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How to Build a Product that Scales into a Company

Harvard Innovation Labs

1.6M Views . 2023-04-05

“Build it, and they will come” is a dangerous mindset in the startup world. Even if you create a great product, building a successful company around it can be nuanced and challenging. In addition to product development, you need to find and prove product-market fit—then repeat and scale through sales and marketing. About the Speaker: Chris Gardner is a partner at Underscore VC, a Boston-based firm investing in bold B2B software founders. Chris is a resident builder, happiest when he’s hands-on with a project. At Underscore VC, that means identifying and investing in uniquely qualified founders, and then helping to build their company in any way needed: networker, salesperson, mentor, coach, psychotherapist, even drinking buddy. His tinkering and building extend to his personal life, where you’ll find him getting hands-on in any manner of project. Car maintenance? He has a lift in his garage. Music? He’s recording an album in his barn studio. Cooking? His BBQ ribs are the stuff of legend. In short, if he can get his hands on it, he can master it (except golf; don’t ever ask Chris to play golf). Though he’s known as a FinTech entrepreneur, Chris is a self-professed nerd and technology omnivore who, prior to Underscore VC, spent nearly three decades at companies focused on speech recognition, video streaming, mobile marketing, mobile messaging, e-billing, and document management. His last five roles all resulted in exits that created good outcomes for employees and investors. Most recently, Chris was an executive at PayPal and led their P2P, PayPal Here, and In-Store payments products after Paydiant, the company he co-founded and built, was acquired by PayPal in 2015. Prior to that, Chris was CMO and head of products at ExtendMedia, a video content delivery and commerce platform software company that was acquired by Cisco in 2010; SVP of Products and Marketing at m-Qube, North America’s leading premium SMS mobile payments provider that was acquired by Verisign in 2006; and VP of Products and Marketing at edocs, Inc., an e-billing, payments, and customer self-service company that was acquired by Siebel Systems in 2004. Chris earned a BA in Communications from the University of Massachusetts at Amherst a really long time ago.

This session will discuss how to build products that scale into successful companies. The speaker highlights the importance of going beyond just product-market fit and considering factors like go-to-market strategy, pricing, and business model design from the initial stages.

Product Development
Company Scaling
Go-to-Market Strategy
Pricing
Business Model

  • The talk focuses on building a product that scales into a successful company, discussing how to move beyond just product-market fit.
  • The presenter introduces the concept of the "company gap", the gap between having a successful product and a scalable business, and emphasizes the importance of designing for both product-market fit and a sustainable business model.

Insights from the YouTube Video Script

Here are some insights gleaned from the provided YouTube video script:

1. The "Product Company Gap": A Critical Obstacle to Startup Success

This video highlights a significant challenge faced by startups: bridging the "Product Company Gap". This gap refers to the difference between simply having a product that finds product-market fit and building a sustainable company that can scale. The speaker emphasizes that product-market fit alone is insufficient for long-term success.

2. Building for Scalability from the Beginning:

The speaker emphasizes the importance of designing products with scalability in mind right from the outset. This includes considerations like:

  • Go-to-market Strategy: Designing

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