Entrepreneur team finds a really painful problem. You form a company and create a solution that early adopters tell you solves the problem. You build a minimum viable product and invite first customers to use it. A minimum viable product is that version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least effort.
Then what happens?
Everything and nothing you anticipated. But, generally one thing is certain for you to survive – you need to acquire and retain customers.
Getting customers to buy your IoT Product…
1. Hyper focus on understanding your customers especially early adopters and build something they really value and will pay you for.
2. Use Lean Startup/UX to help determine strategy, tactics, and milestones
3. Be authentic about how you communicate and deliver that value
4. Reward loyalty — you especially need to create evangelists of your early adopters
5. Reward referrals
6. Build channel partners
7. Understand your unit economics / Pirate Metrics
8. Adopt methodologies that behave like a Build, Measure, Learn Loop — test your hypothesis early and often
Fun Projects Past & Present…
I set out shortly after Google purchased YouTube to figure out how I could turn all my film non-profit and Hispanic Market experience and contacts to more directly support contemporary Latino filmmakers less interested in creating Spanish language and culturally narrow cast content…basically just about anything that was available on Spanish language TV and most [...]
Starting as a print Magazine in Chicago I was brought on board and helped build digital assets in 3 major Hispanic markets including web, email, social, mobile, blogger network, and music taste makers via organic, paid, social, and partnerships. Vision of Café Create a modern-day community that comes together to explore and be connected to [...]
Helping a start-up navigate through the Lean Start-up process, selecting a technology partner, pitching investors, and closing an International Airport is well, a fairly lofty order…but that is the final destination…and yes we have lift off. Think pre-order your latte before getting on your flight plus dozens of use cases one can solve to enhance [...]
I’m delighted to have found good partners in the Chicago Reader and Chicago.com. Not only have they executed quickly but, they are also enabling me to experiment in both a physical and soon digital channel. I give enormous and special thanks to Chicago Reader’s Kristen Davis who without hustle and savvy persuasion, this first [...]
I had the privilege of working with the Chicago Fire Soccer for a year helping lead digital strategy. And as much as I’m captivated by the shiny digital toy, I set out my own clear directive — optimize digital revenue and get digital to be seen, where it made the most sense, as a key [...]