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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
How Pirates, Dreamers and Innovators Create and Dominate Markets
Play Bigger (2016) details strategies you can employ to break into any market successfully. Creating a new product isn’t easy but getting people to buy it is even harder. This book shows you how to pick the right market for your product by creating it yourself and making people take notice.
At the beginning of the twentieth century, if you had asked people how personal transportation could be improved, they would have told you to make a faster horse.
Henry Ford, however, imagined an ambitious alternative – the Ford Model T: the first affordable, mass-produced automobile.
Such a game-changing innovation is called a new category.
New categories offer consumers a vision of a new way to live and solutions to problems that few others have even considered.
When you need a taxi, for instance, you often scramble to hail one from the street or search high and low for a taxi stand. Then Uber came along and said, “Why can’t the taxi come to you, no matter where you are or what time of day it is?”
A person who thinks like this, who comes up with game-changing solutions, is called a category king.
Companies can be category kings, too. A company, after all, is the entity that develops the services and products that become essential in our lives. Old ways soon become obsolete, and we wonder how we ever survived before the new category came along.
We often think this way, because it’s only when a category king offers the perfect solution that we realize we had a problem in the first place! To become a category king, you have to not only show people the solution but also show them the problem.
Uber is a perfect example of a category king. Its innovative taxi service was all the more appealing because it highlighted the many flaws of traditional taxi companies.
Before Uber, customers had to track down a cab themselves, guess how much the final ride would cost, and fumble with bills and coins. With Uber, customers can order a cab through a smartphone, get an automatic price estimate, pay by credit card and even track the progress of the cab online!
Everything a company does … should align with the point of view. If the POV is clear and employees buy into it, the company will practically manage itself.
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Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma