Nov
18
Article Summary: “Constructing the first customer reference to support the growth of a start-up software technology company” by Ruokolainen Jari
November 18, 2008 | Comments Off on Article Summary: “Constructing the first customer reference to support the growth of a start-up software technology company” by Ruokolainen Jari
This is a summary I have written for Ruokolainen Jari’s article “Constructing the first customer reference to support the growth of a start-up software technology company”, originally as part of my Harvard Innovation and Business Transformation class assignment.
Customer references can help a new business build credibility, trustworthiness and reputation, especially for new companies and technologies that are considered high risk. It is not uncommon for start up companies to over focus on solving technological problem at the expense of market commercialization, and many report difficulties in marketing. A start up company can learn essential experimental knowledge from first customer references. First customer references are often found through informal social channels, with the use of social capital. Companies should focus on competencies such as technical expertise and objective knowledge as they are as important as experimental knowledge. It is also important to secure commitment of the customer to the business.
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