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Watch what they do, not what they say Watching what your customers are doing — or trying to do — with your product can light the way forward. But you… - Reid Hoffman
" "Watch what they do, not what they say Watching what your customers are doing — or trying to do — with your product can light the way forward. But you have to be careful to pay attention to what they do and not just what they say. Expect to have your theories of human behavior tested Your theory about how individuals and groups behave should underlie your strategy, your product design, your incentive program — every decision you make. But be open and alert to when your customers show you a different theory or direction. That could become your product’s point of differentiation. Follow the leaders: Your customers To grow your business, you may have to give up control. Look for instances when your customers hack or hijack your product, and then go along for the ride. Get Mr. Spock and Dr. McCoy working together Customer data is your Mr. Spock, detached and logical. Customer emotion is your Dr. McCoy, passionate and all too human. Think of yourself as Captain Kirk, responsible for making the two work together to get the best out of each.
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Reid Garrett Hoffman
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Reid G. Hoffman
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Part of the journey that we entrepreneurs are on is learning how to separate our winning instincts from our losing ideas. I think, as a rule of thumb, if you’re a good entrepreneur you can assume that your instincts are right 95 percent of the time and your ideas might be right 25 percent of the time.
Craig Newmark simply started e-mailing his friends about local events in 1995; almost twenty-two years later, network effects have kept Craigslist a dominant player in online classifieds despite operating with a skeleton crew and making seemingly no changes to the website design during that entire period! This is where an emphasis on speed also plays an important role. Because Silicon Valley’s entrepreneurs focus on designing business models that can get big fast, they are more likely to incorporate network effects. And because the fierce local competition forces start-ups to grow so aggressively (i.e., blitzscale), Silicon Valley start-ups are more likely to reach the tipping point of network effects before start-ups from less aggressive geographies. One of the motivations for this book is to help entrepreneurs from around the world emulate these successes by teaching them how to systematically design their businesses for blitzscaling. When you design your business model to leverage network effects, you can succeed anywhere.
You should want your employees to be discoverable by the outside world in a professional context. They’re discoverable anyway, thanks to Google and social networks like Facebook, Twitter, and LinkedIn, so you should incentivize them to craft their presence in a way that’s maximally helpful to the company.
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