Saturday, October 08, 2005

links of interest to me

often i send links which interest me to people who i feel be might be interested in them. i have decided to post them here too
a repetition of known facts but still worthwhile given the ideas being
presented might be of use.
What lessons can be learned from this experience?

* Never get too far ahead of the market. Creating new markets, new
business models, and value propositions is very difficult and takes
lots of time and money. Pioneers are usually unsuccessful, the fast
followers make most of the money.
* Understand who your customer is, what problem you solve, and how
much they are willing to pay for it. Sounds simple enough but you
would be surprised how many start-ups get excited about their
technology innovations and forget about the basic business
* Never start a business focused on solving a big company's
problem. They don't know they have a problem…and they are probably
right. That is how they got to be so big in the first place. The
record labels didn't know they had a digital distribution problem and
were not interested in our solution to it.
* Test your assumptions before spending lots of money. Interview
your potential customers. Understand what their top 10 problems are.
Don't try to convince them that you have a solution to a problem they
don't know they have. Take a survey of 100 potential customers. Ask
them to list their top 10 problems, without prompting from you. If you
don't see your problem area listed…move on to another problem.
The long tail of software. Millions of Markets of Dozens.
Kathy Sierra is like Paul Graham (great to read once one gets the
hang of the taste). I have read all of her books.


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