“… between 80 percent and 95 percent of new product introductions fail! “
Jack Gordon, CEO of AcuPOLL Research Inc..
Why Do So Many Products Fail?
Over 80 percent of new products fail! The #1 cause for this high failure rate is that companies and entrepreneurs jump to creating new products or services before they understand if anyone other than them thinks it’s a good idea and is willing to pay for it.
Three Critical Questions Investors Ask and You Must Answer!
To improve your chances of success in the market, you must answer three of the most common questions that investors ask:
- Who is your customer?
- Why will they buy your product?
- How are you going to make money?
These are the critical questions that all entrepreneurs must answer, but way too many develop their products before they know the answers to these questions, and ultimately fail.
How to Discover the Answers to These Three Critical Questions
In the “From Napkin to Revenue” workshop, you’ll learn a proven step-by-step process that helps you answer these three questions. You’ll learn how to discover needs that people are willing to pay to solve and how to translate that into a powerful Go-to-Market Strategy, significantly increasing your odds of transforming your entrepreneurial dream into a successful product or service.
What You Will Learn
During this six hour workshop, you, the Aspiring Entrepreneur, will learn how to:
- Discover and validate ideas that have the highest potential for success;
- Create products and services that customers want to buy;
- Define a profitable business model
- Define your Go-to-Market Strategy via the “Go-to-Market Canvas for Entrepreneurs™”;
- Create awareness and momentum in the market and acquire those valued first customers.
Throughout this highly interactive workshop, you’ll have opportunities to apply the principles to your own idea, begin to build your Go-to-Market Canvas, ask specific questions and interact with other aspiring entrepreneurs who bring a wealth of knowledge from their individual experiences.
Who Will Benefit?
This workshop will benefit any “Aspiring Entrepreneur” in any industry that wants to improve their opportunity for success as they pursue their entrepreneurial dream. This includes:
- Aspiring Entrepreneurs who think they have a great idea and want to know the right steps to successfully take their idea to market.
- Aspiring Entrepreneurs who thought they had a great idea, but were not able to achieve the success they were hoping for and are looking for ways to do it better next time.
- Aspiring Entrepreneurs who want to do something entrepreneurial, but are still looking for that right opportunity.
- Causes of New Product Failures
- Four Pillars of Successful Products
- Defining the Go-to-Market Canvas for Entrepreneurs™
- Introduction to the “From Napkin to Revenue” Market Validation Process
- How to Validate a High Potential Market Need
- How to Justify the Investment in Pursuing a New Market Opportunity
- How to Create the Right Solution for the Market Need
- How to Define Your Go-to-Market Strategy
- How to Acquire Those First Customers
What People Are Saying About “From Napkin to Revenue”
I highly recommend this workshop. As a product manager with a formal marketing education, I found Tom’s practical insights and organized perspective incredibly valuable. Whether you have formal business training or not, if you are looking to bring a new product to market, this workshop is absolutely essential. Tom brought his real world experience into the classroom, and made the often complex processes of product management easy to understand and intuitively so. In my years of formal education and many ongoing learning classes, I have seldom received as much value for my time as I did in Tom’s class. From Napkin to Revenue has my highest endorsement.
Ever had an idea that never got off the ground and watch someone be successful with it later? Or worse, an idea that took a lot of your time and money that failed? I’ve done both. Rather than pout and blame the market, I took this initial offering of this course. Not only was the course material helpful but the interaction of all the participants brought insights to what I had not done or been doing wrong. I’m currently using some of those ideas for introducing new product ideas to the company I am working for and have some ideas in the works completely outside my field. I already have better success and it is more fun because I now have a process so I can see and learn from my mistakes and push on to greater success. I recommend this workshop for those who want to turn their ideas into products. It will save you time, money and frustration.
Tom’s Market Validation Workshop and Coaching is extremely valuable. He consistently demonstrated a commanding expertise with a sensitive acumen on a wide range of business topics and his presentation was applicable to all projects. In addition, his style was welcoming and open, and I found that he enthusiastically gave his time responding to questions thoroughly. Tom has shown himself to be an invaluable mentor. I would recommend his services to anyone considering a new venture.
This is a ‘must’ for those folks who want to be thorough in their startup preparations. Tom’s insights are crucial for a successful launch and for future growth. Your time investment in this workshop will yield both a critical playbook and a connection to fellow entrepreneurs for support.
If you are considering launching a new service or product, attend this quick two night class first. My partners and I made the mistake of falling in love with our idea, spending tens of thousands of development dollars and countless hours only to find out that we were not on the right track. Tom’s course would have shown us how to judge the viability of our product in advance of that wasted investment. It’s definitely worth the low course price. Plus, you will meet other aspiring entrepreneurs while sharing valuable ideas and insights.
This workshop provides valuable knowledge in getting the product definition “right” based on unmet customer needs. From ideation through product launch, Tom provides practical advice based on real-world examples of how to minimize the risk of developing products that customers do not value. I highly recommend this workshop.
Tom has laid out the questions I needed to ask before starting my new business. This workshop was the extension of the RISE Entrepreneurs workshop he did earlier in the year. Worth attending and using in your business.
Very good workshop. Helps you on what you need to in a systematic way. Process that you can follow and you get the confidence to make the first step in right direction.