Insolar is a PaaS that enables developers to embed trust in transactions, reducing business friction and unleashing economic potential.
Insolar is a DLT-project (Distributed ledger technology) which focuses on delivering the best infrastructure for businesses when it comes to implementing blockchain into their workflow.
Insolar was founded by former InstaMart founders (now SberMarket with a cap of $13 bln) with a rebellious spirit and lofty objective: to transform blockchain technology from a geek's toy into a useful tool for real world applications.
Insolar consists of a team of over 70 people is based across North America and Europe.
Year of founding
People in the team worldwide
Mathematically strong solution
Several promoted (but absolutely not payback) pilots with well-known brands were held
The team did not agree on the vectors of company development
It was necessary to urgently determine the specific market and get the first paying customers in order to raise the next round of investments in March
One of the pitfalls of B2B startups is to confuse early customers and pilots in large Enterprise. Especially if the startup is Deep Tech.
Let's imagine that you want to automate a process in a company, for example, minimizing risks in the supply chain is a common case for blockchain platforms.
After long presentations and presales, you are invited by a large company to conduct a joint pilot. You are on the rise! Here he is your first paying client, here is the long-awaited revenue, a reason for PR. You throw all your strength on the pilot.
But it's not that simple
A little later it turns out that:
Customization of a pilot project of such a scale that it will never pay off.
You are not sure that the company has continued to pay for the subscription and will not require further development of the solution.
The created solution reflects only the situation in a specific large customer, but not in the market as a whole.
We usually meet B2B product managers — both young companies and new directions of already stable corporations — with the common problem:
There are pilots, but there is no regular revenue. We don't understand what our product is.
What we've done together with Insolar team
Conducted an interactive workshop where possible development markets were identified.
With the help of design thinking tools, we tried to form a description — who is the client of the company, his KPI, his internal motivation, his information field.
Qualified the main user
Determined who is the End-User and who is the decision maker of the product and what main job he performs.
Analyzed the previous client interviews of the team and understood why they did not help to get closer to the product
The most important thing: Insolar team has formed the criteria for choosing a market, determining a paying segment and making a decision to recognize a business hypothesis as confirmed or to "kill" it.
The biggest win of the workshops was the cross-functional alignment within our team. Really helped us becoming more down to earth, focused on selling a sellable product in the here and now, vs thinking about a future 'spaceships'. Well prepared. Showed our blind spots. Real world examples helped.