Very few businesses can grow and succeed today by simply creating a new kind of commodity that is great, made cheaply, and ensured to be of high quality.
The reason is because it is no longer difficult for any business to create stuff that is great.
What’s difficult for businesses to do however is deciding what’s worth creating and then figuring out how to tell a great story around that in order to differentiate themselves.
The reason most businesses are struggling to earn a profit is because they think their only responsibility is to create great products at a low cost. Because they only focus on what they create, they fail.
But creating stuff people want to buy just isn’t enough anymore. Instead, you have to learn to create relationships and tell stories centered around what you’ve created.
The businesses that will continue to be around in the future will be the businesses that realize that creating great products with a great story is more important and more profitable than just trying to create something that is just a little bit better than what everyone else is creating.
The businesses that succeed will be the businesses that figure this out.