B2B and B2C startups don’t attract the same kind of profiles. B2B entrepreneurs are generally more pragmatic and process-driven. They appreciate predictability and are usually more risk-averse than their B2C counterparts.
B2C founders generally seek high-impact ventures. They want to build products they would love to use. Their businesses typically require a lot of users to scale and are high-risk, high-reward opportunities.
Although B2B is less sexy, founders can achieve the level of success of their choosing. There can be several small, medium and large businesses serving the same market need. B2B is not a “winner takes all” game.
A B2B startup can solve a problem for a niche market and, if it fails, may be able to sell the technology it developed because it addresses a real problem. The same cannot always be said for B2C startups.
So, is B2B for you? Take the quiz below. Do you prefer?
- A. Building relationships with hundreds of users.
B. Acquiring millions of users.
- A. Solving a customer’s pain.
B. Creating a market need.
- A. Selling big.
B. Selling fast.
- A. Improving your product with feedback from a small group of users.
B. Improving your product with feedback from a large pool of users.
- A. Becoming a thought leader in your clients’ industry.
B. Letting your clients be the experts.
- A. Hiring salespeople.
B. Hiring marketing staff.
- A. Investing in demos, data sheets, case studies, whitepapers, lunches, conferences, etc.
B. Investing in your website, search engine optimization and search engine marketing.
- A. Working on the return on investment of your product.
B. Working on the user experience of your product.
Obviously, answers are not necessarily mutually-exclusive, but if you chose “A” five or more times, chances are, B2B is for you. The closer your score is to choosing “A” eight times, the more likely you are to be a B2B entrepreneur and may be ready to turn a full-time job into a B2B business opportunity.
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This sampler covers the differences between B2B and Business-to-Customer (B2C) product-market validation, shows you how to define your vision for success, find early adopters, select market opportunities and assess a venture's risk. Download The First 6 Chapters Today »