Page 68 - The Bootstrapper Bible

ChangeThis While a Post-it note is a great product, the company had a serious problem. There was no one in each prospect company assigned to purchase such an item, and the cost of the sale was very, very high compared to the anticipated profit. What will it take to get people to switch from what they already use to what I sell? The solution was elegant. The chairman of 3M had his secretary send a case of Post-it notes to the secretaries of the other Fortune 500 chairmen. And they started using them. Suddenly, people from the other companies were running around saying, “Hey, where can I get some of these?” And when they ran out, they had to reorder. This was a risky bootstrap solution from a big company. If it hadnʼt worked, 3M would have folded the product. Itʼs so much easier to sell something that people are already buying. Which leads to the second question: “What will it take to get people to switch from what they already use to what I sell?” Believe it or not, the answer is almost always not money. Why? Because a trusted supplier will lower her rates enough to make your offer less interesting. Why? Because switching to a low cost supplier who does a bad job can cost the purchaser his or her job. Why? Because most products are purchased because of what they do, not what they cost. Usually, you need to make a product that is significantly easier or more effective. Easier to buy. Easier to use. Easier to teach other people how to use. More effective at solving the problem. | iss. 6.01 | i | U | X | + | h 68/103 f