The triangle of success or failure. Depends how you use it.
This is what I call it, great name eh? I know, I am a big branding guy. It's your golden ticket to success but it's also so difficult to nail.
Why? Because it's a moving target. And each one plays off of one another.
When launching a new product, validate the triangle. Nail all 3 pieces of the triangle and you'll be off to the races.
Don't... and well... you'll be off the road.
1. The Pain
Do you understand the pain?
I mean deeply understand the pain. To the point you can clearly articulate a "day in the life of Bob" type of detail. You know so much about Bob and his pain you could write a book about it.
You can speak for Bob. It's a level of a detail you've acquired because
you've spoken with a 100 Bobs. Not about your solution, but about Bobs pain. You get Bob. 2. The Product
Is the product you're building solving the pain? Most of us skip to this step without completing #1 and we HATE to admit it.
I know I do.
Why? Because well
building shiny objects is fun! We can show people how creative and innovative we are. But if the product doesn't solve the pain from 1 that's all it is - a shiny object.
And shiny objects don't build businesses. Shiny objects sit on shelves for your parents to admire.
Solving pains build businesses.
3. The Market
There are plenty of products that solve pains but there is no market for them - people won't pay for them. This is the hardest when it comes to B2B software.
Why? Great question Nate!
The buyer is often not the user. You can solve the pain for the user but if the buyer doesn't benefit, you got nadda.
You can also have a bomb solution but if you don't know how to position it in the market, you've got nadda.
It's like the old saying... if a product is built in the woods but no one is around to hear the sales pitch... does it still sell?
Ok that's not a saying, I made that up. But I think I may use it.
Follow the triangle.