Many founders build their technology and only then try to figure out what industry it’s best applied to. In the case of Davit, they had 24 different use cases they were trying to present to the market, which caused them to struggle with their business model.
Today’s bonus episode follows the 2 part interview with Davit Baghdasaryan, Co-Founder & CEO of Krisp - a software tool that maximizes the productivity and impact of every conversation by eliminating noise distractions,increasing the fidelity of voice communication, and transcribing and synthesizing the most relevant details and analytics from every voice interaction.
Many founders build their technology and only then try to figure out what industry it’s best applied to. In the case of Davit, they had 24 different use cases they were trying to present to the market, which caused them to struggle with their business model.
They had to learn how to say “no” to alternative segments and use cases and pursue becoming market leaders in their niche. Diluting your positioning and strategy might work once you’re an established brand with tons of resources to burn, but as a startup it’s a losing strategy that will often steer you away from a winning strategy.
In today's market people expect their products to be highly personalized and catered to their problems. Even if you have the best technology in the world, by sacrificing your positioning and refusing to niche down, competitors who get it right will run laps around you because their product is an exact fit for solving an individual problem.
Tune into the full episode to learn how to approach GTM as a technical founder!
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