AI and machine learning
I see countless startup pitches each year. I am continuously evaluating companies, brand new incumbents along with my competition. I live and breathe the artwork of business, and if there is one thing I find emerging, it's that convenience is king.
In a market of distraction, the business's, products and services which may help save you TIME, are going to win. That is exactly why Amazon is a industry leader. That is the reason why Prime Currently wins. They've simplified the procedure for buying and selling. They've saved you tremendous amounts of time.
which is the big buzz phrase of the second, is an increasingly important technology as it saves you time. It can automate and learn procedures which would have taken considerably longer.
Virtual assistants save you time. Google Today and Siri save you time. Text messages save you time. Double clicking on a photograph to like it and admit someone saves you time. Emoji's save you time. Misspelling something on goal and having auto-correct saves you time. Abbreviations save you time.
So this is important since it's the one commodity you can not get more of. It's why we as people will do anything to buy it. It's the reason why we select the 24 Uber instead of walking. It's the reason why we pay $7 additional for delivery. It's all about time.
Therefore I have been hosting a variety of dinners recently with a few close friends and powerful entrepreneurs and executives also it's a conversation I have been having a great deal. If you're able to simplify a present market, merchandise or experience, you get a true opportunity to provide value to the end customer.
No one cares about specifications and amounts and horsepower anymore. Individuals literally desire cars to drive themselves!! They need independence and simplicity and SPEED.
It's one of the biggest market benefits you can possibly produce. It's the reason why they've won.
Therefore, if you are startup or business operating in the CPG or customer area, or you're launching a brand new business, product or service, you ought to be considering how it is possible to save people time. How can your product, your business, or you also service expedite a industry experience that was tedious and tiresome for everybody?
If you're able to achieve this, and implement, you're going to have a really fantastic chance.
It's the identical thesis about why I'm so bullish on voice. Audio saves you time. Unlike video it's possible to consume multiple kinds of media at the same time.
With the ever increasing worth of speed, I am starting to find customers substitute entertainment (music) with information (podcasting) to get forward. The evidence is in the behavior.
With video you can not do both. It requires all of your attention to consume this content that the second it begins.
The same is true for Alexa skills.
I mean, if you are a 4 year old who knows how to look for the videos you need on Youtube Kids. . Why ever learn how to read?
It's only the reality. Therefore, if you're trying to make a competitive edge, you really ought to begin thinking about SPEED and CONVENIENCE since the 2 things which will allow you to succeed.
And more importantly, guarantee that the end user perceives that additional convenience or speed you provide.
I simply believe a good deal of merchandise spend too much time thinking about whether or not their shaving razor manage is 5.25 inches or 5.325 instead focusing to the end user which was obtained by convenience and also companies like Dollar Shave.
And that is really it. I am hoping this post provides some worth. It's been in my mind for a while.