Own one idea. Complete it. Map the current model of purchase and usage. Change how it is done so at least some part of the market uses only your product. Extend from that core user to a much broader universe. Describe your concept in a very short, "six-word story" - a la Ernest Hemingway: "For sale: baby shoes, never worn."
Michael J. SilversteinFor me, it's often about consumption behavior. I focus my energy on understanding the heavy user. They are "odd" but hold opportunity. I ask: how do they use the product, what motivates them, how can we clone them.
Michael J. SilversteinAlways welcome your customer's scorn. This rule says read the complaint letters. Categorize them. Decide how you are going to wipe them out.
Michael J. SilversteinA lot of people believe you only need a vision. This is simply not correct. You need brilliant execution every day. It's about attention to all the details of go to market.
Michael J. SilversteinI believe in classic ideas. They are timeless. They are forever. There are many fads in management.
Michael J. SilversteinPeople need to be inspired. They need to hear and believe a story. If you want them to be self-motivated, you need to engage them.
Michael J. SilversteinThe truth is that business is simple: create great products, merchandise them at the point of sale, continuously innovate and surprise, reward and achieve a position of loyalty with your front line, and seek new truth from the market. Deliver the goods at a competitive cost. Price to earn a decent but not competitively inviting return. Not much else matters.
Michael J. Silverstein