What’s one piece of advice you have for entrepreneurs who are building enterprise software right now? What do you wish they would consider (or what principles do you use) to make that software great?
The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
Entrepreneurship Advice from 7 Established Leaders
1. Remember That Less Is More
Too often when people hear enterprise software, two words come to mind: complicated and expensive. I would advise those building enterprise software to keep in mind that less is more. Stay focused on what enterprise problem or need you are trying to solve, and don’t get distracted adding extra features. Doing this will keep your costs down, allowing you to charge less.
Phil Chen ( https://twitter.com/
2. Focus on User Experience
The days of cumbersome enterprise software are ending rapidly. An easy, intuitive user experience is important to promote adoption and create long-lasting customer relationships.Martina Welke ( https://twitter.com/
3. Pay Attention to How They Really Use Your Software
4. Get It Done, Then Perfect It
5. Don’t Forget the Details
6. Pay Attention to How They Buy
Enterprises buy software in a very different way than small businesses and consumers. Understanding the buying process is key to the success you’ll have as an enterprise software company.
7. Have a Revenue Model From Day One
An enterprise expects to pay for products and services. If it’s free, then that’s how they’ll value it. To build a successful B2B enterprise product today, you should launch with a paid plan and make it a significant cost (more than $100/month). Make it easy to cancel, and don’t require payment upfront. Your customers will respect you more for it.
8. Build for Yourself
9. Fix Pain Points Quickly