Companies fail because they fall in love with their own Products

More often than not Teams fall in love with their own Product. Which is good. But for a time. Because the markets and behaviours shift faster than our imagination specially when it comes to consumer products. We all have stopped using Facebook. A product that we all loved at one point. And it was Mark’s genius that he made aggressive and bold bets like Instagram and Whatsapp. Both bets had the potential to disrupt Facebook.

Remember that it’s good to fall in love with your own Products. But for a time. The Product that you built 2 years back might still be generating a lot of revenue for you but you need to keep innovating, keep disrupting your own Product.

And by Product I don’t mean just Product in a technology sense. I mean Content, I mean Traction Channels, I mean Team.

Whether you are handling a Sales Team or you’re producing Content or you’re hiring new folks in your team. You must keep disrupting your own existing Product and Processes. You must not become complacent.

Apple forces itself to reinvent itself every year. I think it’s an innovation hack as much as it is Marketing Genius.

Companies fail because of complacency and satisfaction and because they love their Products for longer than they must.

Love your Product but for a time. Then go and disrupt it. And if you’re the one to disrupt your own Product then you will always be ahead of the curve.