While some businesses are revolutionary, most are evolutionary. Someone has likely already been successful doing something similar with a different product or in a different market.
This is a good thing. It means your model is proven and it gives you a shortcut to explain what you are doing to others. When you say you are creating “The TOMS of Bottled Water”, anyone who is familiar with that company will instantly understand what you are trying to do.
Describing Your Company as “The (This) of (That)” Can Help Clarify Your Strategy to Others
When pitching to investors, using an analog gives the investor confidence that there is a proven roadmap for the business to follow. For the entrepreneur, researching these analogs can help uncover opportunities to pursue and pitfalls to avoid.
– The Startup Daily
The folks at Method have turned this 80′s role model for resourcefulness into a mascot for doing more with less.
When You Are Small and Scrappy, You Have to Find Creative Solutions with the Resources Available Right Now
The combination of creativity and a can-do attitude can help you tackle seemingly unsolvable problems and stand up to competitors with far deeper pockets. Find your inner MacGyver, and don’t let the lack of resources get in your way.
– The Startup Daily
The world is changing fast and technology even faster. Don’t get blinded to major changes happening in the marketplace because you are hyper-focused on developing your product—a product that is designed to compete in the market as it existed when development started.
When Undertaking a Major Development Project, Don’t Forget to Come up for Air
It’s better to cut your losses halfway through a project and start again than it is to develop to completion a product that is no longer relevant.
– The Startup Daily
The world is changing fast and technology even faster. Don’t get blinded to major changes happening in the marketplace because you are hyper-focused on developing your product—a product that is designed to compete in the market as it existed when development started.
When Undertaking a Major Development Project, Don’t Forget to Come up for Air
It’s better to cut your losses halfway through a project and start again than it is to develop to completion a product that is no longer relevant.
– The Startup Daily
When solving problems or making changes, people often attempt to create the most sustainable solution possible. But nothing is permanent. Finding and implementing a permanent solution is not always a good use of resources.
Don’t Be Afraid to Use Quick, Temporary Solutions
Both the problem and the solution are likely to evolve over time. Solving the problem quickly is often more important than creating a sustainable solution.
– The Startup Daily
When solving problems or making changes, people often attempt to create the most sustainable solution possible. But nothing is permanent. Finding and implementing a permanent solution is not always a good use of resources.
Don’t Be Afraid to Use Quick, Temporary Solutions
Both the problem and the solution are likely to evolve over time. Solving the problem quickly is often more important than creating a sustainable solution.
– The Startup Daily
When solving problems or making changes, people often attempt to create the most sustainable solution possible. But nothing is permanent. Finding and implementing a permanent solution is not always a good use of resources.
Don’t Be Afraid to Use Quick, Temporary Solutions
Both the problem and the solution are likely to evolve over time. Solving the problem quickly is often more important than creating a sustainable solution.
– The Startup Daily
When solving problems or making changes, people often attempt to create the most sustainable solution possible. But nothing is permanent. Finding and implementing a permanent solution is not always a good use of resources.
Don’t Be Afraid to Use Quick, Temporary Solutions
Both the problem and the solution are likely to evolve over time. Solving the problem quickly is often more important than creating a sustainable solution.
– The Startup Daily
At times we are too smart for our own good. We attempt add value to situations by adding unnecessary complexity. This can be a great way to demonstrate our intelligence, but it’s rarely the best solution to the problem.
Complicating a Situation Doesn’t Usually Make it Better
When things seem to be getting too complicated, cut through the fog by bringing things back to the most basic functionality and obvious facts.
– The Startup Daily
Most marketing budgets are spent almost entirely on the acquisition of new customers. Meanwhile, the costs associated with serving existing customers are squeezed.
The result is that once a customer commits, their level of service drops significantly. Promises made during the sale are not kept, and trust is eroded.
In Most Businesses, the Majority of Revenue Comes from Return Customers
Yet the employees that interact directly with those customers, and have the greatest impact on the customer’s experience, are often the lowest paid and least trained.
Investing in improving the experience of existing customers pays better dividends than investing in acquiring new customers.
– The Startup Daily