One of the most common mistakes across businesses is focusing too much on the product and not enough on the business model and marketing
With hundreds of brands entering the metaverse and startups building platforms, it is getting difficult to stand out 👽 from the crowd it feels like you’re having the “Multiverse” syndrome (same superhero, different person) 🕷️🕸️.
One of the most common mistakes is focusing too much on the product and not enough on the business model and marketing. It’s the same as a chef🧑🍳 creating a delicious dish but neglecting to attract and retain customers and failing to keep the lights on. You’re in business to add value to your customers and generate revenue.📈
👉 When creating the next metaverse game-changer, the first thing you need to do is understand what you’re going to deliver and to whom:
1. What are you going to deliver? What will this world-changing metaverse platform look like if I bring it to market?
2. Who is going to experience your platform?
3. What is the value and worth of what you’re offering? Pass on the concept of a First-Tweet NFT, because Jack Dorsey’s $48 million First-Tweet NFT has lost 99 percent of its value.🙀
4. How will you ensure that users fall in love with your product rather than being like Pepé Le Pew 🦨, who is always on the lookout for love?
5. Being your own biggest fan is great, but how will you attract and retain more users?
👉 When focusing on your business model, you need to understand how it works and how you can make it work:
1. Find a unique market segment among the many existing alternatives – We don’t want a repeat of Spiderman(s) in the multiverse.
2. Identify a problem you solve for your customers, your price, and your lead time.
3. Understand your customer’s behavior, not what you believe they are doing.
4. Use the right technology stack to help your business scale, not because it’s a trending TikTok topic.
5. As Sherlock Holmes 🔍 says, “What’s the point of being clever if you can’t prove it?” Create a unique value proposition that is difficult for others to imitate. 👍
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