3 Reasons Products Fail
In many ways, products are are a subset of the company and usually define the company’s success and failure. When you pull the covers back and study products that failed, you can see trends that are the same whether they were with big companies (Edsel, Lisa, etc) or the smallest bootstrap start-up. Here are the 3 reasons products fail:
1. Flawed Market Orientation
(a) The product does not solve the customer’s core problem
(b) The product is positioned incorrectly so that the wrong customers buy it
(c) The wrong channel or support is provided for the product
2. Flawed Market Sensing
(a) Incorrectly captured, anecdotal, not correlated, incomplete
(b) Tribal knowledge reliant, Ad hoc
3. Lack of Performance Metrics
(a) No instrumentation and established KPIs
(b) Lack of objective and external validation
(c) No End-to-End, integrated process
About Rick Jackson
Rick is a Dallas based serial entrepreneur that has successfully pioneered and commercialized new, disruptive technology into emerging markets such as distance learning, outsourcing, cyber security, audio/video broadcasting, healthcare email encryption, and education institutions document management. He has 25+ years in building, leading, and deploying "market maker" sales teams for companies such as EDS, Broadcast.com, Yahoo!, McAfee/Intel, Zix, and Biz Accelerator.
Rick is the founder of Biz Accelerator that helps young companies find a market and generate new sales. He serves as a mentor at the Dallas Entrepreneur Center, the United Way Ground Floor incubator, and teaches Entrepreneurial courses for the SMU professional and continuing education school.
He serves on advisory boards for Roma Boots, nGame, Armor, YellowFolder, Medibookr, Zencash, and NoiseAware.
Founder, CEO and Chief Accelerator