Ally: Most of us are super afraid of competition. We see competition in a space and just assume, well, everyone elses is or other people are doing it, so i'm not needed. The reason behind that is basic market economics of supply and demand. It's if there's a real market opportunity, you are not going to be the only person that identifies it. Other people will identify it and start moving towards it. So focus on how you uniquely are differentiating to solve that problem,. And do it in a way that serves customers better than everybody else.
There’s a myth that says it takes dozens of bad product ideas to uncover one good one. The problem is, that means you’re sending revenue down the drain. In part five of our seven part series, How Your Business is an Airplane, we’re focusing on the wings of the airplane – or your product. You don’t have to waste any more time creating dead-end products. Do these two things and you'll knock your product ideas out of the park the first time.
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