The biggest trap in product building? Listening to your customers.
When big-name contractors asked @DroneDeploy to build a drywall + framing tracking tool, they said yes.
The product worked. Customers used it. The demand was real.
But it failed. Why?
Because it pulled them away from their core customer.
@_mattdaly calls it the expansion trap:
‣ Mistaking customer requests for market validation
‣ Confusing product-market fit in one segment with success in another
‣ Spreading resources too thin, too early
This week's Bricks & Bytes Bulletin breaks down the 80/20 Rule for Product Expansion, a framework every AEC tech founder should know:
‣ Why you should cap new experiments at 20% of R&D
‣ The tests that prove if a new product is truly repeatable
‣ The 3 red flags that tell you when not to build your second product
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@balajis Much respect and admiration for what you’ve accomplished @balajis. Not sure about this take.
Are you basing your business, or anything, in China? Or is it just the imaginary global businessmen who are subjecting themselves to that?
Thanks to everyone who attended our recent Culture Academy at #ProcoreHQ. Enjoyed chatting about a subject that I’ve always been passionate about—how a healthy #companyculture can drive business success. Thanks also to @structionsite CEO @_mattdaly for sharing these great pics.
@jasonlk 4th anniversary for us in Sept, feeling this for sure. The right exec hires amplify everything that’s working, and stick a magnifying glass on everything that is not (in a good way)
Our industry will never be the same, this really is the moment for construction tech to lift up our project teams and create digital workflows that don’t just keep builders afloat, but allow them to thrive. #InThisTogether#Construction#Technology#ArtificialIntelligence
Registration is now open!
Join us 7/29 for another Construction Progress Coalition #VirtualRoundtable breakouts. Our seasoned moderators welcome a fresh set of perspectives to debate topics from #EmotionalIntelligence & #Biophilia…https://t.co/0l2cq4ewgp https://t.co/it7jkExFiW
Nothing is more rewarding than hearing customers talk about how your product helped them through a difficult time. Our generation has never seen a challenge like this, but our customers are rising to the occasion and it's amazing to watch. Thanks for shar…https://t.co/DcWkhkCSii
It's one of our favorite times of the year! 😄 The #2020ConTechSurvey is open, now it just needs construction industry pros, like you, to complete it! The data from the survey is used to create the Annual #ConTech Report. Take the survey here: https://t.co/hy2LfF1hJp
When you back at your life the moments you will cherish more than anything will be the moments where you were just you. No regard for anyone else and no regrets, just you. When you see this captured in a photo you’ll tear up a bit.
OK folks, registration is now open for the #AEC#Hackathon Online https://t.co/rwbPAumIZa. Things are still coming together, so we will be adding more information on sponsors, speakers, workshops, online social activities, and other to the website in the next couple weeks. #