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Then click here or click on the chevron to reveal my thinkingAs usual I don’t want to give you an answer.If you choose what might seem obvious, Quadrant 4, Blatant and Critical. Then you won't have to invest money in developing a market need. That work can be expensive, time consuming and also very risky, as the market may never emerge.
Instead you can just focus on spotlighting the need and highlighting it with customer stories that help others realize they too have the need. Be careful to do this one segment at a time, starting with a where all the potential customers have the same need.
But what is the downside to chosing Quadrant 4, Blatant and Critical?
Startup Secrets Sandbox
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BLAC and White moves
Playing 2x2 chess...
How do you become a must have, Blatant and Critical product?
How you move through the quadrants of the BLAC and White framework can be quite strategic. Just like chess, it pays to think several steps ahead if you’re going to win the whitespace, efficiently.
Labeling the quadrants:
1 Latent Aspirational - New products for yet to be recognized needs (eg the iPad when first introduced)
2 Blatant Aspirational - Luxury goods (Luxury Fashion, Cars, Boats)
3 Blatant Critical - Healthcare, Accounting products
4 Latent Critical - Risk management and insurance products
B2C
Many consumer products start in the bottom left, (quadrant 1) but can make their way up toward the top left (quadrant 3) as they become fashionable and may even get to being “status” symbols. There are all sorts of ways this can be achieved, from great design and branding, to capturing “trendy” waves. Recruit influencers, brand ambassadors, or even famous people who endorse your product. Have them tell their stories using your products and services.
B2B
In B2B, it’s ideal if you can make your way to becoming Blatant and Critical. But if you start off in the Latent Critical bottom right, develop a narrative and case studies of why people can’f afford _not_ to use your product. Believe it or not cyber security was not even a category a few decades ago because people weren’t aware of the risks of data loss. When I was at Symantec we had to take out full page advertorials educating people on how susceptible they were without anti virus and backup software and highlighting the costs of data loss and downtime.
These products moved from latent to critical as the rise of networking and the internet made it obvious how quickly things like viruses, data breaches and identity theft could wreak havoc.
If you read between the lines here, you’ll see that timing is critical in your progress through the BLAC framework. If you move too fast, getting ahead of the market, you’ll burn cash. If you move too slowly someone else may capture the white space before you do. See
The Startup Secret here is simple,
Don’t just try to time a market, pace it!
Needless to say the pacing should be determined by your customers. If you’re having to push them to buy you’re early. If you’re feeling pull from them then you’re in the sweetspot. More about this in the section of Startup Secrets, because picking and focusing on the right can help you create a tipping point within an initial segment to go from push to pull as you show success and garner a critical mass of reference-able customers.
Exercises
1. Think about what kinds of things you buy and use or discard and fit them into each quadrant.
I often get questions about examples of the two less obvious quadrants, 2 and 4.
2 - Blatant Aspirational : Think of LVMH, one of the most successful consumer businesses of our age. Luxury fashion items are things people aspire to look and feel good and some people find it blatantly obvious that they must wear the latest fashion or sport the latest status symbol to be perceived appropriately!
4- Latent Critical: Insurance. We all insurance is critical for many things like health or even mandatory in some cases, but beyond that it's often latent until disaster strikes, then it becomes blatantly obvious we should have had it!
2. What might be your favorite quadrant to invest in?
Think of your answer if you were investing your own money into a product or service.
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