That means deferring the following: buying office furniture, finalising legal documents, printing visiting cards and upgrading to latest hardware. One important point that Michael makes is that anything not directly affecting sales should be completely deferred during stage 1, because you don’t have the money to spend. Acquiring more customers will also ensure that your company’s lifeline is ensured: cashflow. Stage 1’s main goal is to acquire as many customers as possible at as low a cost per customer in the hope that some of them will buy from you on a repeated basis. You should test different messages on different media of advertising and hang onto the ones that work the best. You should become an expert at copy writing, advertising your product’s USP, direct marketing, closing sales and other skills related to marketing and sales.
Instead, your company should be heavily focus on selling one product really well. Only a fraction of your focus should be on product development. The product should have at least one thing which is different from whatever is in the market, even if it means an imitation product at a price cheaper than that of the competition. You have to make it reasonably competent. And remember, follow the Ready, fire, aim process. In stage 1, your company should focus on selling one - yes, exactly ONE - product.
The sections of the book focus on what to do and where you should focus during those five stages. In the book, Michael breaks down the lifetime of a company into five stages. By launching before the product is perfect, we are letting the market decide how to improve it rather than falling into the trap of hubris, where we falsely believe that we fully know the market.
The title suggests that we should always start before we are fully ready to launch something and that we should never obsess to the point of perfection. Written by Michael Masterson, this book describes the process of building a company right from the startup phase to an enterprise that earns millions of dollars. It is a deliberate word play on the common phrase Ready, aim, fire. Book title: Ready, fire, aim Author: Michael Masterson (aka Mark Ford) ISBN-10: 0470182024 ISBN-13: 978-0470182024 Buy here What this book is about
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