Reposted from OnStartups.com…
Seth Godin’s blog here…
These are all really good insights.
I love #15 and #16, too many people I have talked to bail as soon as they discover there is competition instead of using this as inspiration for better product and validation of a market and product idea.
Number 12 is very important. As soon as you start talking about your product to your customers everyone, including your competition, will know about it. Build in the open-ness from the beginning, rely on your ability to do it better and cleaner than the next guy, don’t hide behind secrets. If it is a great idea run with it, use the inevitable competition to inspire you and keep you moving. Competitors will always find a way around your “secret” and if you are just sitting there when they make an end run you are screwed.
1) Reliance on the tried and true can backfire.
2) Sell the problem. No business buys a solution for a problem they don’t have.
3) Every activity worth doing has a learning curve.
4) As the world gets faster, the glacial changes of years and decades are more important, not less.
5) Cultural shifts create long terms evolutionary changes.
6) Being 1st helps in the short run. Being a little more right pays off in the long run. Last is the worst.
7) Build in virality.
8) Subscriptions beat one-off sales.
9) Treat different customers differently.
10) Generate joy. Don’t just satisfy a need for a commodity.
11) Plan on remarkable experiences, not remarkable ads.
12) Don’t build a fortress of secrets, bet on open.
13) You can get even more done if you give away credit, relentlessly
14) Create scarcity but act with abundance.
15) Competition validates you. It creates a category. It permits the sale to be this or that, not yes or no.
16) There are lots of good reasons to abandon a project. Having a little competition is not one of them.
17) It’s not who can benefit from what you sell. It’s about choosing the customers you’d like to have.
18) The customers you fire and those you pay attention to all send signals to the rest of the group.
19) 100 people doing something at the same time has far more power than 300 people doing it over time.
20) Are you chasing or being chased? Are you leading or following? Are you fleeing or climbing?
21) Get it right for ten people before you rush around scaling up to a thousand.
22) Highlighting what’s working helps you make that happen more often.
23) Perfect is overrated. Perfect doesn’t scale, either.