One of the biggest, if not THE biggest, challenge of a startup is finding that first customer. It is easy to find folks that claim an “interest” in a new offering but it is quite another to find somebody that will actually put their money where their mouth is. The first customer validates your business in ways that your friends, family and mom never can. They give you revenue, a reference customer, and a raison d’etre. Your first customer transforms your business idea into reality. But finding that first customer – that person willing to take a risk on you – is a non-trivial exercise.
So what does an early adopter look like? Well, the first thing to understand is that they likely don’t look like your ideal long-term customer. We all have visions of selling our product to the “big boys” in whatever market we happen to be in, but your first customer is most likely not one of them. You must remember that being the first customer of a new offering is a risky proposition on a whole bunch of fronts, and the “big boys” have the most to lose. Furthermore, most large firms delegate buying to mid-managers who generally don’t get rewarded for taking bets. As a result, the “big boys” are usually followers – waiting it out until at least a few others have tested and validated the value of a new offering. In contrast, early-adopter are likely smaller innovative firms (likely a lot like yourself) that need to do things differently to differentiate themselves from the big boys. And herein lies the key: find a customer who has no choice other than what your offering, and you will have found your early adopter. Don’t worry if they are not the biggest client in the world or are annoying to deal with in some way. Remember, the early-adopter is not your destination but rather a door to larger markets and clients. Be thankful for what they are: courageous and desperate enough to buy a product from somebody with no track record.
Ty J. Shattuck
The Idea Whisperer
@tyshattuck
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