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My questions for you: 1. What do you mean by "confusingly high-tech"? Does the product solve a problem that is known to the customer? The best product i

by teyc 16y ago

My questions for you: 1. What do you mean by "confusingly high-tech"? Does the product solve a problem that is known to the customer? The best product is one that gets out of the way. This part sounds like the root of your problems. 2. Does your product actually have that many different uses/market segments? If you do, I'd recommend you talk to Sean Murphy (I heard him over at TechZing podcast where he was explaining how to repurpose or repackage and reprice a product based on different value propositions). He is ex-Cisco manager, and now advises small high-tech start ups which have a high engineering focus (i.e. not in the social spaces). You need someone who has some emotional distance from your product to give you impartial advice. 3. Is the following a dead certain assumption "I feel it must look polished for a customer to buy"? For example, if the sponsor/champion think you are on the right track and closest to what they need for their business, then you might convince them to be the pioneer/reference customer, where in exchange for a steep discount and/or deferred payment until all bugs are fixed, they get to steer the product in the direction their particular industry needs. You have already said that it has application in several industries, so there is no way your competitors can focus on them all. Try to find a niche where you can get buy-in and then focus on it. Remember. At this stage, you are a nobody. No matter how polished your product is, there is no track record. The person making the call to buy this is risking his professional career to support you. He needs to be convinced that you will be there watching his back, fixing bugs, and supporting him. 4. What do you mean by "Time is running out"? If you are running out of money, then make sure the other 2 founders understand the concept of vesting. This way, if they leave, they'll lose their share in the business. A single founder can survive off the fumes of an oil rag and push the project along.

throwawayhacker 16y ago
1. As in you cannot easily reproduce, and it is a good, useful technology. 2. Yes, there are 3-4 different applications. Thanks, I know Sean, he is a good advisor. 3. It does need polishing but many seem to advice finding an early adopter who is open to new technology. I will definitely seek out early adopters. 4. As in if we had the last leg of product finished, we would be selling today and already making revenue. Instead I feel we are wasting time.
- teyc 16y ago
  I think I understand #4. What you have is past proof of concept, but not in a shippable state. What is the price point we are dealing with? What kind of sales cycle does your target customer have? Is this an enterprise sale? Do you know how many people you need to convince within a target customer company to get sign off?
  - throwawayhacker 16y ago
    It is six figure B2B sales with a long sales cycle. It requires spin selling, the way it is described in Major account sales strategy. We should meet each customer in their premises, show an attractive demo, possibly make an early adopter sale.
    - teyc 16y ago
      I have heard of sales being done on the back of screenshots on Powerpoint, and a few front screens spruced up. What is the worst thing that can happen if the software isn't as polished as you imagined? Do you think they'll invite you back to show them progress? The worst (and the best) thing that can happen is that they tell you it is not what they had in mind. I've got myself out of a lot of strife by showing photoshop prototypes first. You don't have to lie about it, but explain that the brains behind the software is done, but the front is being configured for their industry, and this is an early prototype. It also gives you an opportunity to find out about their purchasing process, how the item is going to get budgeted etc.

by teyc 16y ago

throwawayhacker 16y ago

1. As in you cannot easily reproduce, and it is a good, useful technology. 2. Yes, there are 3-4 different applications. Thanks, I know Sean, he is a good advisor. 3. It does need polishing but many seem to advice finding an early adopter who is open to new technology. I will definitely seek out early adopters. 4. As in if we had the last leg of product finished, we would be selling today and already making revenue. Instead I feel we are wasting time.

teyc 16y ago
I think I understand #4. What you have is past proof of concept, but not in a shippable state. What is the price point we are dealing with? What kind of sales cycle does your target customer have? Is this an enterprise sale? Do you know how many people you need to convince within a target customer company to get sign off?
- throwawayhacker 16y ago
  It is six figure B2B sales with a long sales cycle. It requires spin selling, the way it is described in Major account sales strategy. We should meet each customer in their premises, show an attractive demo, possibly make an early adopter sale.
  - teyc 16y ago
    I have heard of sales being done on the back of screenshots on Powerpoint, and a few front screens spruced up. What is the worst thing that can happen if the software isn't as polished as you imagined? Do you think they'll invite you back to show them progress? The worst (and the best) thing that can happen is that they tell you it is not what they had in mind. I've got myself out of a lot of strife by showing photoshop prototypes first. You don't have to lie about it, but explain that the brains behind the software is done, but the front is being configured for their industry, and this is an early prototype. It also gives you an opportunity to find out about their purchasing process, how the item is going to get budgeted etc.