Launch

Hello everyone – it’s probably a bit like a voice from the grave, since I said I was going to retire Corporate Escapologist (– at least until I make Familiarize a success, then I’ll write the book).

But I wanted to update you given you were here through my journey of leaving bp, running experiments to test what I should do next, getting funding and then through the slow build of Familiarize.

And now, I’ve “soft launched” the product!

Go-to-market

At bp, launch of anything would have been a big deal.  Maybe some press, a party, perhaps a new ‘operations’ team to take over from the project team.  The launch of Familiarize was really just a tiny code change and some posts on LinkedIn and Slack.

And then a whole lot of tumbleweed.

That’s not really true, I’ve had lots of really great encouragement, comments and forwarding.  The fact people share your post with their network is great endorsement and hopefully accelerates us through the seven touchpoints before any one buys.

I’ve been trying some growth hacking with google adwords.  Starting at a totally unsustainable £4.86 for a click!  Through a nice collaboration with google, we’ve optimised to around £0.46 a click, which is still unaffordable unless we get conversions.  It feels like gambling, which doesn’t feel a very viable go-to-market strategy, but let’s see.

In fact I’ve already ‘pivoted’ to “product-led growth”, based on a book I read a few months ago.  The premise is users want to try before they buy.   Although it was simpler to put the paywall before being allowed to enter Familiarize, it’s quite possibly why we’re not converting sales.  So, because we’re ‘agile man’, Yunus and I decided to move the paywall further into the product so users can now experience some of what it offers – before they decide to subscribe.

Good things

Speaking of Yunus, he’s the main reason Familiarize is here.  He has worked tirelessly to build the product – and not just the MVP he was recruited for, but a really robust foundation on which the product can evolve.  It’s been the best thing so far about building Familiarize, working with someone so committed (and even addicted) to problem-solving and self-improvement.  To think we found each other on LinkedIn.

I have my final review with Innovate UK this week, having had what I thought was the final review three weeks ago.  The admin has been a pain, but again, as with Yunus, I would not be where I am without their funding.  And the support that’s gone alongside.  My EDGE Advisor has introduced me to customers, set me up with accelerators, advised me on intellectual property, challenged me to pitch to investors and then supported me in my preparation.  And I am really hoping she’s going to help me find some follow-on funding from Innovate UK when the government’s new year starts in April.

Progress

As with everything on this journey, it’s full of ups and downs.  And it’s far easier to focus on the downs, rather than look at what you’ve achieved.  So when I posted about launching the product on LinkedIn, I was surprised at the reaction “congratulations” I received from so many people…because until then I don’t think I’d seen the act of building something as a success.

And I think this is a problem for founders.  We bank everything that goes well quickly and can easily wallow in the stuff that does not.

There’s a parallel here with customer discovery that I want to explore over the coming months.  And it relates to “progress”.

I think one of the reasons founders don’t stick with customer discovery and validation too long is because they don’t recognise the progress they’re making.  The fact they learnt that ten customers liked this and didn’t like that, shapes their product development or how they pitch, but it’s quickly banked and moved on from.

So I’m going to make this a very deliberate part of Familiarize – encouraging founders to recognise how far they’ve come, what they’ve learnt and help them see their gaps in this context.  Not only will it help them appreciate their (hopefully accelerated) journey, but it might help them appreciate Familiarize’s role in this too, which could help build loyalty and advocacy.

The request

Talking of which, I would be really grateful if you can share Familiarize with your networks, with people you know who are struggling to understand their customer, who aren’t growing as they expect.  90% startups don’t last, 70% of new products fail, and lack of customer understanding is the root cause.  I believe Familiarize can help and I want to learn as fast as possible what else I can build to make the founder’s journey easier and faster.

Another use case for Familiarize is the wannabe founder sitting in a job wanting to leave but paralysed by the risk.  I’m sure many of us can identify with that.  Using Familiarize can help de-risk that leap into the unknown by building confidence through customer validation and by nurturing customers through waitlists, engagement and email marketing.  So if you know anyone harbouring entrepreneurial tendencies or with an idea, please send them the link.

Here’s the landing page which sets out the offer: https://www.gofamiliarize.com/strugglingwithtraction

Thanks so much for reading.  It was fun writing again as the Corporate Escapologist!  Drop me a line any time at adam@gofamiliarize.com.