Many startups dream of conquering their market segment through a litany of products. More often than not, this distracts them from executing on one product excellently.
Customer engagement is initially driven by a singular, loved product
- It is better for a product to be loved by a small number of people than to be sort of liked by many
- If a product is loved, customers will organically market it which is not only free but also much more effective
With limited resources, startups often can only focus on one product at a time
- Startups have limited resources and thus should only focus on a single product initially to avoid being spread too thin
- If success is achieved with a single product, those profits can be used to fund future development, allowing for independence from VC funding