from em I be shocked and i hope i
pronounced that okay does the idea
really matter or the way you market it
hey that’s a great question um I think
the idea matters but more importantly
it’s kind of the relentless execution
started with what is the value
proposition and then go to market with
it and again with the digital age you
can get stuff out there in weeks they
used to take years a good example
actually the shift in terms of market
and I Dukes you probably saw the film
joy jailer law and with joy Mangano in
terms of what happened there was what
was a mock company I used her life
savings actually seventy percent of our
customers use their life savings to fund
their businesses but there was a pivotal
moment when it just was not moving i
don’t know it was like on QVC where we
just couldn’t get any sales away and she
she was going to get dropped as a
product on that channel and she
persuaded them to give her the
opportunity to pitch her own product and
like within the next 20 minutes they
sold 18,000 mops so just a product
matter the idea it was a great idea but
the sales and marketing was awesome and
you know you can market your product
better than anybody else and the
internet is a channel and youtube and
you know vines gives you a unique
opportunity to market your product
hopefully so that lady after 10 years
and sold 200 million dollars worth of
moths and you probably wouldn’t think
there’s a lot of innovation in the world
of mott but boy oh boy a hat tip and a
salute to joy it’s a lot of marks uh
yeah you know for me this is it’s both
right you need the idea and you need the
marketing it if you were marketing a bad
idea it’s not going to take off right
especially in this area where word of
mouth is so fast and people can talk
about how bad your product is the best
market in the world won’t save a
terrible product the idea is also
important because if you have crappy
marketing then it’s not going to take
off either so you need both I think also
I Steven talked with the execution the
the creation of the product because a
lot of people have an idea but they
don’t actually then create that product
or create that service and just sits
there then we’ll one day I’m going to do
this one day I’m going to start and then
never actually start and so the
execution of actually creating the prior
to creating the service and then marking
it is both right it’s not just one or
the other you need to have both if
you’re going to have success as
entrepreneur yeah it interests me on
today you know in terms of today I don’t
think it’s just where you have the idea
but I’d say now if you got first mover
advantage you can create a marketplace
sometimes maybe 10 15 years ago if you
had first movement vantage you’d find
your idea was too early for the
marketplace and then one of the big guys
would steal the idea and scale up and
you’d sit there thinking I had that idea
and they build a business out of that
today I think through the digital age
you can get an idea to market really
quickly and you can scale it up evolve
it improve it and build a really
scalable successful business
pronounced that okay does the idea
really matter or the way you market it
hey that’s a great question um I think
the idea matters but more importantly
it’s kind of the relentless execution
started with what is the value
proposition and then go to market with
it and again with the digital age you
can get stuff out there in weeks they
used to take years a good example
actually the shift in terms of market
and I Dukes you probably saw the film
joy jailer law and with joy Mangano in
terms of what happened there was what
was a mock company I used her life
savings actually seventy percent of our
customers use their life savings to fund
their businesses but there was a pivotal
moment when it just was not moving i
don’t know it was like on QVC where we
just couldn’t get any sales away and she
she was going to get dropped as a
product on that channel and she
persuaded them to give her the
opportunity to pitch her own product and
like within the next 20 minutes they
sold 18,000 mops so just a product
matter the idea it was a great idea but
the sales and marketing was awesome and
you know you can market your product
better than anybody else and the
internet is a channel and youtube and
you know vines gives you a unique
opportunity to market your product
hopefully so that lady after 10 years
and sold 200 million dollars worth of
moths and you probably wouldn’t think
there’s a lot of innovation in the world
of mott but boy oh boy a hat tip and a
salute to joy it’s a lot of marks uh
yeah you know for me this is it’s both
right you need the idea and you need the
marketing it if you were marketing a bad
idea it’s not going to take off right
especially in this area where word of
mouth is so fast and people can talk
about how bad your product is the best
market in the world won’t save a
terrible product the idea is also
important because if you have crappy
marketing then it’s not going to take
off either so you need both I think also
I Steven talked with the execution the
the creation of the product because a
lot of people have an idea but they
don’t actually then create that product
or create that service and just sits
there then we’ll one day I’m going to do
this one day I’m going to start and then
never actually start and so the
execution of actually creating the prior
to creating the service and then marking
it is both right it’s not just one or
the other you need to have both if
you’re going to have success as
entrepreneur yeah it interests me on
today you know in terms of today I don’t
think it’s just where you have the idea
but I’d say now if you got first mover
advantage you can create a marketplace
sometimes maybe 10 15 years ago if you
had first movement vantage you’d find
your idea was too early for the
marketplace and then one of the big guys
would steal the idea and scale up and
you’d sit there thinking I had that idea
and they build a business out of that
today I think through the digital age
you can get an idea to market really
quickly and you can scale it up evolve
it improve it and build a really
scalable successful business
Please follow and like us: