This may not qualify as “new news”, but damnit, it needs to be shared [again…and again]. Too many startups struggle with a lack of focus. Lack of focus on product, on market fit, on appropriate growth tactics for different stages. It’s a hard game, I know. The to-do list is never ending and you’re constantly swimming against the tide while trying to guess what tomorrow will bring. As Sir Richard Branson observed:
An associated error [in startups] is lack of focus. If your startup has been tagged as “the next big thing,” the adrenaline rush that comes with building buzz can lead to impetuous decisions and a loss of a sense of purpose. Many entrepreneurs end up sprinting in many directions instead of taking assertive steps toward their target. Clearly define your goals and strategies, then establish a timeline.
Sounds easy enough, yeah? Unfortunately, it simply ain’t that simple. But here’s a trick straight from Amazon that both product and marketing teams can put into action immediately before spending precious time and effort on development. It all starts with an internal press release.
For new initiatives a product manager typically starts by writing an internal press release announcing the finished product. The target audience for the press release is the new/updated product’s customers. Internal press releases are centered around the customer problem, how current solutions fail, and how the new product will blow away existing solutions. If the benefits listed don’t sound very interesting or exciting to customers, then perhaps they’re not (and shouldn’t be built).
What a ridiculously smart way to not only stay lean with product development, but even more so to effectively zero in on value propositions.