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7 Ingredients Of A Successful Digital Product
Introduction
Many ideas are created every day, and many businesses are opened to support those ideas. But only a fraction of them will stand out.
Your startup has only a 1.28% chance to become a unicorn ($1B+ valuation) after you raised your first round of funding.
Several key traits distinguish exceptional products from mediocre ones.
1. Technology
Is your technology a significant advance or only incremental improvement?
The technology may be your greatest possible asset because it makes your product difficult to copy. For example, proprietary technologies used in Google’s search algorithms for query auto-completion make the search engine hard to replicate.
For proprietary technology to give you an edge, it needs to be at least 10 times better in some major way than anything like it. Anything short of a dramatic difference will seem insignificant to users, which means they’ll be unlikely to switch from what they’re used to.
2. Timing
Is this the right time to sell this technology?
