The marketing mistake that guarantees lost deals with big competitors #business #investing

Name: The marketing mistake that guarantees lost deals with big competitors #business #investing
Uploaded: 2023-12-04T15:00:31+00:00
Duration: 43 s
Channel: Jason M. Lemkin
Description: Jason M. Lemkin warns founders that winning every early deal is a red flag, not a sign of strength. New vendors win only because they solve problems…

4 Dec 2023 · 1 min

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Jason M. Lemkin warns founders that winning every early deal is a red flag, not a sign of strength. New vendors win only because they solve problems incumbents ignore. Once you compete with Shopify, Zendesk, HubSpot, MongoDB, or Datadog, losing deals means you need better features, marketing, and brand credibility.

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6th bit of— the 6th one is just a bit of hubris that I hear. It's a small flag, but it can scale over time, which is, oh, they're not a significant competitor. I mean, Shopify started with snowboard sales. I guess it was very good at that in the beginning. But, um, and so maybe in the very early days you really will win every deal because the prospects won't even bother with you unless this brand new vendor no one's heard of truly, truly solves a problem no one else solves. But After that, as you start to compete with Zendesk or, or HubSpot or Mongo or Datadog or, or whoever it is, you actually should start losing deals because of course you're feature poor. Of course you don't have everything that those leaders have. So when I hear that we win every deal, I just know it means you're not doing any marketing.