Evolving from a Product Idea to a Repeatable Success
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This document provides an overview of key principles for evolving a product idea into a repeatable sales success. It discusses lean startup principles of build-measure-learn, validated learning, and innovation accounting. It emphasizes the importance of understanding your product, customers, and how to reach them. The document recommends blogs and books on entrepreneurship and achieving repeatable sales, and stresses always improving, avoiding complacency, proving concepts before scaling, and engaging customers.
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Evolving from a Product Idea to a Repeatable Success
- 1. Evolving from a Product Idea to a Repeatable Success Scott Barnett www.repeatablesale.com @scottabarnett
- 2. About Me • Enterprise Software turned Cleantech • 24 years industry experience (Product Dev’l, Sales, Marketing, Startups, Failures!) • Started blogging in 2010 about repeatable sales issues • Current a Global Sales Leader for GE Energy Storage (Durathon)
- 3. Lean Startup Principles • Build-Measure-Learn • Validated Learning • Innovation Accounting • The Law of Small Batches PRODUCT STRATEGY VISION
- 4. Marketing/Sales 101 • “What” are you selling • “Who” is your customer • “How” do you reach them • “Why” do they need your product/service? “The first principle is that you must not fool yourself and you are the easiest person to fool.” - Richard Feynman Blog Post: http://bit.ly/yWBpeL
- 6. B2B vs. B2C • You better be viral to do B2C • B2B is hard. No shortcuts • Get the right people (Mavericks) • Tactics / Strategy • Channels • Should you blog? Blog Posts: http://bit.ly/ladkSX http://bit.ly/rFu9hr
- 7. Entrepreneur Wisdom • Tenacity is about pushing forward every day and not accepting “no’s” while resiliency is about taking punches every day and not falling down. (Mark Suster) • Forgive and remember (Jeffrey Pfeffer) • High touch makes all the difference for a startup to engage with its customers – GET OUT OF THE BUILDING
- 8. Must Read Blogs/Books • Mark Suster – http://www.bothsidesofthetable.com/ • Steve Blank – http://steveblank.com/ - and his book (4 steps to the Epiphany) • David Skok – www.forentrepreneurs.com • Startup Lessons Learned (Eric Ries) - http://www.startuplessonslearned.com/ and his book (The Lean Startup)
- 9. The Repeatable Sale • Always Improve/Iterate • Competition is Good • DON’T DRINK THE KOOL-AID • NAIL IT BEFORE YOU SCALE IT (Steve Blank) www.repeatablesale.com
Editor's Notes
- I strongly recommend reading The Lean Startup – by Eric Ries – which came out in September 2011. Main Concepts: Build – Measure – Learn – strong need to “Pivot” if the numbers don’t make sense. Validated Learning – don’t “achieve failure” Innovation Accounting – How much is it costing you to innovate? Do you know? Small Batches – can you innovate in smaller batches?
- DON’T DRINK THE KOOL-AID (Every entrepreneur who has failed)Your stuff is not nearly as good as YOU think it isNAIL IT BEFORE YOU SCALE IT (Steve Blank)Be wary of the “Sugar Daddy”If you can’t create a cookbook, you don’t have repeatability