The product or service your new venture has created may be better, faster, and more improved in every way, as compared to the competition. That doesn’t mean, however, that they will adopt your product into their lives. Before you bring your product to market, you need to understand the level of risk the customer assumes by supporting your product.
Take the case of a start-up airline. A challenge we saw at Lakeshore Express was getting customers to overcome the psychological barriers related to security and safety in order to take a chance with a start-up, smaller airline, as compared to the tried and true major carriers that have been in business for nearly 100 years. While customers complain about major carriers, there is some level of comfort in their relationship. Even if their flight is cancelled, the customer knows other flight options are available. They know that security concerns and safety concerns are minor risks, unlikely to affect their experience. They know there is a very high likelihood they will actually get to their destination, albeit possibly a little bit delayed.
Use this understanding to review your own venture and its offering. What barriers must the customer overcome to be comfortable with your product? In many cases, the customer must actually try your product before they are willing to spend money on your offering. Even then, it doesn’t guarantee a conversion. In other cases, the decision process may take 6+ months before a customer is familiar enough with your product/service/brand in order to finally make the commitment to support your venture.