DailyPost 869
HOW TO COMMERCIALIZE?
While technology and business ideas keep stumbling with unfailing regularity, what really surprises the world is the incapability of the very same persons to commercialise it. The most common food product, the sandwich bread took 15 years to get commercialised. The standard business schools management tricks gets ripped apart as it hits the harsh world of commercial success. What is it all about? The product, the ability to see or create a desired want in the minds and hearts of the customer. In short, and it’s an formula undeciphered, every product and enterprise has to find it’s own way through want and desires of people.
If we take out advertising and money spend behind it, which is a more of rigmarole, in reality it makes very little impact. Then making the balloon look full on the support system of variety of systems for funding. It not unknown that a company held high in this manner falls flat when the funding oxygen is pulled out. The whole concept of Peter Theil of calculating the future profits of the company in anticipation and then work out the present valuation of the company does not work. The hype of that concept has also waned away. The start up mass hoard entrepreneurs are out to create this world.
Does the stark reality of commercialising hit hard, while the product is being thought of. Or the concept is we will cross the bridge as we reach. By that time it is already too late. There can be product customer disconnect. Steve Jobs always thought that he would give a product to the customer he can’t refuse. But how many have that rigour and precision. A hidden flaw which would never come to light could also drive him mad. There was nothing small or big in a product / project, every detail needed to be met with same amount of precision and passion.
Earning a fast buck is the challenging mindset of our times. It not the passion for the product and a sustainable transformation, driven by it. The gestation period of commercialisation is something which does not get a serious thought, the most difficult phase. Advertisement is the panacea. The maturity of business is the way you go behind the customer and make him feel the real value of the product. It is sheer hard work to find out the glue, that sticks. This is the search all are in for.
COMMERCIALISING THE PRODUCT IS THE FIRST QUESTION AN ENTREPRENEUR HAS TO ANSWER.
Sanjay Sahay