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Will the Dog Eat the Dog Food? The Million Dollar Question Entrepreneurs Need to Ask

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Will the Dog Eat the Dog Food? The Million Dollar Question Entrepreneurs Need to Ask

As USA Today’sStrategies: Rhonda Abrams” noted in a recent column, May 2013 would’ve marked the 90th birthday of legendary Silicon Valley entrepreneur Eugene Kleiner, who was an early investor in more than 300 technology firms (some of which included Amazon, AOL and Google).

We agree with writer Rhonda Abrams that “Kleiner’s Laws” and the wisdom he brings to bear are timeless. Each of Kleiner’s six laws mentioned is vitally relevant. One in particular resonates with me and that is “Will the dog eat the dog food?” The customer buying cycle starts first with restricting expenditures to solutions that solve real problems. Appealing to this need is the starting point for winning a customer’s consideration.

With today’s savvy customers it’s not enough to be perceived as innovative or advanced. You must be perceived as being needed and that requires intimately understanding the customer. Once you understand the customer and the breadth and importance of the problem you are solving, you can then begin the process of building a compelling economic justification case.

Too many companies create a product looking for a solution. I can assure you that this would be a company that Mr. Kleiner would never invest in.

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