|
Marketing magic
|
28/11/2006
|
| |
For many start ups, the hardest challenge is to understand what is meant by ‘market facing’. Entrepreneurs may have the technical experience and enthusiasm to take a new idea to market, but they often lack the commercial knowledge and business intuition to make it succeed.
An experienced marketing expert is rarely an option for a small company, let alone a start up, but help is at hand, particularly for start ups in an incubator environment. Achieve (www.eucist.info), an EU funded programme, has developed tools to help incubators and agencies provide expert advice, guidance and coaching to technology start ups. Achieve is also building a network of incubators throughout Europe, aiming to provide a two way communication channel for contact building and expanding market knowledge and awareness.
According to Dominique Vian from French incubator Ceram – a founder of Achieve – start ups need to understand the nature of their target markets, the application opportunities and the competition. Essentially, they need to develop the most appropriate market strategy and develop the business accordingly. A sound market facing approach can also ensure a startup can better position understand its financing needs.
“Start ups need to determine how their technology can be translated into products that solve real market needs – and that means talking to potential customers,” Vian added. “We have found that start ups from incubators are generally more open to the guidance and coaching that will take them in the right direction,” he commented. “Sometimes, we come across start ups that think they know it all. We can provide guidance, but we can’t insist they apply it. It is important to assess the start ups and work with those that are coachable,” he explained.
|
| |
Author
Louise Joselyn
|
| |
| |
|
| Email this article |
|
|