Start-up Market Entry

Am I a Hare or a Snail?

Over the past few weeks, I have been working with John Beer to prepare for the commercial launch of Pingar. We have faced the classic start-up dilemma: Timing Market Entry.

Most start-ups natural instinct is to go to market as fast as possible once a commercial product, solution or service can be delivered. It is hard to resist. So much time, money and sweat has normally been expended building the output that the 'Goto' and 'First Mover Advantage' instincts kick in. And then the term 'Cash Burn' takes over. Market share grab is full on.

Perhaps unusually for a start-up, John and I have been around for a long-time with at least 50 years combined experience of the ICT space. I first experienced 'New Media' in 1978 when I left University. Then it was commercial radio! Since then I have seen multiple reiterations of the 'New Media / New Business' model.

And so have the snails.

Market entry is one milestone. Survival and expansion are the second and third. At Pingar, we have resisted the instinct to launch 'yesterday'. We have learnt from the snails.

Away from the platform development, building strong commercial partnerships has been a key focus for us. This has meant negotiating with global players who do not have the agility of a start-up. They can provide different and more compelling market entry opportunities however when the 'Goto' button is pressed.

Have we lost out on short term revenue and market share by taking this approach? Probably. Resisting the instinct to 'bestow our endeavours on a grateful market', has been difficult, particularly since a start-up / established corporate partner relationship is not immediately natural. The drivers behind such a partnership need working out to establish a 'win-win' formula that satisfies both parties roadmaps.

To be honest, we have never really feared the hares. It was always going to be the snails that threatened Milestones 2 @ 3. We think we have got it right. Pingar's launch will deliver its verdict on that assumption.