Startups have always strived to stand out from the crowd and gain a relevant following. One of the ways to do that early on during product development is by deciding to build in public. On this page, we dive into the details of building in public.
Many startup founders harness their willpower and decide to build in public. Usually, they do so if they’re looking to solve a problem and want to establish a loyal following. What helps achieve this? Transparency.
What’s Building in Public? 👷
Numerous founders and entrepreneurs believe that building in public could be the key to success. Yet what does the process imply?
Essentially, building in public implies the practice of sharing the behind-the-scenes of building a business with the public 🚧 This includes giving out statistics, showing your plans, strategy details, and lots of other insights. Instead of keeping everything under wraps until the official launch, startups are now choosing to communicate openly with their audience and potential customers.
In this case, all eyes are on you. So if you want to make the most of the approach, you have to choose the right channels, be consistent, and bring value to the audience.
What Are the Build in Public Benefits? 🏗️
🟠 By openly sharing their progress, challenges, and failures, startups can build trust with their audience. You show that you have nothing to hide. On the contrary, you share your knowledge, best practices, mistakes, letdowns, and lots of ongoing things that make your product and its creators real. Authenticity rules in the long run and helps win over customers.
🟠 Additionally, building in public allows startups to get feedback from their community. This is crucial as any startup wishes to improve its product and ensure that it meets the needs of the target audience.
In a world where consumers crave connection and authenticity, building in public just might be the key to unlocking growth for startups. Yet, of course, there are downsides to this strategy too. Keep reading to learn more about the possible transparency risks and how to build in public the right way 👇