🚀 Why Do So Many Startups Fail? Some Do’s and Don’ts to Get Things Right
90% of startups fail. (Embroker)
So how can you make sure you’re among the top 10% that make it past year 5?
One proven way to succeed is through product differentiation. This essentially boils down to defining your unique value proposition and making it crystal clear why your customers should choose your product over competitors'.
Here are some ways to differentiate:
✅ More features
✅ Proprietary technology
✅ Better or faster performance
✅ Customer service
Here are a few pitfalls to avoid:
🔻 Quality should be a given, so don’t make it the central theme of your messaging
🔻 Don’t make empty promises
🔻 Don’t differentiate on price (it’s a race to the bottom)
🔻 Don’t be hyper-niche
For a real-life story that illustrates the importance of differentiation, swipe through the file below. 👇
What’s the best advice you’ve received for differentiating your product? Please share in the comments. 🗯️