An article by John Doerr had a great quote from technology luminary Alan Kay that every entrepreneur needs to remember “The best way to predict the future is to invent it.“
I’m working with a company that at one point had a product that was not only best in class, but also technically far ahead of its competition. It created a better way of offering its service and customers loved it and paid for it. Then it made a fatal mistake. It asked its customers what features they wanted to see in the product and they delivered on those features. Unfortunately for this company, its competitors didn’t ask customers what they wanted. Instead, they had a vision of ways that business could be done differently and as a result better. Customers didn’t really see the value or need, until they saw the product. When they tried it , they loved it.
So what did my company do when they saw what their competitor had done ? They repeated their mistake and once again asked their customers what they wanted in the product. Of course the customer responded with features that they now loved from the other product.
Business Insider Emails & Alerts
Site highlights each day to your inbox.