This week was very pivotable for our company. Throughout our pass/fail test we recieved a lot of positive feed back from our cusotmers and a lot of insights. Even after talking to these customers I still have a gut feeling that are product still isn’t solving a big enough need for the to opt on.
Thinking back to Nathan’s theory of passion driven marketing I realized that in order for our company to gain the virality that it needs to be successful we need something that people will gravitate to and share about to their friends becuase it is just that good. I do not see people doing this with a budgeting and coupon app. First off, no one likes to budget. It’s like ripping off a band aid. We don’t want to do it, but it must be done. Then theres couponing. Once again people like that idea of saving money, but they really don’t want to put in any work to doing it.
On Thursday, our team sat down and started talking through these problems. It was here I realized that because we weren’t solving a passion/ high level pain our start-up was halted. It wasn’t moving, we couldn’t nail down an exact revenue stream, and we were sort of losing a fire behind the original idea. Cue in the need for a pivot.
From here we starting going through what our customers were telling us and thinking what some pain points were. While we were doing this Ryan mentioned a high pain that he had regarding food and cooking. From here our team kept adding ideas on to develop something that has a clear revenue stream, something we are excited about, and is a passion/high pain for a lot of people. (Due to the lack of security on the web, Brother Crawford you are going to have to wait till Tuesday to know what it is).
I am excited to see where this pivot will take our group. This week has reminded me of IBC and the importance of being willing to make changes and listen to your gut when you know that a dead end is on the horizon.