They think they’ve proven enough by building a product and getting some users and firmly believe that with another funding round they can take their company “to the next level”.
The central irony of today’s world is that the internet provides global real-time reach, but it has never been harder to capture people’s mindshare. The market is massive and chaotic.
There is one way to beat the market consistently: deliver real, ever-growing value to your customer (or “user”). It’s that simple.
Think about any product or service that you love. Every one maniacally focuses on you, the customer.
As Bezos writes:
“One thing I love about customers is that they are divinely discontent. People have a voracious appetite for a better way, and yesterday’s ‘wow’ quickly becomes today’s ‘ordinary.’”
This idea sounds obvious, of course, but it is profound and widely applicable.
Sellers and buyers. Doctors and patients. Teachers and students. Elected officials and constituents.
The truth is most of us don’t feed customers’ voracious appetite for a better way. The longer we starve our customers, the quicker they will move on to fertile pastures.