In this hyper-customized, ultra-personalized world in which we live, it is very tempting to build an unique product for each customer in the market you serve. But at what cost?
Any rational businessman sees scaling up an individualized product as folly. There’s a cost, often punitive, of developing a fresh and purposeful product catered for every specific Tom, Joe, Susie and Sally. Your grandiose vision of building a product and scaling it to the masses isn’t as rosy as you thought it might be.
So where is the real money made?
The money to be made revolves around the jobs to be done. It isn’t that your product or service does X, and you’ve dedicated the smartest team to solve X, but it’s critical you’ve uncovered if X is worth solving.
Is X a problem others solve better, cheaper or faster than you? If so, plow a different field.
Is X a problem you can’t solve without drowning your business’ infrastructure (operations and processes)? If so, don’t go a step farther.
The market of one sounds like an abundance of fun, yet if there are no jobs to be done, you’ve got yourself a market of none.
Until next time,