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How I Reverse Engineered A $100 Million Exit - Jason Lemkin
My First Million
Multi product - second one has to be bigger
When transitioning to a multi-product strategy, it is crucial to introduce a second product that is larger in scale than the first one. By the time a company reaches 10,000 customers, having a second product that outgrows the initial offering becomes necessary. This concept extends to e-commerce businesses as well, where adding more products is essential for growth. The temptation to opt for an easier second product, such as a product extension, should be resisted. The key is to innovate and introduce a second product that surpasses the first one, ensuring sustainable business growth and preventing the company from plateauing.
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