1. Adjust Your Focus! Most startups think buyers will be interested in their customers, revenue, and…
2. Identify Key Capabilities
What are the 3 or 4 functions that your product or team performs particularly well?
Valuable capabilities can be market-facing or internal, broad or narrow.
The test for notable capabilities are:
- Useful to a user. Having a “great company culture” is valuable, but not to a user.
- Have a direct path to financial impact, i.e. revenue potential or cost savings.
- Specific and differentiating. Being skilled at front end development, for example, is not differentiating enough since good front end development is available in thousands of places.
AN EXAMPLE
Say you are a company that offers sentiment analysis from inbound email. Your capabilities might be:
• Identifying customers that are close to churning
• Mapping sentiment to customer actions
• Deep integrations with all major email services
Notice that these range from broad market-facing features to internal know-how.
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