Entrepreneurs all like to believe that their products are amazing. And to a degree, they have to. You can’t run a business enthusiastically if you think you’re selling complete crap to suckers willing to pay for it. That’s no way to motivate yourself to get out of bed in the morning.
Positive bias is generally a good thing for business leaders. But they also need to keep tabs on reality from time to time. Something you’ve created might not be irredeemable, but it is unlikely to be perfect. That’s just impossible.
In this post, we’re going to look at the real reasons your products suck. Brace yourself.
You’re Riding On Past Successes
Most amazing products only stay top of the pack for a year or two at the most. Before long, somebody comes along offering something better, and you lose competitiveness. It’s just the way that the market works – and it’s a good thing overall.
Problems occur, though, when you don’t pay attention to these changes. Worse still, firms can come to believe that they are the best and get complacent. Just look at what’s happened to Intel over the last three years. In 2016, the chipmaker looked unbeatable. Now it’s flagging badly.
Past successes are, unfortunately, not a good predictor of future competence. The discipline of business is to remain self-critical over the long haul and never to let victories lead to complacency.
Your Packaging Leaves A Lot To Be Desired
Okay – you’ve got a great product. That’s good news. But if the packaging sucks, then you’re in for a rude awakening. Remember, most consumers are buying the image of a product – not the actual object itself. So what it looks like when it arrives plays a big part in making your company a success.
Brands in the industry of making packaging, including Plastic Packaging Technologies, talk about the importance of superior graphics and sanitary production. You need both of these, plus products that feel good to the touch too. All the little details play an important role in making your products something consumers will want to purchase over and over again.
You Don’t Ask For Help
Developing products is a team effort, not something companies can do in-house. Often they need to ask for help from a variety of people, including consultants, prospective customers and even the research community.
Not knowing how to do something is okay – as long as you figure it out eventually. Set aside some of your resources for buying in assistance as and when you need it.
You’re Not Listening To Feedback
With digital innovations such as online reviews, it’s easier than ever to get feedback on your products. Unfortunately, a lot of companies are ignoring these or simply have no idea that they exist. Just take a look at the review sections on ecommerce platforms like Amazon. Sellers rarely respond to critical reviews, if ever, indicating that they’re not using them actively.
Pay attention to what your customers say. It’ll give you a template for your future R&D.