If you build a product for a problem that only one customer has, don't just abandon it. Offer to turn it into a high-priced, bespoke solution for that single customer. This salvages the work and creates a profitable revenue stream, avoiding a total loss.
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When pivoting from a product with existing revenue, avoid the binary choice of killing it or splitting focus. Blue Jay successfully transitioned by putting their V1 product into "maintenance mode"—servicing existing customers but halting all new feature development—and committing the entire team to building the V2 for a defined six-month period.
Co-developing a product with just one enterprise client (N=1) is a trap. It leads to a "Frankenstein" solution tailored to their unique problems, making it nearly impossible to scale and sell to a broader market without significant rework.
A perceived product flaw can be a primary value proposition for a different type of customer. For example, a diffuse global audience, useless to local venues, becomes a powerful asset for organizations aiming for international reach, unlocking a new market.
When fundamental market changes make your business model obsolete, incremental changes aren't enough. You must consider how your underlying talent and expertise can be repackaged into a completely different business, like turning a tech platform into a consulting service.
When a startup finally uncovers true customer demand, their existing product, built on assumptions, is often the wrong shape. The most common pattern is for these startups to burn down their initial codebase and rebuild from scratch to perfectly fit the newly discovered demand.
Instead of pitching a future product, identify an enterprise champion's urgent, blocked project. Deliver the solution manually as a service first (e.g., a PDF report). This validates demand, generates revenue, and is a common path in enterprise software.
Avoid the trap of building features for a single customer, which grinds products to a halt. When a high-stakes customer makes a specific request, the goal is to reframe and build it in a way that benefits the entire customer base, turning a one-off demand into a strategic win-win.
When you build a tool to solve your own problem, the worst-case scenario is that you have a custom solution that improves your life or work. This makes every project a success on some level, reframing the concept of failure and encouraging action.
Validate market demand by securing payment from customers before investing significant resources in building anything. This applies to software, hardware, and services, completely eliminating the risk of creating something nobody wants to buy.
Many founders fail not from a lack of market opportunity, but from trying to serve too many customer types with too many offerings. This creates overwhelming complexity in marketing, sales, and product. Picking a narrow niche simplifies operations and creates a clearer path to traction and profitability.