The most important thing to avoid in your business is creating a product no one wants. It may seem obvious, but it’s overlooked.
You can have the greatest advertisements, the greatest team, the greatest customer service, but if you do not have a product that people care about, none of it matters.
Color hired a very smart team of engineers to create an app that allowed people to take photos in addition to viewing other photos also taken in the vicinity. One giant problem: nobody cared. $41 million dollars of funding could not save them.
Remember the XFL, the alternate football league created by wrestling entrepreneur Vince McMahon which tried to displace the NFL? Despite all the hype, money, and marginal extra intensity, nobody cared.
While it’s still a bit early to call, even Jay-Z cannot save a doomed product, Tidal, to best Spotify.
These people are all well funded. They have huge platforms to spread their message. They have amazing talent. And still failed!
As Ryan points out, time and time again, it’s the work, the product, the art that matters. It may be a slow rise depending on how well the work is marketed, but eventually the truly good work tends to rise to the top.