🪴 (plotted plant) | Literature note |

Extractions from Podcast

https://open.spotify.com/episode/03LfsFPnDQPhQQ6igkXIsB?si=wmaQUZ5qRm62-7r3X_GPKg&context=spotify%3Ashow%3A6AVgt0Cx1Rnzrg2CBbEygM&nd=1 Guy Podjarny

  • thinking outside the box - challenge status quo
  • work in high intensity surrounding
  • when you’re comfortable you’re not growing (no growth without pain)
  • need to learn things very quickly
  • selling with believe in the product and not deal making

  • break things down and extract main principles, find fundamentals
    • then relate that to needs
    • and grow thinking from there, build on those components
  • anchoring in the future … in fives years time, would that be more or less necessary, and why
    • starts with asking that question
    • steers to invest appropriately
    • pick a different idea if you can’t strongly argue about 5 years time
  • marketing timing in about 2 years
  • big vision, small steps - don’t get stuck in a step, get going
  • drill down on the market size?
    • need to access to potential value proposition market size
    • investors need to have a market size figure in there
    • so think though that and walk them through you market size argumentation
  • focus on magnitude of value … and then derive $value from there. (? not clear what that means)
  • it matters to be a leader in a market, it is not that much about being first in a market
    • differentiation in the market matters
  • use messaging to build the right product
    • message forces to distill the customer need, precise to the core points
    • leads to higher focus
    • translate to a customer need and understand their experience end-2-end
    • think about the entire use case
    • nobody cares about your product - they care about the problem you’re solving
    • market evolves, product evolves, needs evolve - so messaging has to adapt
  • develop fast, stay secure
  • you can’t be everything to everyone - have a precise picture of needs and the group with that needs
    • pick a small/big enough slice and focus on that and then evolve from there
  • ask and try to understand why something is not working
  • Movement will go further in directions of team empowerment. So they will increase their buying power for tools/topics in future. Over time.
    • product led, empowerment based and user focus solutions
    • help users to communicate with their buyers and help the buyers understand the use case
    • what is of main importance is the value to the user
  • reversion back to bundling
    • driven by cost savings
  • what is our primary value proposition?
    • for productivity - how can you directly show that
  • low frequency - high pain: you need high presence
  • high frequency - low pain: reduce effort of picking solution must be small (lower the friction)
  • low frequency, low pain - should just be a feature
  • 7 powers framework - how do you deliver value to a customer
    • How do you deliver a sustainable, superior, significant value
    • calling it power instead of moat
  • Defensibility in early stages?
    • in the beginning you cant (except with exceptional knowledge, significant set of skill)
    • Critical: How can that build something that can become defensible
    • Defensibility
      • Network
      • Data
      • Switching cost
      • Counterpositioning to other industry
      • Inception
      • Legal protection
  • In the beginning 90% of focus should be on finding product market fit and then think about 7 powers. Have a rough idea on the powers.
  • PMF
    • when demand outweighs capacity to satisfy (e.g. can’t hire, spin up fast enough)
    • product user fit to - get to the value AND product buyer fit - the business model that works
    • who is it that you provide value for
    • Speed of execution - the speed of iteration to accelerate speed of learning
      • at the same time, iterate in the right direction
  • Qualities of power (you know where to invest)
    • Brand power - sell same product for significant higher price because of pride in product
    • Process power
    • Counterpositioning - Product Led Growth
  • Exercise - take 4 primary competitor capabilities and write down how you differentiate from that
    • what capabilities can you build and which ones are superior,…
    • in 5 years from now …
    • distill in top 1..2 top items
  • 7 powers help to drive focus on where to invest, pick the next thing to do. Which of our powers help with the extension. What are our core market differentiators
  • design partners - early customer that help you shape the product
  • investing
    • put a lot in due diligence
    • invest for the learning
    • mistake: investing in things that are obvious
  • When you have a good idea, you are likely not the only one! You better get going
  • Do not hire too big, too early

The 7 Powers framework

The “7 Powers” framework is a strategic framework developed by Hamilton Helmer. Book: 7 Powers - The Foundations of Business Strategy.

The 7 Powers framework identifies seven fundamental sources of power that can contribute to a company’s long-term success and competitive advantage. These powers are as follows:

  1. Scale Economies: The ability to achieve lower costs and higher margins through economies of scale as the business grows.

  2. Network Economies: The value and advantage derived from having a large network or ecosystem of users, customers, suppliers, or partners.

  3. Counterpositioning: The ability to occupy a unique and advantageous position in the market that is difficult for competitors to replicate or challenge.

  4. Process Power: The power derived from superior processes, systems, or technologies that enable efficient and effective operations.

  5. Branding Power: The strength of a recognized and respected brand that can command premium pricing, customer loyalty, and competitive advantage.

  6. Cornered Resources: The control or ownership of scarce or unique resources, such as essential inputs, intellectual property, or distribution channels.

  7. Switching Costs: The costs or barriers that make it difficult or costly for customers to switch to a competitor, thus creating customer loyalty and reducing churn.

Being an entrepreneur provides a lot of special learnings

  • fundraising - fundraising is part of building the business
  • driving towards an MVP
  • hiring smart people and attract them
  • selling with empathy and getting the message through
    • empathy & analytical


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