It's The Service, Dummy
It's The Service, Dummy
A note of encouragement to anyone who witnesses imitation.
Company conference season is a generally exciting time for most, but from the view of those who are building nascent projects- it can be somewhat horrifying. There is always the risk that the project you created with a small group of people can get the wind knocked out by a simple 5-minute announcement.
As such, one of the most popular refrains that comes out of the collective mouths of growth private equity is "What happens if ${bigCompany} does this?". Although cliché, it's not an irrational question; if you ask most founders, many prefer to be free of competition. The people funding their companies would concur. In defense of that question, the real heart of the ask is: what makes you different enough for you to stay relevant in the consumer's minds?
Through the past few years, I have been honored to see friends, acquaintances, and peers build new ventures, only to witness a flashy new entrant knock the wind out of their sails and abandon the effort. However, this is my reminder to all that you are in this effort to serve. Dedication to that mission will keep you going despite the long march.
As someone that witnesses the product dance from both ends of the spectrum, large companies may have the staffing, the initial effort, and the go-to-market that assures some outcome. However, most likely can't maintain the attention, the focus, the perspective that only your product can provide. With enough concern to detail with the proper positioning, the opportunities that seem small to a significant entrant may later lead to the eventual divestment of your competitor's solution. These are the types of races that a business like yours can persist and later thrive in.
The market cares about the attention you give to their concerns, how you communicate to your customer, and how you best solve their problem. These nuances make the of art building companies' fascinating despite the potential heartbreak of entrepreneurship. Just as a painter imprints on the world the vision of their creation, you must impress your view on how customers should be treated.
That should make all the difference- it's all about the service. Ensure it's unrivaled.
It’s a rough world out there, let’s remind ourselves to be kind and charitable to one another.