A Quote by Sallie Krawcheck
If you don't share information among your startup's team, then it'll be just about a coincidence if product, marketing, and engineering are ever aligned. Those odds are too low to succeed.
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Too many companies believe that all they must do is provide a 'neat' technology or some 'cool' product or, sometimes, just good, solid engineering. Nope. All of those are desirable (and solid engineering is a must), but there is much more to a successful product than that: understanding how the product is to be used, design, engineering, positioning, marketing, branding-all matter. It requires designing the Total User Experience.
Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
If you don’t believe in your product, or if you’re not consistent and regular in the way you promote it, the odds of succeeding go way down. The primary function of the marketing plan is to ensure that you have the resources and the wherewithal to do what it takes to make your product work.
Startup CEOs should not play the odds. When you are building a company, you must believe there is an answer and you cannot pay attention to your odds of finding it. You just have to find it. It matters not whether your chances are nine in ten or one in a thousand; your task is the same.
I completely believe in the lean startup and minimum viable product; I just I think that people are setting the threshold for minimum viable too low.
It helps tremendously to have operating startup experience when advising startups. It is much easier to tell people how to talk to customers, build product, manage an engineering team, raise money from investors, and talk to press when you've done it before yourself.
To truly launch a great product, you need partners. Channel and marketing partners share in your success and share in the costs of reaching your target audience.
Setting customer expectations at a level that is aligned with consistently deliverable levels of customer service requires that your whole staff, from product development to marketing, works in harmony with your brand image.
Startup success is driven most by the product passion, quality, vision, team-work and persistence of the founding team and the talent that the team attracts.
Never expect that your startup can cover every aspect of the market. The key is knowing what segment will respond to your unique offering. Who your product appeals to is just as important as the product itself.
Building on our successful partnership, we can now bring together the best of Microsoft's software engineering with the best of Nokia's product engineering, award-winning design, and global sales, marketing and manufacturing.
I'd be like, alright, I don't know anything about sales. So I would search for sales on Amazon, get the three top-rated books and just go at it. I did that for marketing, finance, product, engineering. If there was one thing that was really important for me, that was it.
When you view marketing from the vantage point of the guerrilla, you realize that it’s your opportunity to help your prospects and customers succeed. They want to succeed at earning more money, building their company, losing weight, attracting a mate, becoming more fit, or quitting smoking. You can help them. You can show them how to achieve their goal. Marketing is not about you. It’s about them. I hope you never forget that.
Marketing is your battle plan for the sales team - it's about defining the landscape. Marketing is doing cohort analysis and understanding exactly what possible customers are out there. It's understanding not only which customers will respond to what messages, but also how customers will become clients if you include certain product features.
I have run engineering since day one at Oracle, and I still run engineering. I hold meetings every week with the database team, the middle ware team, the applications team. I run engineering and I will do that until the board throws me out of there.
A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival.
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