I work with client on a fractional basis, no more than 25-32 hours per month providing focused, strategic prospecting. Strategic because it is more tailored to the prospect and the conversations are deeper, I don’t just sell – I want to learn more about the prospect and their situation. Usually it is a validation of a hypothesis created to prove out that this particular buyer is a target for the solution being offered.
When working with pre-revenue startups or early stage companies, they have a hypothesis or idea of who the buyer may be. Quite often, as I have found, the entrepreneur has an idea which is usually offbase – whether it is the target company or the prospect and doesn’t have a really good strategy.
Using a number of methods, including interviewing, research, and prospect information gathering – in an iterative fashion, I *find* the market – refine the targets – and refine messaging. I liken it to crossing a chasm (not the book) where there is entrepreneur on one side of the Grand Canyon and the target buyer on the other side. As key learning via research, discussion, demos/meetings, and messaging refinement occur, the Grand Canyon gets smaller and smaller – eventually becoming a crack – that may widen due to market changes or economic factors which moreso impact messaging and positioning than the actual target buyer or company.
Granted, there are times when a product or service just does not resonate or work for any market and it fails. Or maybe it needs an overhaul. I have had a few clients where this was the case. In one or two cases, the client blamed me for a lack of product/market fit – and forged ahead – only to burn through their funding and end up a blazing pile of poo at the end.
This process I talk about is not one that is accomplished quickly. Many folks engage with me for a 3 month trial which is the equivalent of a week or two worth of work and think that there should be more or that that is enough feedback/work to determine the ideal situation. I try to tell them, the 3 months is just about enough to determine whether the product/service even HAS a market or any HOPE of success.
I worked with one of my outstanding clients for a year – setting up demos and gaining feedback. I knew it was a winner cause of the email responses and the feedback was great. The owner listened and listened and modified, he enhanced – we went back to people we demo’d and spoke to. When he incorporated a critical function (based on feedback received), the demo’s went from “looks nice call me later” to – I need this now….the sales started, the revenue grew, and the software was an industry leading solution within 5 years. He did little to no marketing. Just me, him, email, one trade show a year….very focused.
One week, two weeks, even a months work of prospecting isn’t going to create a winner. It takes time, money, and the ability to listen and iterate and build to create market alignment – especially after an MVP or first usable version is created.
And, never – ever – hire full time or sales people until that proof of sell-ability is there. The owner of the company should be able to close the business initially. Once the traction is proven, the process is there, and messaging works – then and only then – should the business begin to scale.