If your company is committed to a specific product or solution then you are in danger of being made obsolete by newer and better solutions. Companies believe they are in the product development business, when they are actually in the business of solving problems for their customers.

Specialize in the Problem You Solve for Your Customers

Build expertise around that problem and your customer’s relationship to it, and you will be in the best position to take advantage of better solutions as they emerge.
– The Startup Daily

Make Art Every Day
October 31, 2011Volume #217
Whether your art is writing, selling, or building your business, the simple act of producing more work every day will eventually pay off.

Nothing Will Hone Your Skills Faster than Daily Practice

But don’t allow yourself to put off today’s practice with the intention of making up for it tomorrow. It’s far better to practice for a short period every day than a longer period once a week. When it comes to practice, it’s the daily act that counts.

Mastery begins with a decision to work at it every day.
– The Startup Daily

Pay Attention to Workarounds
October 28, 2011Volume #216
The ad hoc solutions that people develop to solve problems are a great source of inspiration for new innovations.
– The Startup Daily

Workarounds Often Point to New Product or Service Ideas

The functionality and features of the home-made solution are an excellent starting point for identifying a minimum viable product.

Your customers will not be fooled if you pretend to be larger than you actually are. You will just seem inauthentic.

Use Your Small Size to Your Advantage

Turn your size into a strength by pointing out the advantages of working with a smaller business, and the disadvantages of your larger competitors. Smaller businesses are more responsive, and are able to offer personalized service that larger organizations can’t match.
– The Startup Daily

Many businesses are formed with the intention of combining several existing components into a single solution.

It sounds like a good idea for customers. Buying the whole solution from the same company is simpler and easier. Unfortunately customers don’t usually see it that way.

Customers Prefer Buying from Specialists

Over time, a product category tends to become fragmented. Businesses that are more narrowly focused on the right attributes become more successful, while the one-stop shops slowly lose their customers. The challenge is to fight the natural tendency to become a generalists and stay specialized.
– The Startup Daily

Consumers are faced with an ever-increasing number of features and options to choose from. Too much choice leaves customers feeling overwhelmed and under-qualified to make the right purchasing decisions.

Make Your Customers Smarter and They Will Keep Coming Back

Help them make the right selection—even when it’s not your product—and they will come to you again and again. Instead of just one chance to sell to that customer you will have a chance every time they make a decision to buy.
– The Startup Daily

An organization will loose it’s way when the management is too focused on the technology, product development, and internal politics of your business.

An Organization’s Point of Reference Should Be What is Going On In the Marketplace, Not Just Inside the Company

The needs of the market change fast. Companies that ignore the signs may find the product they are creating is no longer the product their customers want to buy. When you look at a business from the outside in, you can stay aware of the changing landscape, and how your business fits into it.
– The Startup Daily

A boss who isn’t accessible to all of his employees is putting himself at risk of being manipulated.

Those Who Control the Flow of Information to the Boss Control the Boss

Smart bosses make themselves accessible to everyone.

People who repeatedly waste the bosses time should be weeded out, but anyone who isn’t on the list of known nuisances should be given access as needed.
– The Startup Daily

Even the most well orchestrated branding efforts can be sabotaged by a single under trained or inappropriate employee. The right front-line employees are crucial to the authenticity of your brand.

When Possible, Hire Actual Customers

If hiring your customers is not possible, at least hire from the same pool.

People like buying from others that are similar to them. They speak the same language, share the same the same values, and find it easier to make an emotional connection.
– The Startup Daily

An entrepreneur’s success is closely tied to their ability to quickly and efficiently make good decisions. And when it comes to decisions, information is king.

The More Impact a Decision will have on the Business, the More Time You Should Spend Gathering Information

Agonizing over minor purchases is a waste of valuable time. Likewise, decisions that can have a big impact on the future of the business should not be made in haste. Sometimes deciding not to decide until you have gathered more information is the right decision.

The more information you can gather about a decision, the more obvious the right decision will be.
– The Startup Daily