|
Previous Next
1 minute

You should always invest your dollars into product development rather than in marketing

You should always invest your dollars into product development rather than in marketing You should always invest your dollars into product development rather than in marketing
Source: Karl Andreas Groß via artstation
Font size
A
12 24 17
A

The balance of power is shifting toward consumers and away from companies… The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it.

Loading …
Your example


Please enter a value.
Similar articles
Topics:
Business
The last effort to any task requires the most work The last effort to any task requires the most work
tomaszmro

The last 10% is 90% of the work

Topic:
Business
Defining a strategy is about picking the most effective course of action among all the possibilities which you can chose from Defining a strategy is about picking the most effective course of action among all the possibilities which you can chose from
ravitez via Behance

Any goal can be pursued in a variety of ways. It is the job of strategy to choose the most effective course of action for attaining objectives.

Topic:
Startups
If your startup can not grow exponentially, then it's not a startup
If your startup can not grow exponentially, then it's not a startup
GIF
Motion Graphics via Tumblr

(...) in fact startups do have a different sort of DNA from other businesses. Google is not just a barbershop whose founders were unusually lucky and hard-working. Google was different from the beginning.

To grow rapidly, you need to make something you can sell to a big market. That's the difference between Google and a barbershop. A barbershop doesn't scale.

For a company to grow really big, it must:

(a) make something lots of people want, and

(b) reach and serve all those people.

Barbershops are doing fine in the (a) department. Almost everyone needs their hair cut. The problem for a barbershop, as for any retail establishment, is (b). A barbershop serves customers in person, and few will travel far for a haircut. And even if they did the barbershop couldn't accomodate them.

Writing software is a great way to solve (b), but you can still end up constrained in (a). If you write software to teach Tibetan to Hungarian speakers, you'll be able to reach most of the people who want it, but there won't be many of them. If you make software to teach English to Chinese speakers, however, you're in startup territory.

Most businesses are tightly constrained in (a) or (b). The distinctive feature of successful startups is that they're not.

Topic:
Business
When you have a project, pour in the necessary resources
When you have a project, pour in the necessary resources
GIF
behexagusthegreat via tumblr

Whether a small or an ambitious one, projects which do not have enough ressources allocated are bound to fail

Topic:
Startups

Disruption also attracts attention: disruptors are people who look for trouble and find it. Disruptive kids get sent in the principle's office. [Disruptive companies] often pick fights they can’t win. Think of Napster: the name itself meant trouble. What kinds of things can one “nap”? Music... Kids...and perhaps not much else. Shawn Fanning and Sean Parker, Napster's then teenage founders, credibly threatened to disrupt the powerful music recording industry in 1999. The next year, they made the cover of Time magazine. A year and a half after that, they ended up in bankruptcy court.

Row:Column:
×