When did “learnings” become a word that non–MBAs started using? I don’t think there is another word that fills me with a greater desire to flip the conference room table over and leave the room.
Thanks for your input, which word would you suggest? I'm partly (small part) writing this blog to improve my english. English isn't my mother tongue, and the best way to learn is by doing. :-)
Thanks for sharing. Screw the English - the ideas were spot on especially about market reach. In general I find people who have no real value to add with usually criticize not the ideas but the person. It shows low self-esteem in my eyes.
My biggest beef working with start ups - they only focus on technology.
When I am doing sales and marketing for them the times I have succeed is when I figured out a well defined market that not only feels the pain but it actively looking for a solution and that also easy to reach. An example:
software security inspection software
Before I came, the company focused on VPs of engineering for SMB market. Now this is well defined. But no VP of engineering is going to say - oh we need to pay someone to find all the security breaches in our software. However I went after CEOs and VP of Sales - and angled it as 3rd verification if they are in the middle of strategic relationships: OEMs, exits for buyouts, selling to financial or insurance industry, or even working with Fortune 1000 companies. What a difference - we suddenly had their attention and were able to close some business quickly.
I am very good at B2B. But I refuse to sell anymore. I hate doing business with people are want the easy money and screw customers meaning they fail miserably in operations. They also think very badly of sales. Typically coders who have never sold, being a techie I have looked at some times at their code - for shame!
So I am on my own. I am trying the B2C market but have yet to succeed: 30 itunes apps, 3 websites, etc.
I am tempted to go back into B2B since that where my strengths are but I just want to a small shop so I am kinda stuck until I succeed :-)
Your point about not doing business in a domain that is not of your interest or expertise - valid point. I would suggest getting a partner that does have the domain expertise and enthusiasm. I know plenty of successful who are not enthusiastic about the industry they are in. And tons of CEOs who can not tell you a single benefit statement of why to use their product/service. It would be odd but to me it is normally. In front of customers, I always have to check my CEO to make sure they don't hang themselves.
Wow, thanks for your reply, really appreciated. And I'm glad that you liked the post.
You make some really good points. I agree on the problems with only focusing on technology. I kinda did it myself on this project. As a programmer and designer (more designer than programmer actually) I dug my head in the sand and hacked away whiteout testing the idea and market early and often.
I also learned that the B2C market is difficult, especially if you want to make money. B2C almost always require a critical mass of users, and that's expensive. Unless you're passionate enough to spend hours on Twitter/Facebook/Community sites to build that mass. Which I wasn't (in this domain).
Having a partner would probably made things easier. And I will try to find one for my next project. Which definitely will be in a domain that I'm more passionate and knowledgeable about.
I agree with you - critical mass is required in B2C market.
There is an excellent book called Viral Loop that dissects past companies that were able to do this correctly in the B2C market. Also Mark Bao talks about this threewords.me has a double viral loop - which is fantastic that he thought of this - I wish I had thought and executed this idea ;)