, public relations, etc. -- your constituents) care about your product?
- Perception is key. People expect things to work. If something is in “beta” stage, it better work. Underpromise and overdeliver.
- Flexibility is crucial. Have a plan but don’t be afraid to tweak it.
- 50% proactive - Knowing your strategy
- 50% reactive - Understanding what market is saying and reacting to feedback
- Failure is OK. In fact, fail over and over again. Don’t be afraid. You learn more from your mistakes.
Panelists: Alex King (Crowd Favorite), Brad Feld (Mobius Venture Capital), Don Loeb (Feedburner), Dave Taylor (serial entrepreneur and consultant)
Should all startups blog? Must they do so nowadays to gain critical mass?
- Free marketing. Blogs can serve as a great way to spread the word about your product and company. Huge viral and network effects.
- Be coherent and consistent. Keep blogs focused on specific topics (e.g. separate personal and company blogs).
- Be thoughtful. Have your own insight and opinion. Do more than copy or reiterate what’s already out there.
- Have domain expertise. What is your unique contribution? Brad Feld asked one question to the eager founders of the room: “What can we be best in the world at?”
While Brad Feld argued for complete transparency in blogging, I feel companies ought to exercise caution. While blogging may be especially beneficial for consumer-oriented internet startups in "spreading the word," it also is a source of competitive intelligence. One interesting point that was brought up was whether or not companies should blog about a "roadblock" they've encountered. Another point was whether or not young people today should be worried about what they are blogging about online. In other words, can the words you say now (e.g. say as a teenager using MySpace or Facebook) be used against you later (e.g. for a future job position)? Since perception is so important, one negative first impression can ruin the future image of the brand (or person).
technorati tags: techstars, go-to-market strategy, blogging, startups, marketing, getting started