product innovation.

Don't focus on tech

How many times have you heard about that "great product" that didn't have any customers?

This is the classic mistake when it comes to entrepreneurship:

  • have an (average) idea
  • build the product
  • launch and try to acquire customers
  • go bankrupt

There's a simple solution to this problem: Don't focus on tech until you have to.

The better version of launching a new venture is:

  • have idea
  • do research
  • create an attractive landing page with your value proposition
  • pre-launch (aka get a lot of visitors to the landing page - via ads, marketing, sales)
  • refine your idea by listening to what potential customers say
  • build Minimum Viable Product
  • launch your refined product to your refined customer base

Why is this better? It's kind of obvious:

  • you won't need to invest in development/tech until you know what your customers want
  • you'll have a much better idea of what you're supposed to build
  • you'll have a list of potential customers that you listened to between pre-launch and launch

At the end of the day, what is tech all about? It's about automating previously manual and/or hard work and making everything work faster and better. But if you're doing that for tasks that nobody minds doing manually, you're just throwing money out the window.

Actionable advice: no matter where you are with your business, focus more on your customer acquisition and satisfaction than on your tech stack. You can always find developers and build rocket ships once you have enough customers.

If you like our articles and want a free consulting session for your business, just say hello at universalabs dot com