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20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
Navigating Product Development and Customer Integration
Successful product development requires a deep understanding of customer needs, which often evolves over time. Initial offerings may not fully address those needs, as seen with a product initially perceived as a backup appliance, highlighting the importance of pivoting to focus on recovery. Integration ease plays a critical role in customer adoption; products that seamlessly fit into existing infrastructures are favored over those that require significant changes. Simplicity is a key advantage in technology, leading to better acceptance and use. When introducing new solutions, it's crucial to clarify their budgetary impact, ideally showing how they replace or reduce existing expenses rather than just adding to them. Organizations must articulate how a product will help customers either generate revenue, cut costs, or mitigate risks, particularly regarding security products. Highlighting these benefits is essential in driving customer engagement and securing sales.
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