Approach

You had the idea, you have solved the technical problem, but how do you commercialize your innovation?

In any deep tech start-up, the innovation is the seed, but to transform that into an successful offer you must answer three key questions:

Who will I sell to?
Why will they buy from me?
How do I reach them?

The answers to these questions will help prioritize development, increase your chances of success and maximize value generation.

Who will I sell to?

Oftentimes, a new technology can be applied a multitude of problems, and every discussion with a potential customer yields new product ideas...

To avoid spinning in too many directions, it is critical to define your initial customer target, considering various aspects such as the size of the potential market, willingness to try new technologies, duration and complexity of their buying cycle.

Having a well defined target customer helps to qualify new leads. It also informs the answers to the others questions: why will they buy from me, and how do I reach them?

Why will they buy from me?

This first part of this question is will they buy? In other words, do they have a need that is sufficiently important and urgent that they are willing to part with their money? Typically this will be for a combination of increased revenue, reduced costs and/or reduced risk.

The second part of the questions is will they buy from me? Are you offering something similar to your competitors, but you do it better/faster/cheaper? Or is your offer truly unique and the competition is indirect, using different way to address the customer needs.

Having a clear understanding of the above allows you to build a value creation hypothesis and gives you an initial idea about the pricing of your solution

How do I reach them?

Once you know who you are building your offer for, and what benefits you will provide them, you can work on the how?

Do you sell direct, or do you go through partners with established access to your target customers? Do you build the whole solution, or do you focus on a specific repeatable element and then work with suppliers and partners to complement this?

And importantly, how do you expect to get paid? Do you maximize upfront revenue or focus on building a recurring revenue stream? What are your pricing elements and how does pricing evolve as customers increase usage?

These questions shape your GTM strategy, the overall business model and the development priorities. You will formulate assumptions and then rigorously test them before either confirming or adjusting your approach.

Contact

contact@alpnexus-strategy.com

+33 6 17 03 29 62