In this talk from the Los Angeles Founder Institute, Thom Kozik gives critical advice on how to best go about researching where your business fits in the startup market. He advises founders on several elements to consider, yet reminds them that Startup Research is an ongoing project and there is always new information to be learned.
Thom is the CEO of Context Digital Media and has 25+ years of experience in the Internet and Software industries, with particular focus on gaming. He is also a mentor for the upcoming Los Angeles Founder Institute, which is currently accepting applications. If you could use expert training, feedback, and support to launch a technology company, then apply today. The Early Application Deadline is Sunday, September 23rd.
Kozik stresses the importance of defining your product, knowing your market, planning an exit strategy, and establishing success milestones. These four components along with managing your distractions and understanding how your stakeholders impact your business, are imperative for navigating today's ever-changing high-tech climate. Thom sums it all up with saying the market is an ecosystem, not just a list of competitors. You have to know where your business falls in the mix of things and always be open to change. Afterall, technology is truly a 'here today, gone tomorrow' type of game, and if you're not thorough with your evaluations, you might just get left in the dust.
If you like the video below, follow Thom on twitter @ThomKozic