Budding entrepreneurs in the software space should focus more on market gap, customer need and user adoption than on the ‘coolness’ quotient of their product or the ‘cutting-edge technology’ buzz.

Why do many entrepreneurs and even the CEOs of MSME / SMEs get into this kind of trap? In my daily job of selling branding, marketing and outsourced sales services to such individuals and companies in the technology space, I have observed a few key points:

1. Many spend considerable amount time and fortune on the newest, latest techno buzz and complex algorithms. Because they think that is what the customer will like.

2. Many believe in the product idea but not as much in the presentation and packaging of that idea.

3. Many assume that they understand the market because they have worked and developed software products for ABC organization. Sitting in a cockpit is way different from flying a plane.

4. Many feel that customers will fall for free usage / offers… so getting the initial set of customers is easy. Then why didn’t loads of free presentation sharing sites clicked as much as SlideShare?

5. Many assume that their product idea is very critical to all their users. Usually, their idea is not based on any customer insight.

Markets before you are way different from you being in one of those markets. Get on to the ground, hit the market with a prototype and meet real customers. Explain scenarios, sell your solutions and observe real customers. Build only the set of features that these real customers like or want to have in it. These real customers will indirectly teach you what is Branding, Marketing, Sales and ultimately Business.