Ensuring a Product's Debut
An 18-person privately held, angel-backed start-up company is fast approaching the time when it will announce its very first software product and emerge from its stealth mode. Youthful management recognizes its bandwidth limitations and the importance of flawlessly executing its debut product rollout.
At the recommendation of the company's advisory board, a seasoned business consultant is retained to evaluate and enhance the company's early channel strategy & tactics.
The consultant immerses himself in an intensive study of background materials and interviews of key company personnel, coming fully up to speed in a few days. The consultant then rapidly reviews, critiques and updates the company's Rollout Schedule, PowerPoint Pitches, third-party Testimonials, News Releases, Analyst Invitations, and near-term Trade Show commitments.
Simultaneously the consultant recommends embarking on several additional imperatives that must accompany the product rollout, to ensure that the company can grow rapidly as its product catches the market's imagination. These imperatives include but are not limited to: (a) launching the sales/marketing function; (b) initiating strategic relationships with key corporate partners; and (c) immediately starting the arduous process of identifying potential investors for its Series B funding requirements.
Moreover, the consultant initiates a search for candidates for VP of Sales & Marketing. Eight (8) highly qualified candidates are presented within three weeks, all from the consultant's extensive circle of colleagues and associates.
In that same time period, the consultant identifies a dozen strategic partner candidates, conducts opening one-on-one discussions with several and arranges initial meetings with management.
The consultant senses from experience that the company will need additional financial resources far sooner than management has anticipated. Otherwise, the company runs the risk of significantly underfunding the rollout process, threatening its impact and ultimate success. The consultant knows that in today's highly competitive high-tech market, the company will get only one chance at its debut and it must be done right. He also knows how increasingly difficult raising venture funding had become. Accordingly, the consultant prepares an extensive list of Venture Capital firms located on both the East and West Coasts. The consultant has had previous interactions with key partners at each of these VC firms.
The entirety of the above consulting activity takes four elapsed weeks from the start of the consulting project. The company's rollout was successful and steady growth has ensued since.
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