Have you seen some of those reports on “Top 10 [or 20 or 50] Reasons Startups Fail"?
Read them and you’ll be more in the dark than when you first begun.
Why? Because the reasons cited are from the failed leaders – they lacked eyesight – basically good people but unable to see – why they failed.
Why they failed is simple, not complex: Marketing is everything for startups. Fail there and you’ll fail for sure. Serial entrepreneurs, rich employees and their wealthy venture finance backers live it.
- Great technology? Takes more than that. Silicon Valley has graveyards filled with The Best Technology startups. Sorry about that, techies (and I’m one of you.).
- Best people? Only if they are marketing wizards.
- Great social network and business connections? Only if they connect to the powerhouse of marketing.
MARKETING HAS TWO CHAPTERS:
Both are aimed at a single, prime objective: In the mind of your Ideal Customer, position your product so it becomes singularly focused at launch and emerges branded as the dominant category leader. That’s success: Uber, Airbnb. If not achieved, failure.
Founders of Google and Facebook started with an idea that they shaped and launched. (Creation Chapter 1). Then began decades of Execution (Chapter 2). They crafted, chopped, added, altered, and morphed into brands that achieved that prime objective. Hard marketing work. Success.
If poorly created and launched, a product is crippled from the get-go. Very hard to fix. It will be a stressful struggle to achieve the prime objective. Because execution of their creation involves too much repair work and painful therapy. They join the lists of 101 And More Startups That Are No Longer With Us.
Well created startup ideas – but poorly executed – open the door for fresh arrivals to leapfrog, jump ahead, and build an unfair advantage. Myspace never recovered from Facebook’s leapfrog. However, leapfroggers can run out of gas without superb execution. Pebble the watch company (2012 start) was unable to sustain (execute) its attempted leapfrog over Fitbit (2007 start) who picked up the Pebble pieces after it shut down in 2016.
BOTTOM LINE: Respect and learn great startup marketing. The kind that made brands out of initial ideas. Founders who achieved the prime directive of a startup. Whether industrial or consumer, high or low tech, each new enterprise founder CEO requires marketing to win. All else is a distant second. Every employee thinking, breathing, living marketing. That’s what wins for startups. Serial entrepreneurs know it. It’s what made venture investors (and a lot of others) wealthy. So can you. Respect and learn great startup marketing. Use it to build your unfair competitive advantage.
I wish you The Best on your Adventure!