Go To Market Strategies and Competitive Landscape Analysis
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Go To Market Strategies and Competitive Landscape Analysis
- 1. Rachel Pike, DFJ Orrick TOTAL ACCESS October 9, 2013 GO TO MARKET & COMPETITIVE LANDSCAPE
- 2. Go To Market
- 3. Getting that first customer • • • • • Think of your first deal as a partnership Creative artificial time pressure The evangelical salesman Flinch pricing Paid pilots Remember: One customer does not a company make! (also: feature vs. company)
- 4. The key to selling… is to know when to stop building.
- 5. What comes next? • Scaling sales operations • Repeatable business or partnership deals • Reduction in spin up time and cost per customer
- 7. A slide like this… Giant Incumbent Fledging Competition Not even in your market ✓ ✓ ✓ ✓ Feature that some of the competition has ✓ ✓ Unnecessary feature your competition cut ✓ Feature you think you have ✓ Feature you wish you had ✓ Feature list Feature everyone has YOU! ✓ ✓
- 9. You don’t operate in a vacuum…
- 10. So know your place. your startup operates in the context of an ecosystem there are those you partner with and those you compete against and those who keep you awake at night
- 11. You know more than investors about your space. Own it! Teach ‘em something.
- 12. Know the ecosystem Competitors: direct, indirect, potential entrants Partners: suppliers, channel, resellers, cosellers Substitutes: drop in, partial, how it’s done today
- 13. What if? Your competitors are NOT corporations? o Economic + political trends o Cultural + social shifts o Technological innovation o Regulations + legislation You still need to include them in your risk analysis.
- 14. SWOT Analysis Strengths: why you kick ass - Team - Technology - Scalability - Execution - Customer acquisition & retention - Distribution Weaknesses: why you don’t kick ass - Team - Lack of Technology - Scalability issues - Inability to execute - Unreliable product/service - Poor distribution Opportunities: why you might kick ass - Early mover - Emerging segments - New technology - New distribution channel - Changing tastes - Etc. Threats: why you might not kick ass - Competitors w/ more $ - Emerging segments - New technology - New distribution channel - Changing tastes - Etc.
- 15. A long view • Create a long-term sustainable advantage IP, roadmap, network effects, switching cost • Continuous learning & innovation Recruiting, culture, 20% time • Excellence and speed in execution • Don’t obsess about others • A little competition is healthy Keep an eye on competition but don’t loose focus on what’s really important: the customer!
- 16. Deciphering a VC What we say… What we mean. Who do you compete with today? How are you different from the 15 other dating fitness trackers I saw this week? Who will you compete with tomorrow? When does Google plan to do this? I’d like to better understand how you are different, what’s your competitive advantage? Sorry, what did you just say? [Insert name here] just raised $50M from these 10 firms, how are you differentiated? Your competition has deep pockets… will anyone be willing to fund your next round?