Expert insights
Here are some common challenges when developing a Go-to-Market System and strategies that have helped Stanford Embark members overcome them.
“I don't see the value in this step.”
Avoid the temptation to skim or skip over this important strategy piece! It’s a common and costly mistake for entrepreneurs to treat the Go-to-Market strategy as an afterthought. It is a critical part of your business plan, and it deserves as much energy and creativity as product development. Some of the best opportunities for building a disruptive business involve bringing innovation to the Go-to-Market system.
"Can I take my product/service to market myself, or do I need help?"
To answer this question ask yourself, "What is the fundamental nature of the problem I am solving?" Do you have a new product for which channels of distribution already exist (e.g., a new kind of pancake mix, that can be sold either on the shelves of grocery stores or online)? Or does your innovation seek to change the way in which the solution is delivered to customers (e.g., a new way of getting fresh cut flowers direct to the consumer by shipping direct from growers)? If the former, your challenge will be providing the channel with sufficient economic incentive to overcome the risks and costs of taking on a new product. If the latter, you will almost certainly need to recruit new Go-to-Market participants to put in place your new system.
The Danger Of jumping ahead
Vandana Jain, Co-Founder and Director of Emerging Markets, discusses how jumping ahead without a well planned strategy can introduce numerous challenges.
We did not have to do sales
When Channel Partners Say No
