In the built-to-flip world, many unseasoned founders focus on product development exclusively and ignore other integral parts of the venture. Whenever I ask new entrepreneurs about their marketing or sales strategy, most would answer, “We’re not going to focus on brand / marketing / sales channels until we’re done building our beta / our first model.” This, unfortunately, is a myopic view of what it takes to create and deliver a satisfactory product / service / customer experience.
I recently read a very good article about process and product. It’s called, “22 Hours in Balthazar.” The writer Willy Staley spent essentially a day at the famed New York bistro; he observed and documented the process of planning, organizing, creating, and serving roughly 1,500 meals each day to New Yorkers and tourists.
The production team comprises various sub-groups: 1) delivery and storage staff; 2) food prep staff; 3) head chef, sous-chef, and day-time and night-time cooks; 4) support staff of runners, busboys and waiters, and 5) managers. Each sub-group adheres to standards and processes that enable an integrated and seamless operation, day after day.
This is a good case study for founders who focus solely on product development and don’t realize other important components of their venture. It’s also a good perspective for founders who are great with ideas, but weak with processes and implementation. Here is the link to the article, “22 Hours in Balthazar.”
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