Why Startups Need a Well Articulated Strategy (And How to Think About Yours)

Put simply – you need enough users in a segment who care about what you’re doing to dictate investing further in the product or in sales & marketing resources. If you solve a deep problem for a niche user group but not enough users have the problem you won’t achieve product / market fit. Or if you solve a problem for a big segment but your solution isn’t significantly better than alternatives – you won’t have a fast-growing, successful business. I often call this “going a mile wide and an inch deep.” The answer to either problem may mean simply refining your product to solve deeper problems or expanding the product scope to meet a larger group of customers’ needs.

 

(Full Post: http://www.bothsidesofthetable.com/2013/06/04/why-startups-need-a-well-articulated-strategy-and-how-to-think-about-yours/


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Mark Suster 

Mark Suster is a 2x entrepreneur and an investor. He joined Upfront Ventures in 2007 as a General Partner after selling his company Koral to Salesforce.com. He focuses on early-stage technology companies. 

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Filed Under:
Collection: Strategy & Starting Up
Category: Starting Up