Why Only Two Things Matter?
I talk a lot about the distribution part of the startup/business highway, because that's the part which is often overlook by technical teams. But it's obviously just one part of the highway to success.
What does it mean? It means that as a startup or new business you only have two obligations:
1/ to figure out your "innovation" = what problem or JTBD (Job To Be Done) you are solving, or making easier and how;
2/ to figure out your "distribution" = for whom you are doing it and how you can reach them;
Already several decades ago Peter Drucker said: "Business has only two functions - marketing and innovation." That's what he meant.
The Innovation part is where you define your product as narrowly as possible at first. The narrower, the better because you want to make it absolutely clear for everyone who looks at your MVP (minimal viable product) or early releases that this is product which is solving AAA, not XYZ or ABCD or BCDZ.
It will help you find your first users/fans faster. And it will help them to understand clearly what "blessing" you are bringing. It will help you find them, learn everything you can about them, and see what else you can help them solve. You will also see if the JTBD you aim to solve carries big enough pain that they would like to pay you (and how much) for solving it.
The Distribution part is where you discover everything that turns your innovation into a business. This is about ways to distribute, market, promote, and sell whatever you make in the innovation part.
It is also the part where you tell stories, build community, design partnerships, and co-create. It's also the part where you set the price to serve the best possible market for your business.
This is as creative and as important part as the innovation. You are figuring things out as well and you need to be really creative too. Things to figure out may include physical logistics or just digital distribution channels, but they must always include unforgettable experiences because that's how you can win in the crowded marketplace of today.
Highway is Yours Now
I hope it's now clear, why your project needs to be racing on both sides of the business-life highway if you want to win! Nobody can do the race for you and the race itself is what matters. There's no destination where the race will be over. It's always on - until you stop racing.
In case you have questions, or need some help with the race, please get in touch. I love the race!
Also, please reach out if you believe you are killing it in your race with a cool on-chain project and you'd like to talk about on Web3 Magic podcast! I'd love to have you.
I hope to see you around, if you like - bring your friends - and let's support each other!
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