What we want to talk about today is how to win the ideas race. There’s this idea that the first to the market wins. Well, Google was, I believe, was 11th to the market on search engines. So being first does not always guarantee a win. I’m going to share with you five things that you better have with your idea.
Execute Faster
Let’s say we have two ideas that are coming out. Who gets to win the race? Well, if you do execute faster, you get the first position in the marketplace, the first position in the minds of your audience. An example of that would be the original Mustang by Ford. It got launched in front of the camera, months before the Camaro. This was like the first family sports car.
The Camaro has never caught up or come close. Being first to the marketplace is valuable, there’s no question about it, but it’s not absolute. Because I just shared with you Google.
So how do you win when you’re not first to the market with your idea?
Have a BETTER Idea
Imagine two ideas. Yours is first. Another one comes out second, but the one that came out second improved on everything that you’re lax on. Who wins? Idea Number Two. That’s Google. The idea is just better. Apple did not come out with the first MP3 player, not even close. The iPod was just better. Apple did not come out with the first cellphone, not even close. Remember the Nokias and the Blackberries and all these? Not even close. Apple was just better.
Keep the Future in Mind
I think This is what Apple does really well. They think 10 years down the road. Their products are already down and around the corner! Their stuff never looks old and outdated. That’s how I feel when I get in my cars, like my BMWs. BMW thinks 10 years down the road. That car is built for the next decade. You buy a really nice car and it’s already thought through 10 years down the road.
So if you want your idea to win the race, you need to think down 10 years down the road regarding your product, your service, and your industry.
Get Feedback and Adjust
Get potential customer feedback early on and adjust and keep adjusting. Another thing I really could just call this the Apple lesson. What are they on now? The iPhone 12? Their stuff doesn’t come out perfect, but it comes out really good. They get your feedback and they make a change and you pay them to make those changes. So if you have an idea and it’s first to the market, that is great. But if it gets to the market first and it’s just an ok idea, what are you going to do now? You gotta get customer feedback quickly, and then you gotta make necessary adjustments. That is how you win the idea race. Keep getting customer feedback and make adjustments.
Marketing Always Wins the Race
All these four things can be equal and marketing ends up winning the race. Apple is great at this. Steve Jobs was the PT Barnum of technology. The black turtle neck, and then he had the iPhone in his pocket and he pulled it out and said his entire song collection was in it. When he brought out the MacBook Air, he had it in the manila folder because it was so thin. It was the ultimate presentation.
Do you have a message that’s so catchy that it sticks in the mind of your customer and they don’t ever lose it?
Marketing will always win the idea race, assuming you just don’t bring just an absolutely horrible product. I’m assuming you bring something somewhat decent to the marketplace, brand it, and scream about it from the mountain tops.
So how do you win the idea race again?
- You can execute faster. Speed to market.
- You make your ideas better. You just absolutely have a better product than the first person out.
- Think 10 years down the road. What is my customer going to want 10 years from now?
- You get customer feedback early on and you make adjustments and you keep adjusting.
- Marketing always wins the race. Brand it, have great messaging, and relentlessly beat that drum and don’t stop beating it. Never let up. Smother your opponent and don’t let them up for air. That’s my philosophy and marketing
