Develop short‐term, medium‐term, and long‐term strategies and plans to generate revenue for your product.
Designing at least a first‐draft plan for an effective, efficient, scalable, and adjustable revenue engine is your next key decision.
Why This Step, and Why Now?
In the last step, you came up with an educated estimate of what the Lifetime Value (LTV) could be for your new venture. That gives you important guidance on the type of go‐to‐market strategies available to you. Once you have developed your first‐draft go‐to‐market plan, you will then have the critical input you need to estimate the Cost of Customer Acquisition (CoCA) in Step 19 and complete the all‐important unit economics test.
Let's Get Started
Since I originally published this book, there have been significant changes in entrepreneurial sales. As such, the title of this step is updated from previous editions to be more specific based on rapidly advancing technology, and techniques in this area. You will also notice a subtle but important tone change in now calling this “revenue,” which is more expansive than “sales.” This is an important mindset change.
To acquire customers for your product, you will need a sales and marketing strategy. ...
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