In my presentation, I share the journey of transitioning from a "never went to production" product to an innovative startup solution that transformed the restaurant industry. Our breakthrough was an iPad-based mobile POS system for waiters, initially receiving mixed feedback. This led to key insights:
- Market Analysis:
- Customers needed a seamless integration with existing management systems.
- Established software providers resisted collaboration, leading us to create a comprehensive management system.
- Understanding the Customers:
- Most potential clients were independent restaurants and small businesses.
- These customers required user-friendly technology that supports various restaurant operations.
- We developed a one-stop-shop solution tailored to their needs.
- Empowering the Customers:
- We provided White Label solutions, allowing customers to adapt technology to their brand, thus reaching new audiences and strengthening their brand identity.
- This approach saved marketing costs and enhanced operational efficiency.
Conclusion:
Key questions explored:
- Are you an addon or a full product?
- How do you handle competitor resistance?
- How do you identify and cater to your Ideal Customer Profile (ICP)?
This presentation highlights the importance of market understanding and innovative thinking in creating impactful products while taking risks.