Focusing on Selling
Most technology companies spend there 'youth' developing some IP and sometimes that's all they ever do. Their novel idea results in something that can be licenced to other companies that focus on exploiting this in the market. However, for many technology companies it is up to them to go out and sell their product or service. This requires a whole new skill set and focus that may not come naturally to the founders of the business. How you get past this growth stage is critical. The ability to demonstrate repeatable sales, significantly increases the chances of raising finance to fund expansion. All too many of the investment propositions we see have left it too late to start selling!
Indeed, many such innovators may believe all they need to do is make it! The reality is that only innovators in your market will seek it out. To really make the numbers stack up someone has got to go out and sell the dam thing to people that really could go either way! So you don't just need a good product, you need a good sales and marketing strategy -- and the people to execute. Get selling as soon as you can! If the objection is that your product needs another bell or whistle don't accept this. Someone, somewhere has to buy into your vision. This validation is key to raising investment. Go and get some ASAP!
