A Quote by Jon Oringer
We have a lot of customers in Japan, but they don't quite get the local content that they always need, so we want to encourage all of our product teams to start thinking globally.
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Most entrepreneurs don't need as many customers as they think. A lot of people think 10 is too few for a sample. But if all 10 refused a product, why is that not enough? If you want 100, 1,000 or a million customers, you first have to get 10.
It's harder than ever to build an enduring company. As soon as a product strikes a nerve with customers, competitors emerge globally because the costs to start are so low.
An American customer can book in English all over the world, but also, somebody from Japan or China can book in their own language everywhere. We translate all of our content into these languages, and that's quite unique. We service our direct customers - the innkeepers - as well in their own language.
I'm quite content with who I am and what I do. You might get someone in your local Tesco who might know who you are. But not really. To think you couldn't do those simple things, I'd say I'd probably crave them quite a lot.
I have also made this a point in our company: We need to stop taking baby steps and start thinking globally. It really seems to be helping.
The biggest product thing for international is connecting you with local people, local content.
Betting all your funds on the belief that you know what consumers want and are willing to pay for is like jumping into a river to test its depth - you'll need a lot of luck to stay afloat. To have a truly successful product launch, the conversations with your customers must start long before you write your first line of code.
A lot of tech people are afraid to get on the phone and talk to their customers, or get on Zoom, or whatever. But I think a great place to start is just be calling your customers all the time.
I want you to say to me right from the start, "We are here to serve customers. We're not here for me to make a lot of money. We're not here to bet on interest rates or credit spreads. We are here to serve our customers really well over a long period of time, and that's how you build a successful business." And so I want to see that, too, you know?
Auctomatic was a compressed start-up experience, going from start to launch to acquisition in under a year. We spent a long time building the product before getting our first customer, whereas with Stripe we made sure we had paying customers from the very start.
Ultimately, going into the consumer market, we really need outstanding content. That was the goal: if we can get the developer kit out at a low enough cost point, then hopefully a lot of developers would show up and start creating content.
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.
We could be like a lot of consumer brands that start blogs after they start their business. But in our case, I think Glossier is still very much a content company. I think about our products themselves as pieces of content.
If you take the more general role of going to local stations around the country in Montana or South Carolina or wherever, and start in the local news, it's a lot more difficult to get to the stories that you want to really cover.
I always encourage people to start in their own personal universe, because sometimes we as parents start thinking about the big picture. How do I change what's happening in my entire school? And how do I do it in my community? And then you get overwhelmed and it's just like, "Forget it, I'll just stay here in my kitchen and wait." But, start small.
The first thought is always about making the playoffs. That's the tough part. And once you get there, only then you can allow yourself to start thinking how you are going to play in the playoffs against other teams. And a lot is left to chance then. There's an element of luck as well: sometimes you get lucky, sometimes you do not.
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