digital business with Greg Searle, Anypoint
The Operate – ing: Running the Business Remember what inspired you.
wait. Get help to bounce ideas, use your network.
Being overwhelmed Your Bank Manager called to ask for the next six months cash flow projections. Your Accountant is reminding you to give him last quarter’s Sales and Expenses so he can lodge your BAS. It is overdue. The Prospect that said they would trial your product are still interested, but have “a few things on their plate that they have to sort out before they can commit”. Your Investor wants to know “how your going” there is a hint of “not happy”, you were planning to go and see him to ask him for some more funds. Oh, a new Competitor just entered the market that seems to have a lot more backing than you, and your Partner is complaining that you’re never home and just reminded you of the ABSOLUTE commitment you made to go away this weekend together to the music festival. Welcome to the world of the Entrepreneur!
The Gotcha – Crossing the Chasm Strange as it sounds, the Achilles Heel of most startups are the very customers that helped them get up and running to begin with. As a new business owner you are driven by making your new clients happy and meeting their expectations with your new product. The result is you start to “burn” money on non-essential development cycles when you should be really focusing on attacking the mainstream market and organising Funding to do so. This is well explained in Geoffrey A. Moore’s book “Crossing the Chasm – revised, 2014” where he divided the market into four categories.
Action Plan What do you do when it is not quite going to plan? The first thing you need to do is break all of the issues you have down into three groups. The first must be done today, the second must be done, and the third, you would like to do sometime. Make lists. Then tackle the things that must be done today, everything else can
The Early Adopters, who are the technology enthusiasts and visionaries that take on your product even unfinished and help you knock it into shape. The Pragmatists, who can see the potential, but want to be comfortable that you are going to “make it” and that you understand what needs to be put into place to service the mainstream market. The conservatives that need to see a track record and know that they are purchasing for the medium to long term, and finally the Skeptics who may never buy unless they are forced to. ca
Contact Greg Searle directly on 04 7352 5945 or email gregs@anypoint.com.au. 1300 932 277 // www.anypoint.com.au
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LATIN AMERICA GROUP TOURS 50 ISSUE 75
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