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Why You Need to Listen to ALL of the Feedback From the Market
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Polaroid was a very early success story of high-tech in America. When it came to photography, Polaroid developed a dramatically different experience from the next best option at the time, which included taking photos and storing them on reels of film only for them to be developed days or weeks later. With a Polaroid camera, you could…
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What the Chernobyl Disaster Can Teach Us About Building a Great Product
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Less than two months before the nuclear disaster at Chernobyl, the Ukrainian Minister of Power proclaimed that odds of such an event happening were 1 in 10,000. Experts believed that such an event wasn’t possible. Clearly they were wrong. To build a successful product business, you must become an expert in all things industry related.…
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How Sunk Costs Can Sink Your Product Business
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You are in charge of developing a new type of car. The project will cost $5 million dollars to develop. After you’ve spent $4 million dollars and made 80% of the progress, news comes out that a better car has just been brought to market, rendering your car all but obsolete. What do you do at this…
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