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How to nail your product market fit and sales pitch with a value proposition diagram | tomasz by Tomasz TunguzProducts aren't sold in isolation - they exist within ecosystems. Great product market fit and sales pitches hinge on understanding and serving all the members of an ecosystem. Should a product fail to meet the needs of any one member, company success and sales velocity will falter. One tool I use with portfolio companies is the Value Proposition Diagram (VPD) which shows why a product is compelling to every customer - and most products are sold to more than one customer at the same time.
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Marketing, startups and the importance of achieving a lot with a little (for startups) « The Equity KickerOver the weekend I was talking with an early stage VC about how much traction he likes to see in a company before he invests (answer: enough to have some confidence that the product works, the go to market works and there is some demand). Subsequently I was thinking through how companies would get themselves to that stage without needing the sort of funding he provides. There are a number of answers of course, including true seed stage friends and family and angel funding, but the most important answer to to find a way to achieve a lot with a little. This morning I have been reading through Fred Wilson ’s three recent posts on marketing and the responses from Alan Patrick and randfish of seoMOZ which discuss the pitfalls, benefits and likely trends in marketing spending at startups and I have been thinking back to my conversation of the weekend.
Rand Fishkin has a good post in response to my marketing posts over the past two days. In it he makes this assertion: And then he shows this great graphic:
Watch this video with Indinero’s founder, Jessica Mah. She’s 20 years old. I’ve known her since she was 16 and she’s always been an aspiring entrepreneur. But look around the house that the co-founders all share. Five geeks sharing rent in Silicon Valley.
Update added to end of post When your startup accepts outside money (such as venture capital), you are obligated to focus on maximizing long-term shareholder value. For most startups this is directly based on your ability to grow (customers, revenue and eventually profit). Most entrepreneurs understand the importance of growth; the common mistake is trying to force growth prematurely.
The 5 Minute Guide To Cheap Startup Advertising The following is a guest post by Rob Walling. Rob Walling has been an entrepreneur for most of his life and is author of the book Start Small, Stay Small: A Developer's Guide to Launching a Startup . He also authors the top 20 startup blog Software By Rob , that's read by tens of thousands of startup entrepreneurs every month and he owns the leading ASP.NET invoicing software on the market in addition to a handful of profitable web properties.
A few successful websites were built almost entirely through viral growth. The vast majority, however, started off by partnering with other, already successful websites. Even Google began by partnering with Yahoo.
On Thanksgiving, Pinterest’s co-founder Ben Silbermann sent an email to his entire user base saying thanks. It was fitting, as Pinterest was born two years ago on Thanksgiving day 2009. Ben had been working on a website with a few friends, and his girlfriend came up with the name while they were watching TV. Pinterest officially launched to the world 4 months later. Some startups go crazy with hype and users right after launch.