A Quote by David S. Rose
I almost never invest in ideas or plans, so you'll need to have a company and at least a product, if not customers.
Related Quotes
When it comes to creating a product or running a company, you need to prioritize the goal of the company or the creation of the product over and above every personal interaction you have.
The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
Before I start a company, I always invest at least one year to knowing that sector thoroughly. I research about almost everything related to that business - competition, market potential, revenue model, legal and regulatory obligations, among other aspects.
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
The 'No.1 IT company' isn't by volume, it's in relation to business customers because those are my customers, not the consumer. Who do they view as their most important partner? That's my definition of the 'No.1 IT company.'
Get your product into users' hands as quickly as possible and incorporate the crowd's feedback to iterate. Your customers will provide the data you need to chart the best course for your company and bury any competitor that goes it alone.
Visionary CEOs don't need someone else to demo the company's key products for them. They deeply understand products, and they have their own coherent and consistent vision of where the industry/business models and customers are today, and where they need to take the company.
Every company's greatest assets are its customers, because without customers there is no company.
Not being in tune with your customers is like living in an alternate reality; the way you think your customers feel about your product is not always the same as what your customers really think about your product.
Often people say they can't base their strategies on customers because customers make unreasonable requests and because customers vary too much. Such opinions reveal serious misconceptions. The truly outside-in company definitely does not try to serve all the needs of its customers. Instead, its managers are clear about what their organization can and should do for customers, and whatever they do they do well. They focus.
It's one of the underappreciated skills required by an innovator - they have to be able to convince lots of people to do things that might not be fully rational (invest in the company, join something that is likely to fail, try a product they've never seen before), and if you can't tell a good story it is just very hard to make that happen.
The future of communicating with customers rests in engaging with them through every possible channel: phone, e-mail, chat, Web, and social networks. Customers are discussing a company's products and brand in real time. Companies need to join the conversation.
Sometimes there are customers who get in difficulty because of situations that are out of their control. These are customers with genuine needs, and the role of the bank is to accommodate these customers, and there is a real need to reschedule the loans of these customers.
Cigarette companies market heavily to young people. They need young customers because their product kills the older ones. It is the only product that, if used as intended, kills the consumer.
Your company is a product. Who are its customers? Your employees, who use it to do their jobs.
Make your company stock a consumer product. When consumers buy stock in your company, they'll never buy a competitive product. You've linked their financial future to yours.
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