START WITH YOUR MARKET NOT YOUR PRODUCT
We're all picky.
Us as consumers have more choices on which option to buy than ever before.
The purchasing power used to lie with large companies which dictated what you needed, what colours, sizes and shapes were available.
With the rise of the internet, this has all changed. Now it's the other way around and consumers dictate.
AirNZ, New Zealand’s airline, consistently wins awards and is amongst one of the most profitable airlines in the world and for a good reason.
Everything the company does from finance, the tarmac, operations, sales and travel, the whole experience cycle from beginning to end is based on its customers’ needs.
The organisation has customer centricity close to its heart. When booking with AirNZ there solemnly are lines to wait in, your boarding pass is digital, and they will even call you a cab to smooth out your travels.
They are this successful because before they build new products, they see what the customers will need and use.
Consumers/ customers are picky and hence, starting with the product will just increase the rate of failure.
What we want to do is we want to start with the customer, and we want to figure out the problems that the customers have, their thinking, their reasons, their behaviour.
That's step number one. Start with the customers, listen to them, and hack your product backwards.
LEARNING: Businesses fail not because of the product but because of the lack of sales of the product.
While many new companies will focus on building the ‘perfect product’, they increase their chances of failure as they wait to get paying customers on board.
Get the customer then build the product.