The Four Steps to the Epiphany: Successful Strategies for Products that Win
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The bestselling classic that launched 10,000 startups and new corporate ventures - The Four Steps to the Epiphany is one of the most influential and practical business books of all time.
characteristics of new-market customers—or worse, recognizing them but Chapter 6: Company Building | 171 refusing to risk changing the sales model that has produced your earlyvangelist sales in order to go after the volume customers. That can be a first-order tragedy for your investors and company. To reach mainstream customers in a new market, your company must devise selling and marketing strategies that differ from those used in an existing or resegmented market. For example, rather than
is spending large sums on creating demand for the sales organization. It is also spending "credibility capital" on positioning and explaining the company to the press, analysts, and customers. By the time of first customer ship, if the company does not understand its market and customers, the consequences unfold in a startup ritual, almost like a Japanese Noh play. What happens when you fully staff sales and marketing and you haven't nailed who your customers are and why they should buy your
product? Sales starts missing its numbers. The board gets concerned. The VP of Sales comes to a board meeting, still optimistic, and provides a set of reasonable explanations. The board raises a collective eyebrow. The VP goes back to the field and exhorts the troops to work harder. Meanwhile, the salespeople start inventing and testing their own alternatives—different departments to call on, different versions of the presentations. Instead of a methodology of learning and discovering, the
competition is fierce, with the goal of uniquely differentiating the product into a space where no one currently resides, but where you hope lots of customers will follow. At times Sales may be acting like it is in an existing marketing while Marketing is planning newmarket tactics. This confusion is a normal par for the course, but it requires close and frequent synchronization of missions and tactics. The sales department in a resegmented market follows two tracks: selling to customers in an
old and go on a quest of the seed idea, a germinal idea that will have the potential of bringing forth that new thing. — Joseph Campbell, Hero with a Thousand Faces Joseph Campbell popularized the notion of an archetypal journey that recurs in the mythologies and religions of cultures around the world. From Moses and the burning bush to Luke Skywalker meeting Obi wan Kenobi, the journey always begins with a hero who hears a calling to a quest. At the outset of the voyage, the path is unclear,