You know how it starts: you have an idea that you’re convinced it has the potential to change the world and you start building your product on this premise. Or you’re working on someone else’s idea but on the same premise.
Either way, the road to launching successful products may end up in different stories, but there some patterns that can be identified. During the Techsylvania editions, we have had quite a number of people highly engaged in this industry, who have presented perspectives from all angles in product.
Our first pitstop is at Lisa’s Enckell talk who pointed out the essential steps for getting your app off the ground.
What is the difference between tactics and strategy and why is this important in your product plan?
Well, as Lisa mentioned, we live in an era where we can use 100 different channels and then, the data itself can result in the right tactics. Strategy, on the other hand, is what we need to get our products on the right track. The product’s positioning on the market, besides being your elevator pitch, also helps you better consolidate and coordinate a team, guiding them to work in a certain direction.
Positioning = the act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s mind.
- Define your target audience very specifically, in order to better design your product.
- Categorize your product so it can be easier to find by your public.
- Outline your competitors and your product in relationship with them.
Felix Peterson has been part of many companies from a very early stage and has developed a perspective over them both as a founder or an angel/institutional investor. His approach to launching and building better products actually goes back to the basics of it:
“You need to be dimensionally better if you come out with something. It needs to be more helpful, more interesting, just different from the solution that’s been out there before. If it isn’t really excited or addictive, you can’t really make it out there.”
Besides the part of having that awe-inspiring idea and then putting it to work, there are more challenges to come when you’re in the first phase of your company. We found out the best coping-mechanisms in a panel with Philipp Petrescu (Venture Partner, Hof Capital), Josef Dunne (Founder, Champion Prints 3D), Tugce Ergul (Co-Founder, Angel Labs) and Felix Peterson (Managing Director Europe, Samsung NEXT) 👇
We hope you found your inspiration for your product journey!
