I just concluded a conversation during which I realized why my success has grown so significantly over the last two or three years. In a nut shell, while ColorMetrix products can be used to solve technical problems that is not what Jim Raffel does. I solve business problems.
My company, ColorMetrix, still makes and sells a world class cloud based verified color solution. And you know what? Many of my “competitors” in the space where we used to generate 90% of our revenue now give away (or include) verified color solutions in their products. If that does not define “race to the bottom” I do not know what does. It’s darn near impossible to compete with free.
If, however, you add supply chain color strategy, based on over 20 years experience in supplying verified color solutions, now you can compete. You need to solve business problems with your technology products. See how that’s different than solving a technical problem? Solving technical problem is relatively easy compared to solving business problems that reduce costs and/or generate revenue.
It starts with your technology but ends with your business skills
Your technology can and will get you in the door. The problem is the level of entry that you will make into an organization. You’ll be dealing with engineers and product managers. Not bad people but people who are already working on existing business ideas.
How about writing and speaking about solving business problems with your technology? Now, you have a shot at entering an organization at the director or higher level. Not only that, you’ll be part of the team that plans new product or service before development even start. Your technology could become an integral part of a solution with a five or ten year life cycle.
Your current technology offering may not have what it takes to make this transition. Or, your business skills may need brushing up. Dig deep and look for the unique value proposition you and your technology can offer. When you find that value proposition you will only be competing with yourself.