By Guest Blogger, Mary Schmidt, Marketing Troubleshooter
(From my "those dang customers have minds of their own" file)
Once again, I'm serving as an adviser for the annual TVC equity symposium, where entrepreneurs present to potential investors. Adviser teams review the biz plan, help with everything from IP protection to marketing, and assist with developing the 10-minute presentation. I always enjoy working with such excited, optimistic people. And, I learn as much as (I hope) I educate.
However, there are consistent blind spots - regardless of the entrepreneur's experience, industry or type of company. One of the biggest is assuming that because the customer should (of course!) want your product is that they will want your product (and then it's a whole 'nother exercise to get them to pay for it.)
This blind spot affects everything from target market validation to marketing communications. Assumptions become written in stone, if one isn't careful. For example: