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In the Search for the Next Big Thing
- The search for the next big thing is always a challenge, but keeping an eye on what is just now possible through new technologies can help lead the way.
- Startup teams should be curious about new tech advancements and be able to balance the novelty of what is just now possible against the need for familiarity that customers crave.
- New business models can also be created, not just new technologies, helping companies gain a competitive edge and attract new customers.
- The concept of MAYA, coined by Raymond Loewy, could provide balance - it means creating something that is the most advanced yet acceptable.
- The dilemma between what is possible and familiarity shouldn't be overlooked.
- Product discovery techniques and design tools are essential to help understand customer needs and expectations, as consumer behavior is key to unlocking the next big thing.
- Finding new solutions involves creating a blank canvas of opportunity, then connecting them to the cutting-edge of enabling tech - this takes a strong product team and relentless founders.
- The search for the next big thing is ongoing, and the most successful businesses often rely on teamwork between tech and product teams.
- Being aware of the relevant problems faced by customers is an essential part of unlocking what lies ahead - entrepreneurs should be curious, insightful and focused on the future.
- Creating familiar surprises that help balance existing needs with customers' thirst for the new can help startups and established businesses alike stay ahead of the curve.
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