Executive Summary NEED section – not just for end users!

There are a lot of ventures where the end user (person who uses your product) and the customer (person who pays for your product) are not the same. Many of these ventures make a big mistake in telling their story to funders: they only talk about the end user. Talking about the end user is important. But talking about the pain points being felt by the person who will pay you (AKA your customer) is MORE important. Got a new gadget that helps people cut weeds that you want to sell through Home Depot? Well, it better be a great tool for the end user and satisfy the very different concerns of a big-box retailer!

This problem often runs all the way through a venture’s design. You need to understand both the end user and your customer. You need to understand their pains, the incentives they operate under, how they make decisions, how much money they have to spend, etc.

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3 thoughts on “Executive Summary NEED section – not just for end users!

  1. Paul,

    You hit the nail right on the head and I can vouch for it from my perspective in the travel industry. As VP for corporate travel at a large travel agency, I repeatedly had to remind our agents that there’s a traveler (user) and there’s a corporation that pays for the trips (customer). The corporation’s need to save on T&E expenses or follow travel policy are just as important as the traveler’s need to fly an airline where s/he gets miles.

    Our business plan for the start-up specifically talks about this issue. In the traveler’s profile area that we will create, there will be a section for the traveler to fill out about her/his preferences and there will be a section for the coporate travel manager to fill corporate preferences for all travelers belonging to that company.

    Example: The traveler might indicate a preference for non-stop flights while the corpotrate travel manager might indicate United Airlines as a company preference. Our algorithms will therefore prioritize non-stops on United as a combination of those preferences.

      • Thanks, Paul. I am always looking for collaborators and content providers. This company has latched onto the unique niche market of selling “empty legs” on limos. I have seen it on aircraft and yacht charters. It will be interesting to hear from them how they solve the problem of the dynamic nature of the business – what happens if the originating trip (the one on which the empty leg is based) is cancelled or changed?

        We’ve just added cruise ports to GoScopia and that might be even a better market for empty legs because cruise passengers are a lot less likely to cancel or change.

        Thanks for the idea – I will contact them and see if they’re open to join.
        Ophir

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