Startup success lies in how well you BWIM.
That’s what this Fast Company writer calls the “Beware the What If Monster.” Although you need to think about possible scenarios, do not over-complicate your offering or audience. The author had created a dating app in 2012 called “Find Your Lobster” and his “Monster” turned the launch into a disaster. Tinder later did it right and succeeded.
The lesson learned here is to not waste time and money thinking of every possible situation and target market when you first launch a business or a product.
Follow these two ‘hindsight 20-20’ tips for a BWIM-free launch, according to the article:
- Identify your very first customer: your product should be laser focused on them.
- Define what ‘great’ looks like to these customers: work your business back from that end state and stick to that plan until new information, results, or research tells you otherwise.
The Lobster died a sad death…make sure your business doesn’t meet a similar fate at the Monster’s hands.