I have always been a big fan of being second to market with a product, service or an idea. I find that the first mover advantage can be overcome by a person or company who watches carefully and corrects the mistakes made by the first mover.
Daniel Ronen, director of Portman Business Consultancy, said that being small could be a positive advantage. “Being a small company means that you can get into markets that are not viable for large businesses.
“Big companies sometimes find that it is just not worth investing in a market because the returns would be too low to justify the effort. But as a small business you generally have a lower cost structure. So where markets are not big enough to support a number of large companies, smaller suppliers of niche products or services can make very good profits.
So how do you convince someone that your idea really will work?
Show them evidence that it is already working. That’s traction.
And show them that the rate at which it is working is accelerating, and therefore, that success will be achieved because the metrics show that they will. That’s trajectory.
Working on things that don’t make sense is the single biggest source of job dissatisfaction. Who wants to work on something that is obviously going to fail? Who wants to fight traffic, spend 8 to 15 hours in a windowless office, answer another 200 emails, and sit through at least 5 boring meetings every day, just to do something stupid?
Technorati tags: management
While there are plenty of businesses that don’t seem to understand that the web can do amazing things for them, there are some cases where an entire industry seems to not understand the full potential of the web. I use the word “industry” loosely. Here’s my list.
Technorati tags: web2.0
1) Utility – Do I use the product or service often, and do I like the way it works every time?
2) Value – Is the price I paid worth the utility of the product/service (frequency and impact in my life)?
3) Delight– Have I been wowed beyond expectations in the product or the company? Is the product/service differentiated?
4) Integrity –Does the company have people, actions or policy that reinforces integrity and commitment?
5) Relevance – Is the product / service ubiquitous enough to be useful to you?
Technorati tags: marketing