The goal should be to get to market as quickly as possible with a product that customers will keep. If early customers abandon your product, that could erase the value of a first-mover advantage, but if your early adopters keep the product, there’s a good chance that will lead more customers to adopt it. And that dynamic, more than the technical features of the product, is what determines who wins
Source: HBR, June 2014 issue, Henrich R. Greve is a professor of entrepreneurship at INSEAD, and Marc-David L. Seidel is an associate professor of organizational behavior at the University of British Columbia’s Sauder School of Business.
From Bruce Temkin’s blog:
Lead with why. Most corporate communications focus on “what” and “how,” telling people what needs to be done and how they should accomplish it. This command and control pattern may elicit short-term compliance, but it’s efficacy decays quickly and it loses value completely when situations change and the “how” no longer applies. Leaders need to elicit buy-in from people by starting communications with “why,” explaining the reason that something is important to the company and to the people who are being asked to do something. To fully empower people, share “why” a goal is important and “what” success looks like and leave it up to the individuals to figure out “how” to make it happen.
Came across this quote today, likely others have seen it before, but it captures some great thinking:
Life is like a camera. Just focus on what’s important, capture the good times, develop from the negatives, and if things don’t turn out – take another shot.
Strategy is the answer to five questions:
- what is our winning aspiration
- where will we play
- how will we win
- what capabilities need to be in place; and
- what management systems must be instituted?
Designing a product is keeping five thousand things in your brain and fitting them all together in new and different ways to get what you want.