Business success is a function of:
how much demand there is for what you’re selling
how much of that demand you can capture and satisfy
how much it costs you to capture that demand and create customer satisfaction
how repeatable the whole process is
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To determine how much demand you can capture, ask:
- what unfair advantage do you have in this category?
- what unfair advantage do you have when it comes to distribution?
- what will cause people to switch to your product?
- what product gaps do you see?Pokaż ten wątek -
Keep in mind, you can’t just capture demand; you also have to satisfy it.
You’ll need strong product instincts and skills for:
- building features people want to use
- developing an overall experience that keeps people coming back
- helping customers make consistent progressPokaż ten wątek -
Evaluate how much it costs you to:
1. Capture customer demand
2. Create experiences that keep customers happy
Keep costs as low as possible.
You want healthy margins for your time, energy, and profit.https://justinjackson.ca/costs Pokaż ten wątek -
In business, customer acquisition & retention needs to be repeatable at a scale that supports your desired outcome.
“Software is all about volume.” – @ianlandsman You’ll need a steady flow of new customers + existing customers who show up consistently.Pokaż ten wątek
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