Have You Developed New Products/brands That Transcend All Rivals In The Market?

- Jul 31, 2019-

Many entrepreneurs always have good ideas about products/brands, surpassing competitors in the market, so they have developed new products/brands! This is really a good idea, but the composition of the product is actually a complex giant system. This product is just the tip of the iceberg of the system. If we dig deeper, we must understand at least these three things:


1. Does this idea meet market needs?


2. Is it an individual or a team?


3. Have enough money to achieve


If you understand these three things, you can start.


Under normal circumstances, the factory or dealer's view of the new product/brand actually stays in Platonic fantasy, hoping to develop a pair of glasses, a complete pottery at the time of listing; or register a brand to make one or two brands. Launched, looking for a few stars to use the portrait rights endorsement, the value of the brand will surge. This is a common misconception in the eyewear industry.


In order to develop new products/brands that have not yet been market-proven, the risks are much higher than mature products/brands. Without absolute certainty, it should be ensured that the first product/brand that is recognized by the market is safe. As a brand in the apparel industry, ZARA has secondary development capabilities. This development is called reference rather than innovation. Although there are criticisms in different fields, it is undeniable that this is a very safe and effective way of working. Does not affect Amancio Ortega (the president of the ZARA parent company Inditex Group) to become the world's richest man. His success also applies to the eyewear industry.


The value of the team includes the value of the talent and the value of the system. Just like Kai-Fu Lee said: A friend started a business and went looking for a cow. It took a month and a half to take care of him and finally dig the man. It took another 45 days to convince this person and give him good treatment, such as partner status and fairness. Later, the man developed more than one year of technology in other companies. These three months of hard work have outperformed others for five years. This is the embodiment of the value of talent. For example, brand operations, training, and design in the optical industry are positions with their own talent value. If you happen to be such a cow, then you can start a business. If not, then you must learn to manage talent and build an effective management system. This can also be successful. If you don't have both, you should think twice.


Although in the process of starting a business, people tend to have the ability to repair themselves, that is, the goal becomes clear from the uncertainty, and the method becomes clear from the confusion. However, why the failure rate of entrepreneurship is still so large, because most of the reasons can not persist, and can not persist. Usually there is a lack of funds. This phenomenon is most obvious in the Internet industry, and the difficulty in financing the expansion of chain optical stores is also one of its performances.


The biggest change in entrepreneurship is change. The surface is the competition of the product. In fact, this is the competition of strategy, talent and capital. Entrepreneurship is to find its own model in uncertainty to achieve its goals.