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FIB - Scams 101 - Ye Olde Archives

The fallacy of mega-ideas and marketing last

Posted By: S. Tanna
Tuesday, 28 June 2005, at 10:31 p.m.

In Response To: Business advice in general (The Roadie)

Most successful business don't start out with a mega-idea that nobody else has thought of, or implemented. Instead they usually do something that others are already doing, but better than the other guys, and in some cases only marginally so.

In computers:

Compaq, when founded was originally going to be either a computer company or a Mexican Restaurant. When they decided on computers, they did come up with a cool idea, which was build an IBM-compatible (the first IBM compatible) and put it into a luggable case... whereas the dozens of other computer companies founded about the same time, most of which aren't still around, thought they would be a success by building technically better computers (which turned out not to be better in the minds of customers who wanted to run Lotus 123).

Dell, build IBM compatible PCs (they're good PCs, I've bought several, but I can't honestly say that they are hugely different from other brands of decent PCs) -= their main innovation was delivering by mail.

Apple, first achieved success by including color graphics in the Apple II, when most other computers had no graphics, or monochrome. The Apple II however was their second product, their first was an also ran, Apple I that few remember (and they also had lemons later like the Apple III). They later succeeded with the Mac, by introducing a GUI and affordable Laser Printers for DTP, but remember this was many years after they were founded. At the time of all this, there were dozens of other computer companys, some of which may have been better in other ways (more memory, faster, bigger disk, could connect to networks or whatever), but Apple found the particular better than was important enough to enough customers to be a success.

And so on...

Outside of computers, how many people know that 3M were originally founded as a mining company? They switched to their various other endeavours after many years, and IIRC to get rid of the grits and stuff that were coming out of their mine (hence 3M sandpapers), and most of their later products don't come out of any mega-plan, but ideas for products that bubble up in the business, usually from employees, for example gloop landing on a guy's shoe and him realizing that part of his shoe was now non-stick.

And since we're talking about Corey Rudl... does anybody really think he thought of all his products at the outset? I'm sure that he added to his range as new ideas came along, but even with the main IMC course, didn't it start by him doing his course better/different than the other guys who were producing similar courses?

What I'm saying in short, is get an idea, have an idea how to do it better than the other guys, but it doesn't need to be a mega-idea.

One other point, before I shut up:

Don't leave marketing till last.

1. In all the cases I've talked about, the person/company must surely have been aware of marketing issue at an early stage (or they got lucky thru a shot in the dark). I'm talking about things like market knowledge, market research, whether they could make a marketable products from their innovation, what to choose as their product differentatior, how they might market their product differentiator, etc.

2. It's no good producing a better product (or a mega-idea), if you won't be able to sell it, or enough of it. Hence some kind of marketing analysis is necessary at an early stage.

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You'll find great information in this "Read Only" Archive, but remember..... things change.
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We're very friendly, so don't be shy... just jump right in and post your question.
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