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When bringing a new business, product, or idea to market, you chances of success are much higher if you do not start from scratch.
If you bring a business or idea to market that no one has ever seen, or an idea that may have to completely change someone's way of thinking; look out my friend!.
If you bring a business or idea to market that no one has ever seen, or an idea that may have to completely change someone's way of thinking; look out my friend!.
It is a much better plan to improve just 10% of a current idea or business. Change the parts of a product that frustrate people and make it better. Provide 10% better customer service on a current business. Create a restaurant that's 10% cheaper than the competitors. Create a dictionary that has 10% more words. Create a cell phone company that gets 10% better reception.
With the 10% rule, the chance of success becomes much greater, because people already have a knowledge base with which to compare your product. They can quickly decide whether your idea will work into their lives.
Completely innovative ideas, however fascinating they may be, do not make good business sense. A custom banana sticker maker may be the cat's meow in 10 years, but you don't want to be the first person to develop the idea. Our business world is full of companies where the first inventor was trounced by the companies that made the original idea just 10% better.
Use history as a teacher instead of working against it. 90% of businesses fail in their first five years, and only 1 out of every 100 businesses survive to see their 10th birthday. Your chances of success will be much higher of you seek to improve a current idea by just 10% instead of trying to change someone's lifestyle by 100%.
Consumers are intelligent people with very little time on their hands. If you patronize people by trying to convince them of your latest and greatest idea, they will gladly punish your idea by closing their wallets.
With the 10% rule, the chance of success becomes much greater, because people already have a knowledge base with which to compare your product. They can quickly decide whether your idea will work into their lives.
Completely innovative ideas, however fascinating they may be, do not make good business sense. A custom banana sticker maker may be the cat's meow in 10 years, but you don't want to be the first person to develop the idea. Our business world is full of companies where the first inventor was trounced by the companies that made the original idea just 10% better.
Use history as a teacher instead of working against it. 90% of businesses fail in their first five years, and only 1 out of every 100 businesses survive to see their 10th birthday. Your chances of success will be much higher of you seek to improve a current idea by just 10% instead of trying to change someone's lifestyle by 100%.
Consumers are intelligent people with very little time on their hands. If you patronize people by trying to convince them of your latest and greatest idea, they will gladly punish your idea by closing their wallets.
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