Five elements of business success: Difference between revisions
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[[Theory]] > Five elements of business success | [[Theory]] > Five elements of business success | ||
==1 Build products people love== | |||
::* Improves customer retention, makes you their first choice. | ::* Improves customer retention, makes you their first choice. | ||
:::* Build a product or service that sets us above the rest. | :::* Build a product or service that sets us above the rest. | ||
==2 Adoption over monitorization== | |||
::* Let customers have some things for free (try before you buy). | ::* Let customers have some things for free (try before you buy). | ||
::* Once they use it they will love it - see point 1. | ::* Once they use it they will love it - see point 1. | ||
| Line 11: | Line 11: | ||
Done by providing 5 free connections | Done by providing 5 free connections | ||
==3 Cultivate a sustainable competitive advantage== | |||
::* Provide an advantage over competitor products. | ::* Provide an advantage over competitor products. | ||
::* Lock the user into a product using love of the features. | ::* Lock the user into a product using love of the features. | ||
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::::* Employee retention - ''[[The biggest data breach is lost talent]]'' | ::::* Employee retention - ''[[The biggest data breach is lost talent]]'' | ||
==4 Make products simple a clear== | |||
::* Easy to setup, easy to use. | ::* Easy to setup, easy to use. | ||
::* Ensure customer can get value in the first week. | ::* Ensure customer can get value in the first week. | ||
| Line 24: | Line 24: | ||
:::* Try not to produce error messages, when you have to make them clear. | :::* Try not to produce error messages, when you have to make them clear. | ||
==5 Make decisions fast.== | |||
::* Someone (much bigger) will beet you to the goal. | ::* Someone (much bigger) will beet you to the goal. | ||
::* The small guy needs stealth and speed, big companies can make mistakes. | ::* The small guy needs stealth and speed, big companies can make mistakes. | ||
::* Fast decisive moves is the key. | ::* Fast decisive moves is the key. | ||
Revision as of 19:51, 13 October 2025
Theory > Five elements of business success
1 Build products people love
- Improves customer retention, makes you their first choice.
- Build a product or service that sets us above the rest.
2 Adoption over monitorization
- Let customers have some things for free (try before you buy).
- Once they use it they will love it - see point 1.
Done by providing 5 free connections
3 Cultivate a sustainable competitive advantage
- Provide an advantage over competitor products.
- Lock the user into a product using love of the features.
- Keep an advantage with new features the customer will use.
- People are important here
- Employee retention - The biggest data breach is lost talent
4 Make products simple a clear
- Easy to setup, easy to use.
- Ensure customer can get value in the first week.
- Product that don't get used will be dropped if no value is seen.
- Try not to produce error messages, when you have to make them clear.
5 Make decisions fast.
- Someone (much bigger) will beet you to the goal.
- The small guy needs stealth and speed, big companies can make mistakes.
- Fast decisive moves is the key.
