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.)
Recently I had an interaction with someone in a business I own.
Recently we were making a major decision in MedRecruit for a very important leadership role in the recruitment team.
If you go to almost any personal development or business seminar, the presenters will share stories of failure leading to triumph.
It’s not a shop, it’s not online, it’s not Amazon or eBay or Trademe.
Survival isn’t necessary.
Is it meeting specification?
“You don’t choose the life of being an entrepreneur, it chooses you,” is something I found myself saying to a young entrepreneur the other day.
Dissatisfaction is a common state for entrepreneurs.
Fear of failure is a common reason many people don’t start things.
Failure is inevitable.