Startup Sales: What Value does your Product or Product feature bring to the market? Is it Medicine, Vitamin or Laughing Gas

Is it medicine, vitamin, or laughing gas? How do you convey the value of a feature or product concept to your team or get them to discuss it based on market value? One way is labeling.
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As an entrepreneur, there always is another shiny object to chase. With a talented development team at your disposal, you can very easily chase any of these flashy baubles. The secret is for you and your team to stay focused on those few features or overall solution that your target customer needs. If you discuss your product features or product as to whether it is a medicine, a vitamin, or laughing gas, it helps your team focus on the value the market will place on it.

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Medicine: A feature or set of features or product itself with this label should solve a clear and immediate need. The customer takes the medication, uses the product/feature, and bang, ailment cured. Or they live to see another day.

Vitamin: A feature or product with this label does not directly address an immediate need. Like most vitamins, the impact is longer-term and not all too clear. In other words, it is a nice-to-have but not necessary solution in the short-term.

Laughing Gas: A feature or product with this label is an exciting, way-out idea. It may have a direct market impact or not, but no one knows. It’s a fun to have.
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All products have a mixture of medicines, vitamins, and laughing gas. However, in version 1.0 of any new product, make sure your offering contains mostly medicines. It makes it easier for your prospects to recognize the ailments it cures and easier for your startup sales team to sell your new product.

​Written by Tim Bates

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