Develop Vs. Market: Case of Overdeveloped Products and Underdeveloped Promotions

What good is innovation if you can't market it? What good is marketing if you can't deliver it?

This happens all the time. Just last week I met a couple of great Startups who invested a range of $70,000 - $150,000 into developing their products but refrain from spending almost any money on PR, marketing and promotions. To me that’s absurd, it’s like constructing the world’s tallest building underwater, not telling anyone about it and expecting people to visit.

If you’re spending a ton of money to develop a product but not willing to put at least 25% on improving visibility and attractiveness to investors/the market, you have a major blind spot.

In addition as a personal brand manager, I advise Startup Founders all the time to invest at least $10,000 a year on Personal-PR. That's right, think of yourself as a brand and pay a publicist to get you on TV, and major trade publications. Investors invest in the people behind the Startups as well as their moral character and reputation.

Reputation is a major component when it comes to investor confidence. I just presented at TechCrunch Disrupt, aka the Oscars of the tech world - and the projects people made in 24 hours are already receiving offers from companies and investors - simply because they were at a super credible event -TechCrunch Disrupt - with some cool ideas.

Take the same cool ideas and put them in an unknown conference, the results would simply differ.

In all things in life, especially in business, energy and resources must be applied holistically and continuously to reinforce the primary purpose. The problem I'm seeing is a pick-and-choose strategy where developers are overdeveloping and under-promoting while marketers are over-promoting underdeveloped products. I'm also seeing each side favoring it's own department goals without looking at the problem holistically.

Entrepreneurs investing in one main component while deeming another major component unnecessary is a major mistake as it only delays growth and becomes a nasty blind spot preventing our desired outcomes. Seeing things through an integrated system while working cross-functionally allows us to evaluate and determine how each action affects the vulnerability of the entire system.

So when each tactic taken is evaluated, always contributing to the overall end-goal, not just the department's goal, this nurtures the health of the entire ecosystem which it return produces growth for the entire organization.

Remember, what good is innovation if you can't market it? What good is marketing if you can't deliver it?

Thank you very much for your reading this. I hope it gave you a little more insight into what’s required to succeed today and I hope you'll take the time to consider what 2020 Startups is offering you at our accelerator.