This is a really solid reply - I would emphasize “know your buyer.”
We thought we had a solution to a problem. We were told from the end users we had a solution to the problem. We thought we knew the value to those people as far as pricing for the product. But the actual buyer didn’t at all value our product the way the end user did, especially when factoring switching costs etc and it was crippling.
We thought we had a solution to a problem. We were told from the end users we had a solution to the problem. We thought we knew the value to those people as far as pricing for the product. But the actual buyer didn’t at all value our product the way the end user did, especially when factoring switching costs etc and it was crippling.