“As for the future, your task is not to foresee it, but to enable it”
Antoine de Saint-Expery (author of the “Little Prince”)
Category: Launch
The symmetry of hindsight
We’ve all read the stories about how great start ups and emergent brands got their mojo. In hindsight it always seems so strategic, symmetrical and single minded.
This issue is hindsight. It will be something single minded and symmetrical that works. The problem is this: If we’re single minded from the start, and we get it wrong where does that leave us?
An old Chinese fishing proverb applies here: Cast the net wide.
Try everything.
Try everything quickly.
Find something that works.
Then stick to it in a single minded fashion.
Contrary to most modern marketing and entrepreneurial theories, we need to ‘get single minded, not start single minded.’
We never read about the 100 things any hero brand tried and failed with, only the winning strategy. So it all seems so perfect and well thought out. The truth is, most of the strategic wisdom arrives in hindsight. The more things we try, that greater probability we have of stumbling upon the right strategy – the one that works. But we should never fall in love with the plan before we commence.
It will all seem very strategic, symmetrical and single minded in hindsight.
Permission marketing in action
I recently spoke about newspapers being a good forum for simple permission marketing.
We’ve just done exactly this for our start up rentoid. We approached the local western district newspaper called “the Leader” and discussed the community and environmental benefits of the rentoid service.
It worked and the article can be seen here.
The other reasons we started with a small newspaper is it’s in line with our clustering strategy and it gives us experience before we approach larger circulation media.
Consumer benefits
Marketing expert Ben Rowe was ahead of his time on the Gillette Fusion launch, as can be seen here.
The jury’s in. For the first time in their illustrious history, Gillettes latest innovation hasn’t become their best seller. Gillette Fusion 5 blade razor launch has failed for two reasons. I speak with authority as a former employee at Gillette.
Reason 1: We don’t have a shaving problem
Reason 2: Innovation and research are not consumer benefits
Reason 1 details:
The Gillette Mach 3 and its various spin offs have made shaving about as good as it can get given we are running a sharp blade across our faces. We no longer have a shaving problem. It’s smooth, safe and comfortable. They’re trying to fix something that doesn’t need fixed. In this situation very few people will trade up, before we even consider the price premium they’re asking.
Reason 2 details:
8 years of shaving innovation and research doesn’t translate into an actual consumer benefit. It’s a diary, not a benefit. They’ve even placed stickers on other Gillette shaving products trying to convince consumers to switch. We won’t.
In the early days the Gillette strategy of obseleting themselves was a good one, but no strategy works forever, and there is always a point of diminishing returns. Seems Gillette has reached theirs.
Start up lesson: If your innovation doesn’t solve a problem or significantly improve the consumer experience, you haven’t got one.
Two important words
Here’s two important words for start ups:
Follow up.
Feel free to add comments.
Keeping promises
We’ve recently challenged ourselves at rentoid as part of our clustering strategy. We promised our members in ‘Melbourne Australia’ that rentoid has ‘anything’ they could possibly want to rent. Especially given our moniker for Rentoid is “the place to rent anything”. The promise can be seen here.
Some may think this is crazy. The fact is we couldn’t possibly have everything available for rent. But that’s where the depth of idea is:
Here are the possible outcomes:
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People search Melbourne and see the depth of items for rent.
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They may find what they need, or not.
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If they don’t, we have promised to find what they need.
(unless they ask for something like elephant tusks!)
We’ll find what they need by asking other members if they have it, or we’ll find it through other means. In short we’ll keep our promise. We’ll find them what they need.
The idea ensures we stretch ourselves to serve our customers and it gives us an authentic way to create a positive customer experience. Which we hope they’ll talk about.
If you’re in Melbourne, test us!
Risk – repost
The post below is from the early days of startup blog. For those who’ve already read it, it’s a good reminder. For those who haven’t it’s worth considering.
If you’re reading this blog and not involved in your own business, stop for a second and ask your self why?
You’re obviously interested in entrepreneurship, marketing and small ‘start up’ business. You’re smart and capable.
But we’re Risk Averse. All of us. But isn’t risk relative? Isn’t risk relative to what we have to lose? Maybe we should reconsider what we ‘could’ lose.
Are we risking:
- Our Health?
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Going Hungry?
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Shelter?
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Access to medical services?
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Our Education?
The fact that we’re on the internet tells us it’s none of the above.
Maybe we’re only risking ‘Status’. Maybe we’re only risking ‘Title’ and ‘Conspicuous Consumption’.
What is our true assessment of the risk? Is starting a business really that risky?