Launching a product or service to capitalise on a gap in the market is straight out of the syllabus of an MBA, it’s business 101. But it rarely works.
Because ‘why’ is missing.
Your ‘why’, your reason for being speaks louder than any marketing message. If you go after a gap in the market purely to capitalise on that, unrelated to your ‘why’ the market generally sees it for what it is, a cynical market play to gain share.
But when you launch a product or service that speaks directly to your ‘why’ the market sees it for what it is, another step towards achieving what you were put here to achieve.
(Check out the new financial services company we have just launched for doctors, MedCapital. My ‘why’ is that I believe that anything’s possible, that any individual or organisation can be exceptional, and that exceptional people change the world. You be the judge on whether this is a big step towards realising the vision I had when I created MedRecruit back in 2006.)
There’s a tendency to gather information, and more information, and more information, indefinitely if a decision is important.
Your next 40 years will be determined by your next ten years.
A mantra I live by in business is, ‘tolerance is the enemy of excellence.’
Functional fixes are not solutions for existential misalignments.
If you’re buying your lunch from someone, what happens if he’s 20cms shorter than you?
It’s almost certain that what’s being agreed isn’t fully understood.
Don’t be a dick.
Five hundred years ago, Michel de Montaigne said: “My life has been filled with terrible misfortune; most of which never happened.”
In tennis, the majority of the game is spent volleying.
I own a wealth management company called MedCapital