6 Keys To Translating Technology Into Business Value - Printable Version +- Sup Startup (https://supstartup.com) +-- Forum: Startup Forum (https://supstartup.com/forumdisplay.php?fid=3) +--- Forum: Web Talk (https://supstartup.com/forumdisplay.php?fid=8) +--- Thread: 6 Keys To Translating Technology Into Business Value (/showthread.php?tid=2847) |
6 Keys To Translating Technology Into Business Value - AnthonyKic - 09-10-2020 6 Keys To Translating Technology Into Business Value Young entrepreneurs often are so excited by new technology or their latest invention that they forget to translate it into a value proposition that their customers or potential investors can understand and relate to. They become frustrated with investors, senior executives, and even customers who don’t seem to “get it,” with the result that everyone loses. Senior business leaders, for example, are unlikely to relate when you pitch your latest web app, highlighting the mashup technology, which you derived from early online social networking applications. Mashup probably reminds senior leaders of a train wreck, and social networking is still seen by some business executives as a frivolous waste of time. It’s really your responsibility and to your advantage to translate your message into values and priorities that the intended receiver can readily relate to and understand. Here are some key value propositions that will resonate with every business leader I know:
I challenge every entrepreneur to see how many of these priorities they can integrate into their new technology solution elevator pitch. You may be able to turn a potential train wreck into a win-win decision for both you and the investor or customer. In any case, it pays to do your homework on the background and experience of the decision maker you face. Don’t assume their understanding of technology is commensurate with yours. Entrepreneurs need to remember that every investment decision, whether by professional investors or customer executives, is primarily a financial decision, not a technology decision, driven by limited funds. If you can translate your technology power into a solution satisfying key business goals, you will win the investors you need, as well as the customers you need to make your startup a success. Technology is the means, not the end. Martin Zwilling https://blog.startupprofessionals.com/2020/08/6-keys-to-translating-technology-into.html |