Week 3 - MKTG 6101 - Ascend Your Start-Up Chapter 3

Chapter 3 of Ascend Your Start-Up poses decisions 8 and 9: what product category are you really in? and who will be by your side, and who will leave? 

When moving your product to market, you must determine what product category your product will fit into. This step is almost as important as determining the minimal viable product (MVP). Founders will need to ask themselves: Will your product be competitive in the market? What sets your product apart from others in the market? Yu wrote “… you need to understand the market, customer segmentation, competitive landscape, distribution channels, market trends, and where your solution fits in” (2021, p. 70). 

When moving your product to market, it is also important to have a supportive team to back you. Learning to surround yourself with people who are experienced and will guide you in the right direction when challenges arise. There are four different types of leaders that should be leveraged to formulate a viable team: thought leader, challenger, collaborator, and operator. 

- Thought Leader: This is someone who is innovative and thinks of an idea that is unique and does not already exist. 

- Challenger: This is someone who challenges the value the product brings. 

- Collaborator:  This is someone who gathers people from across the organization. 

- Operator: This is someone who executes projects and receives predicted results. 

References 

Yu, H. (2021). Ascend Your Start-Up: Conquer the 5 Disconnects to Accelerate Growth.