#18: Now is the Time to Launch a Product Studio
Updated: Aug 16, 2021
I read a great post by Greg Isenberg (@gregisenberg), "Why The Future of Start-Ups Are Studios" + wanted to share the 6 reasons why I absolutely agree with him.
Low Code No Code makes it significantly less expensive + faster to use the software equivalent of Lego building blocks to get functional products into the hands of users.
Reducing Investment Requirements
With the exception of the studios time / focus, upfront capital requirements to test an idea are minimal.
Existing communities across digital platforms with the critical problems a product is looking to solve for make distribution significantly more effective.
Beyond your existing community, developing + executing your go-to-market-strategy leveraging modern tools, platforms, owned content + techniques (i.e. Build in Public) will increase your probability of developing a growth flywheel aka dramatically lower client acquisition cost.
Along with functional expertise from seasoned operators (i.e. Distribution, Customer Success, Growth Ops, Talent), vertical specific studios bring nuanced industry understanding + relationships / access that generate substantial product design / development benefits.
De-Risk Investment Profile
Combining #1-5 above + testing more / better ideas over time, a studio will generate products with users, revenue and a clear growth path that will reduce the risk profile.
If you want to go deeper on the above, check out Venturism's thinking across the topic (venturism.io), KP's (@thisiskp_) thinking on Building In Public + Jack Butcher's (@jackbutcher) thinking on Selling Your Sawdust.
January 24, 2021 (Tweet Link)