Saturday, December 28, 2013

Human Crash Test Dummies

Not every idea is a good idea. Some are just plain stupid. Others need refining. But there are a few that are brilliant. They change culture. They shape history. They endure.

Most of the best ideas seem so obvious, they leave people asking themselves, “Why didn’t I think of that?” The truth is you might have thought of it first, and made the mistake of seeking the opinion of someone who told you it would never work, or you may have lacked the conviction to pursue it.


Take the history of flight for example, I’m sure it wasn’t too difficult to see a bird gracefully soaring through the sky and think; “It would be great if we could fly like that.” The next step is critical. There are some who would craft a pair of wings, attach feathers and jump off a cliff. They most likely died. They are what I like to call human crash test dummies. Their goal is to be first, at all costs. Others like DaVinci thought about it, but never strapped on a pair of wings.

In business, perception is more important than fact. You don’t have to be first to market to be successful, but you want to own mindshare. Let’s play a game. After the Wright Brothers’ historic flight, who broke their record? I don’t know either. OK, let’s try this one. What is the name of the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined? Did you guess Boeing? Good.

I’m sure most people throughout time said, “We are not birds. We will never fly.” Fortunately they were wrong too. Some great ideas just need the right timing to be successful. Learn from the dummies that tried and failed. The Wright Brothers learned and even succeeded in their quest to fly. But the good news is their success was not the end. It was only the beginning.


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THE BOTTOM LINE:

Principal 1: Perception in the market is more important than being first.

Principal 2: There is a difference between a fad and a trend. Pursue the trend.

Principal 3: Market timing is critical to the success of your business. If you are too early or too late, you may fail even if the idea is good.