stages of development - International Business Growth Radio Network

BUILDING OPERATIONS FOR A STARTUP - SHOW 8: UNDERSTAND WHAT YOU ARE TESTING - WILLIAM EASTMAN

14/2/2022

Last week in Show 7 we covered the Planning Stage to create a process that will increase the probability of success of your initial offer. Today in Show 8 will start addressing all of the potential variables we will test during the research, build, and testing of the offer prior to a full launch.

EPISODE 25: WHAT ARE THE REAL SUCCESS FACTORS?
OK time to pull our research together and focus on the specifics of the build, and that starts with customers. The following topics are the major areas you must drill down on to get a clear picture of required Design Requirements.

Topics:

Targeted Customer
Offer Characteristics
Market Timing

EPISODE 26: TARGETED CUSTOMER(S)
Starting with the most important issue, who is the highest probability customer who will find value in your initial offer and willing to buy first or early.

Topics:

Start with the smallest cohort group possible
Understand how value is perceived by the targeted customer
Find a co-development partner to test & validate
Create a buying persona

EPISODE 27: OFFER CHARACTERISTICS
Now we have a buying persona which means we know how they search for information, what they evaluate about the company and its offer, and arrive at the decision to buy. Let's make all of those elements obvious and easy to find.

Topics:

Physical characteristics?
What does the offer do?
What additional value does it provide?

EPISODE 28: MARKETING TIMING
So far our focus is on being right. There is one problem. Being right at the wrong time will lead to failure and therefore the market situatio needs to be accessed.

Topics:

Where is the market for the initial offer? Innovation, Early Adopter, Early Majority, Later Majority, Laggards
Where is the market/customer in the sales cycle?
Where does the company stand in brand awareness?
What are competitors selling that is similar to our offer?
Where is economy and how will that influence timing of the buying decision?

Next Show: Creating a list of testing variables.

"The World Of Business At Your Finger Tips"