The StormForward team, led by Dr Simon Murdoch, are experts in assisting early stage businesses to demonstrate a path to profitability and make them investor-ready.

Experts’ views on Instant

Our panel, consisting of an investor, an entrepreneur and two advisers, gives its’ views on how Instant should create a market for its managed office product.

Simon Murdoch, Investment Partner, Octopus Ventures

This is a common challenge for any company introducing an innovative product or service. Instant has to educate the market about the new way for companies to lease offices and this takes longer than a traditional sales strategy and requires significant investment in marketing materials and in selling time.

It’s important for Instant to take an open consultative approach to selling. With a new proposition like this, the benefits need to be explained face-to-face with clients, and the sales team need to be excellent at listening to potential clients’ feedback and objections. It’s possible that the proposition has flaws and needs refining in terms of message, pricing or other factors.

I would suggest that Rob and Catherine also attend some of the sales meetings with clients to find out for themselves how to hone the sales and marketing proposition for managed offices. The key is to test various approaches and do more of whatever works well. For example, the company should be analysing the types of clients that are attracted by the benefits of managed offices to understand which segments of the market this works well for.