No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market.
Sentiment: NEGATIVE
I can't imagine that companies are uninteresting if they don't have a billion users. But I do believe, to have mass scale, you have to be in the many-hundreds-of-millions-of-users range, and there are not that many companies that get there.
In some markets, we don't have a lot of room to expand. We've done studies of store density and essentially found our more dense markets have more than one store per 15,000 people.
We don't market products narrowly. We market big stories about the industry, things that matter to a lot of people.
Markets work when people can evaluate the prices and risks of different products, then pick the ones that work best for them. But when the terms of the deal are hidden, competition doesn't work. And customers aren't the only ones who are hurt.
When the product is right, you don't have to be a great marketer.
Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.
Most entrepreneurs don't need as many customers as they think. A lot of people think 10 is too few for a sample. But if all 10 refused a product, why is that not enough? If you want 100, 1,000 or a million customers, you first have to get 10.
The distributor used to get 10, 12, 14 percent in most cases, but the App Store or Steam - they're taking 30 points. So clearly, they're viewing what they bring to the table in the digital environment to be more valuable than distribution.
Wealth won't give you satisfaction; creating a good product that's well received by users is what matters most.
Being able to compete for consumers' attention and dollars over the preciousness of access is a thing of the past. Everyone is using the Internet to globally market a product.