Innovate or Sell first ?

We innovate to solve a problem in a better way in a way that it is lucrative for your customer to change their habits & start using your product

Without innovation, it is hard to distinguish yourself once you launch a product due to lack of incentive.

Common belief is that a product need to be 10x better than the existing alternative. Now this 10X term is somewhat exaggeration but to explain how better a product should be, because it is very hard to quantify alternative solutions. There should be a difference of day & night and compel the user to say Waoo.

Innovation & selling go together, however, the order in which they come differentiate if it’s a research or startup.

In Startup, you sell first by finding the problem & then innovative on how to solve the problem efficiently. Risk in this approach is that, you might not be able to innovate an efficient way.

In Research, you innovate first because you think there is a better way to do something, and then try to find the customers who have the problem. Here the risk is if it is a commercially viable product or not.

Now it is up to an individual to choose  what is the biggest risk for him, fail to innovate after discovering the problem or fail to sell after innovating!

I will choose innovation risk over selling risk unless I innovate on how to manufacture water based engine.

2016-03-06T15:48:52+00:00March 22nd, 2015|Categories: Startups|9 Comments

9 Comments

  1. Josoeph May 22, 2015 at 4:35 pm

    Well, how would it work out if you are selling a medical device. You have to innovate first to prove that it works.

  2. Dale Gauntt October 23, 2015 at 3:24 am

    I can certainly associate to it. I was working for a company and we kept on developing a product and made marketing plans but totally ignored the interview part. When we launched it, we failed completely.

  3. Cedrick Bahl October 23, 2015 at 7:20 am

    Solutions are hard to find. There is no shortage of problems in the world. So innovation should come first. specially in case of social issues.

  4. Jillian November 15, 2015 at 10:10 am

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  5. Lesley November 16, 2015 at 1:25 am

    Well, easier said than done. It is very very hard to convince any one to pay you if you don’t have a product.

  6. Ellen November 16, 2015 at 7:07 am

    Kick starter and other crowd funding websites have changed behavior of consumers. They are happy to pay upfront for the product. It was not possible 2 decades ago

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