20+ Years in Product Marketing and B2B/SaaS | Innovating AI & Driving Growth in Home Care & IT/ITES | Expertise in Digital Marketing, Brand Management, Performance Marketing, Demand Gen, ABM & CRM/Marketing automation
Willingness to Pay the hidden element of perfect #ProductMarketFit Uber took 14 years to achieve profitability. You have 3-18 months to accomplish it. The product itself functions well and delivers its intended value. You need to capture some of this value and build a sustainable business. For bootstrapped businesses, it's crucial to test Product-Market Fit and Willingness to Pay simultaneously. A business that isn't generating revenue is merely a hobby. ❌ Some business models (like social media, media, marketplaces, games, and product-led companies) focus on gaining adoption first. In these cases, you need scale and network effects before monetization, known as the cold start problem. ✅ In most scenarios, you can start pre-selling before the product is fully developed and prioritize profitability from the outset to validate your business model. In the next few posts, we will delve into pricing, understanding willingness to pay, and different business models. Let's make it rain! 💰
LinkedIn Top Voice- BD, IT Sales, Sales Mgmt | #Industry4 Sales 13 years | Digital Transformation expert #XR #AR #VR #AI Artificial Intelligence #Metaverse #Blockchain #Web3 #App #Web #ImmersiveTech | Interviewed by BBC
1moBingo!