A Quote by Jason Fried
Customers don't just buy a product - they switch from something else. And customers don't just leave a product - they switch to something else
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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.
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.
When you do something that's a labor of love, where you care about the customers' trust and putting a product that's A1 out there, you will be successful, you just have to be patient.
Deadlines are great for customers because having one means they get a product, not just a promise that someday they'll get a product.
I think our customers don't need anything. They just want something special. This is why we do collections - not just the Spring fashion show, but the pre - Fall and cruise lines too. The customers love to find something in the shop they don't see in a magazine. This is the trick about the cruise and pre-Fall collections. Nobody knows about them. When you go to the shop, you really find something you don't see anywhere else.
Customers shouldn't just think of your business as a place to buy a product or use a service - it should be a fun place to be.
Skunk works differed from advanced research groups in that they were more than just product development groups. They had direct interaction with customers and controlled a sales channel which allowed them to negotiate their own deals with customers.
That's the ultimate gratification in any business situation - do customers buy the product? And do they use it and do they come back and buy more of it?
Everywhere I travel around my home state of Wyoming - but also around the country - I continue to hear, 'How can Washington make us buy something we don't want to buy, a product? They can't tell us to buy breakfast cereal or something else - how can they do that?'
Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.
The Virgin brand is not a product like Coca-Cola or Famous Grouse whisky. it's an attitude and a way of life to many. That attitude is about giving customers a better time and better value in a fun way that embraces life and seeks to give the customers something new.
80% of all products and services that will be on the market in five years do not exist today. So therefore, always be innovative, always be creative, always think, 'What new products or services could I create, could I represent, could I joint venture?" Sometimes you can find someone else that has a fabulous product or service that you can use your existing business or resources to sell and you can double your income or sales in your business by selling somebody else's product to the same customers that are buying yours.
The point is... you'd better figure out what your Customers - the Customers you want - value. Because that's what they'll buy. Anything else is a waste of their money, and they'll figure that out in a hurry.
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.
Mutual funds charge 2% per year and then brokers switch people between funds, costing another 3-4 percentage points. The poor guy in the general public is getting a terrible product from the professionals. I think it's disgusting. It's much better to be part of a system that delivers value to the people who buy the product. But if it makes money, we tend to do it in this country.
Marketing is your battle plan for the sales team - it's about defining the landscape. Marketing is doing cohort analysis and understanding exactly what possible customers are out there. It's understanding not only which customers will respond to what messages, but also how customers will become clients if you include certain product features.
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