{"id":11,"date":"2006-05-14T13:48:19","date_gmt":"2006-05-14T21:48:19","guid":{"rendered":"http:\/\/www.bd.handspicker.net\/blog\/archives\/2006\/05\/14\/strategy-early-market-development-and-the-rubber-chicken-circuit\/"},"modified":"2007-03-17T11:21:18","modified_gmt":"2007-03-17T19:21:18","slug":"strategy-early-market-development-and-the-rubber-chicken-circuit","status":"publish","type":"post","link":"https:\/\/www.bd.handspicker.net\/blog\/archives\/2006\/05\/14\/strategy-early-market-development-and-the-rubber-chicken-circuit\/","title":{"rendered":"Strategy: Early Market Development and “The Rubber-Chicken Circuit”"},"content":{"rendered":"

On his blog “The Post Money Value<\/a>“, Rick Segal has some excellent advice for early-stage entreprenuers that find themselves in the spot-light of The Rubber Chicken Circuit<\/a>. Few startups have the people resources to be able to afford to galavant around the rubber-chicken circuit during their pre-product phase. Even if they have the capital resources for such adventures, the opportunity costs associated with having their senior executive distracted from their primary duties is far too high.<\/p>\n

That said, there is also some value in strategically (i.e. selectively) exploiting the spot-light, if you find yourself so blessed.<\/p>\n

<\/p>\n

1) Keeping your nose to the grindstone pursuing an “if we build it, they will come” attitude can result in building a product\/service that solves a known problem, but which no-one wants to buy. The rubber-chicken circuit is one place to test out viability in the market.<\/p>\n

2) You might also create a product\/service that is a wonderful solution to a problem potential customers didn’t know they had. If those customers don’t figure out they have the problem soon enough after release, you’ll be equally unsuccessful. The rubber-chicken circuit is one place to start early market development.<\/p>\n

3) The spotlight is notoriously fickle and fad-ish. Your 15 minutes of fame is an opportunity to build brand awareness for the company and its future products. You may not have that opportunity again once your product\/service is out the door. The rubber-chicken circuit will have moved on to some other trend-du-jour.<\/p>\n

The key is to exploit this opportunity strategically. Set ego aside. Think in terms of company priorities:<\/p>\n

1) Where is executive “abc”‘s time and attention best spent?<\/p>\n

2) What contacts can give us the best product feedback for the least resource cost?<\/p>\n

3) How, where and when do we want to start our market development campaign in preparation for product roll-out?<\/p>\n

4) What events can get us the most brand visibility for the least resource cost?<\/p>\n

If you think strategically about the opportunities the spotlight offers you will be less likely to be suck into the star-struck trap of the rubber-chicken circuit.<\/p>\n","protected":false},"excerpt":{"rendered":"

On his blog “The Post Money Value“, Rick Segal has some excellent advice for early-stage entreprenuers that find themselves in the spot-light of The Rubber Chicken Circuit. Few startups have the people resources to be able to afford to galavant … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,9],"tags":[],"class_list":["post-11","post","type-post","status-publish","format-standard","hentry","category-business-planning","category-product-management","category-strategy"],"_links":{"self":[{"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/posts\/11","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/comments?post=11"}],"version-history":[{"count":0,"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/posts\/11\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/media?parent=11"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/categories?post=11"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bd.handspicker.net\/blog\/wp-json\/wp\/v2\/tags?post=11"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}