How we applied startup methodology to re-establish our business proposition with stunning effect
In this post I’ll share how we applied startup methodology to re-establish our business proposition with stunning effect. These principles will help mature businesses too.
“So Brett, what does Leaderkit do?” (CEO of $50M company)
“We make software that helps senior management keep their promises” (Brett)
“You what? You mean you… you what?” (CEO)
So started my conversation with a CEO of a very successful ICT business at an NZ software association dinner. It continued for an hour and a half, leading ultimately to a Leaderkit pilot for his NYSE listed US parent company and his becoming an advocate, advisor and investor in our business.
The roots of this success lie in Leaderkit hitting an impasse in late 2013.
At the end of 2013 Leaderkit had been operating for 2 ½ years.
While we had some great customers and some big fans on board, sales were harder and took longer than I expected. Something wasn’t right.
So at the start of this year we embarked on a process of rebuilding our value proposition and go-to-market using the MIT resource: Disciplined Entrepreneurship.
We worked through the 24-step framework over 6 weeks, developing theories and then testing them in the market before returning to the next step.
The stages are organised around simple themes:
By the end of the process, we were getting real breakthroughs in the market.
It’s hard to cut precious time out of your schedule to re-examine product – market fit.
It’s so much easier to do more of the same in the hope of better results.
But I hope our example illustrates the upside of building strength into your business foundations.
If any of your products are under-performing, I’d consider the lean startup toolset as an option for turning things round.