At some point, all young start-ups come to this point: they have to go to market. Customers should buy your product. What are the strategies for entering the market? What pitfalls, what do you have to consider? For this latest podcast episode, our editor Laura Steinau once again has our start-up consultant Konstantin Kollar at her side for advice and practical help.
“When a company enters a market, it does business in a product-related, target group-related or geographic market that it has not previously worked in. This is how a business dictionary defines it. In other words: Your product is now to be sold to the man* woman.
In order to plan the market entry, it is essential to think about the step to the market right from the start when coming up with the idea or to talk to people/companies who will then use your product. It is also important to know your own market and your competitors. An analysis of the market size and potential or a competition analysis will help you. You can find manuals here. The most important thing, according to Konstantin, is to know: “Who is my very first customer? The more precisely I can narrow that down, the more successful I will be in my market entry.”
Then, of course, it’s all about market entry barriers, strategies and – avalanche airbags, just listen in. Basically, this episode can be summed up in one tip: don’t lock yourself in the closet, talk to customers about your product early and throw it on the market as early as possible. Lean Startup methodology through and through.
You can listen to the latest episode here: