MBA1527 Focus on The Things That Don’t Change + Free Ride Friday
Entrepreneurship isn’t just about innovation. Sometimes, understanding that which doesn’t change is just as important. Real long-term success requires a strategy that’s built around a few key principles; eternal truths about your industry that aren’t subject to the whims of the market.
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Show Notes
Entrepreneurship isn’t just about innovation. Sometimes, understanding that which doesn’t change is just as important.
Real long-term success requires a strategy that’s built around a few key principles; eternal truths about your industry that aren’t subject to the whims of the market. No matter what, consumers will always want their food to be tasty, their apps to be user-friendly, their trains to be on time.
So when you’re trying to come up with that unique “twist” on a product, start with the unchangeables.
Maybe your product does something in addition to the unchangeables. Maybe it addresses one unchangeable far better than the competition does. What your business does differently is crucial, but what consumers want to stay the same is equally so, and should never be forgotten.
If in the quest for innovation we forget the fundamental, basic needs behind our product category, we set ourselves up to flop. Today, we’ll share examples of those permanent truths, and how successful companies keep them at the heart of their strategies. Click Play!
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