Holidays are a great time for reflection and honest analysis of how things are going. Here is a thought for today. Are you creating fireworks that blow your customers away or sparklers which are nice diversions until the main event?  Take a moment and ponder these two questions:

• Are you a must have technology? This is a fundamental question that determines the potential for your business. An easy way to determine whether your technology is mission critical is if prospects you talk to are already in the process of developing and implementing their own solutions. Far from being a bad sign, companies developing their own technology to solve a problem is a key indicator of the importance of that technology.
• Are you a feature or a solution? Even if you are a must have technology, does your customer need to add other products to yours to fully address their problem?

The answers to these two questions can determine the difference between large, long term successful companies, modest successes and failures. Success begins with being a must have technology. If your customer can get by without your technology or something closely related, your future isn’t too bright. You may convince a few companies where you have personal relationships to take a chance on your technology, but prospects for sustainable growth are dim. As I said in my last post, solving a real customer pain is the first most important objective for startup marketing.

If you are a must have technology, then the difference between being a feature and a solution makes a big difference in your sales and business development strategies. If you are a must have feature in an overall solution, perhaps an OEM and channel sales strategy is your best option. Acquisition, not IPO, is typically the best route for your company and can often lead to a big success for all involved.

Must have solutions are the rarest of technology offerings and provide the opportunity to examine long term independence and potentially an IPO. Provide a complete technology that solves a critical problem and you will create fireworks for your customers, your investors, and your employees.