About the lecture:

 Breaking Boundaries: Product Innovation and Market Understanding

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:

  1. Market Analysis:
    • Customers needed a seamless integration with existing management systems.
    • Established software providers resisted collaboration, leading us to create a comprehensive management system.
  2. 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.
  3. 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.

 

to-be published