The Best Image you will See today

[fauche65]

If you have read TMF & Unscripted (and actually got it), you would know that being an Entrepreneur is not about YOU or your desire for wealth. It is about providing VALUE to others (the market), which ultimately translates into wealth. When you focus on what you want, more than what the market WANTS/NEEDS, you will ultimately fail (trust me, I have experience).

You don't need to come up with the next great Cloud Platform, or Social Network, you simply need to solve a large enough problem, and fill a significant gap in the market to be wildly successful. But most of all, it has to be about what your clients or "the market' needs. Once you figure that out, focus on PROVIDING VALUE, AND INSANE CUSTOMER SERVICE!

A friend sent me this image today, and I thought it explains everything perfectly.

 

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[BlakeIC]

If you have read TMF & Unscripted (and actually got it), you would know that being an Entrepreneur is not about YOU or your desire for wealth. It is about providing VALUE to others (the market), which ultimately translates into wealth. When you focus on what you want, more than what the market WANTS/NEEDS, you will ultimately fail (trust me, I have experience).

You don't need to come up with the next great Cloud Platform, or Social Network, you simply need to solve a large enough problem, and fill a significant gap in the market to be wildly successful. But most of all, it has to be about what your clients or "the market' needs. Once you figure that out, focus on PROVIDING VALUE, AND INSANE CUSTOMER SERVICE!

A friend sent me this image today, and I thought it explains everything perfectly.

View attachment 15522

Bump

 

[JAJT]

While I don't agree with the details listed on this photo, I do agree with the general customer-focused sentiment.

For example, retail didn't necessarily ignore customer service - in fact many of them offered FAR SUPERIOR customer service to Amazon, but it turned out that customers valued bigger selections with reviews and better prices over that customer service.

But yeah - it's about figuring out what customers really want, and giving it to them. Even if you are killing it in one area (customer service) it may not be what people care about (price, selection, not having to go out of their homes to buy, etc...)

 

[TonyStark]

This is awesome.

 

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[Lionhearted]

While I don't agree with the details listed on this photo, I do agree with the general customer-focused sentiment.

For example, retail didn't necessarily ignore customer service - in fact many of them offered FAR SUPERIOR customer service to Amazon, but it turned out that customers valued bigger selections with reviews and better prices over that customer service.

But yeah - it's about figuring out what customers really want, and giving it to them. Even if you are killing it in one area (customer service) it may not be what people care about (price, selection, not having to go out of their homes to buy, etc...)

What makes Amazon the "retail killer" is that they have figured out a way to get the customer what they want (products) without the down side of the retail experience. That is the huge "value" they add to the market. If you look at Amazon pricing they are usually higher than most retail shops but here is where they win, they save you huge amounts in time and effort that is the BIGGEST value they bring to the market. It's not just what you get it's just as much what you don't get.

When you buy an item from Amazon here is what you DON'T have to do:
You don't have to get off your butt, pack up the kids into your car, drive down to the mall, park, walk to the mall and through the mall and hunt down the item/items you wish to purchase (which may or may not be in stock), you don't have to find a "sales assistant" to help you find the item you don't have to take the item to a cashier and stand in line while someone stands behind you with a screaming kid who coughs all over you. You don't have to carry the stuff to your car and drive through traffic back to your house and unpack your kids and car.

Just think about how much time you save by going to Amazon, searching for what you want, clicking purchase and having the product show up at your door? To me that is a MASSIVE value added. I ordered a bed from Amazon the amount of time and hassle it saved me was huge and I got a good deal on the bed!
In all the cases where technology has disrupted the status quo you will see a few things, they made getting the product easier, they removed the unpleasant aspects of getting the product or service and they saved you a CRAP LOAD of the most precious resource you have TIME.
If you can bring this kind of value to the market you are guaranteed to be part of the 1%. Save me time and hassle and I will pay for that all day long. Thanks.

 

[ZF Lee]

If you have read TMF & Unscripted (and actually got it), you would know that being an Entrepreneur is not about YOU or your desire for wealth. It is about providing VALUE to others (the market), which ultimately translates into wealth. When you focus on what you want, more than what the market WANTS/NEEDS, you will ultimately fail (trust me, I have experience).

You don't need to come up with the next great Cloud Platform, or Social Network, you simply need to solve a large enough problem, and fill a significant gap in the market to be wildly successful. But most of all, it has to be about what your clients or "the market' needs. Once you figure that out, focus on PROVIDING VALUE, AND INSANE CUSTOMER SERVICE!

A friend sent me this image today, and I thought it explains everything perfectly.

View attachment 15522

send this to the media page on the forum!
@JAJT, at the end of the day, tech is a means to an end, not the end. And in this case, tech is the means to a customer-centric biz.

I didn't really get it until further discussions with some e-commerce guys here.

 

[Red]

Yesterday I ordered two health supplements at 11:30am.

What I did NOT have to do:

Drive 45 min to Whole Foods/Natural Grocers/Sprouts (ok, Sprouts is less than 45 min)
Fruitlessly search for a shady parking space in Dante's Parking Lot
Search the store, guess about quality for the price
Pay a premium -I'm lookin' at you, Whole Foods
Interact with people
Find car, get back in car, burn a$$/hands driving because the oven I drive heated 4x in the 15min I was inside
Drive home

What I DID do:

Google/Amazon
Read reviews
Purchase with 1-click
Wait til 5:30pm (6 hours)


There is just no comparison, especially on a day I'm working from home.



With Amazon, their 'good' is better than Traditional Retail's best & you avoid the negatives entirely. This is why Traditional Retail is doing the death rattle. And I ain't mad about it.

 

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[MJ DeMarco]

Yesterday I ordered two health supplements at 11:30am.

What I did NOT have to do:

Drive 45 min to Whole Foods/Natural Grocers/Sprouts (ok, Sprouts is less than 45 min)
Fruitlessly search for a shady parking space in Dante's Parking Lot
Search the store, guess about quality for the price
Pay a premium -I'm lookin' at you, Whole Foods
Interact with people
Find car, get back in car, burn a$$/hands driving because the oven I drive heated 4x in the 15min I was inside
Drive home

What I DID do:

Google/Amazon
Read reviews
Purchase with 1-click
Wait til 5:30pm (6 hours)


There is just no comparison, especially on a day I'm working from home.
View attachment 15540


With Amazon, their 'good' is better than Traditional Retail's best & you avoid the negatives entirely. This is why Traditional Retail is doing the death rattle. And I ain't mad about it.

You've just described a phenomenal value skew. One or two attribute skews creates a business. Skew all of them and you get yourself a billion dollar empire.

 

[7.62x51]

While I don't agree with the details listed on this photo, I do agree with the general customer-focused sentiment.

For example, retail didn't necessarily ignore customer service - in fact many of them offered FAR SUPERIOR customer service to Amazon, but it turned out that customers valued bigger selections with reviews and better prices over that customer service.

But yeah - it's about figuring out what customers really want, and giving it to them. Even if you are killing it in one area (customer service) it may not be what people care about (price, selection, not having to go out of their homes to buy, etc...)

Every time I have to shop on the website of a retail store, even if it's Wal-Mart, I'm prepared for frustration and disappointment. Most retail stores still don't take their online presence seriously.