A curious mind does not say to consumers "What do you want?" A curious mind understands context, understands behavior, understands spending and spending patterns - the accumulation of a day's purchases, or spending over a week or a year. A curious mind asks the questions that open up the consumer to talk about her latent dissatisfactions, hopes, wishes, and dreams.

Many companies routinely do things that are not important. They fail to prioritize. They get involved with details that don't matter.

I like to take CEOs into consumers' homes to see the "real world." CEOs have privileged lives with big incomes, lots of help, access to just about anything they wish. The average consumer lives on $53,000 a year and has daily tradeoffs and compromises that must be made. I took a CEO into a trailer park so he could observe first-hand - and understand - how consumers use his product.

A 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.

Consumers cannot think in abstractions. They cannot envision a new concept. They cannot predict their behavior. They can only compare against their current frame of reference. So you need to make the big leap for them. You need to provide them with a reason to buy, a reason to brag to their friends. Expect new-to-the-world ideas to fall on deaf ears. Consumers will, however, change their tune when they can see, touch, and explore.

Our most exciting discoveries come from studying anomalies. The once-in-1000 occurrence is worth getting detail on.

Failure to make the tough but necessary choices means slow painful death.