Product stability actually means that the user data in all aspects is maintained on a relatively stable curve, that is, we occupy a stable market in this field. It is either a three-legged relationship, two companies are divided or one is dominant. Stability does not mean long-term placeholding, or in high grounds you cannot see or depressions you do not pay attention to, there are always some ambitious people who want to annex you.
Consumption upgrades, grasping users' personalized demands, opening up new markets, improving product quality, and product diversity, improving services, and more considerate user experience, creating high value for money for consumers, which has just been popular with consumers. The sharing economy relies on the frequency of demand, is user-centered, and is innovative in the conventional leasing model. It is based on low cost and high efficiency, allowing users to enjoy super cost-effective leasing value, which has just been favored by the market.
New retail, autonomous driving, AI education, virtual currency, blockchain, etc., these emerging new terms may be the high ground that cannot be seen or reached for many traditional offline companies or traditional Internet companies. Pinduoduo relies on low prices and seizes WeChat dividends, relying on WeChat sharing and community relations as a starting point. In less than three years, GMV will reach 40 billion, while JD.com only took 6 years to achieve 10 billion. During the Spring Festival in 2018, the one that discussed the most in the Hangzhou business circle was Pinduoduo. As of March 19, 2018, Taobao specially launched the Taobao special price version, with the purpose of blocking Pinduoduo, a dark horse that broke into the territory. Pinduoduo did not attract the attention of Taobao or JD.com at the beginning. Perhaps it was the inconspicuous grasshopper in the depression.
But the stability stage of products seems to be only arranged into the life track of some successful companies.
Most startups may not have such a day, but they will still experience small stability during their growth, which is a hurdle that startups must face. When this small stability comes, it may have the following impact on the company.
1) It is difficult to increase returns, or returns stagnate and decline;
2) Team members have reduced their workload, difficulty in implementing targeted management, and an overly idle working environment will somewhat lead to inefficiency and disintegration of people;
3) It is difficult for users to maintain more growth or cause churn;
4) The finalized external cooperation plan may be delayed or cooperation opportunities will be lost;
5) Being far behind by competitors.
The long-term sustainability of small stability may make startups more and more affected. The meaning of the existence of startups is to start a business. Continuously creating more profits is to grow. But small stability also has its own characteristics. For example, the channel relationship that promotes company revenue is channel relationship. Even if the product is poor, the channel relationship is strong and can still bring stable and generous returns to the company, but there are not many such companies. After all, I am still fantasizing that one day I can become a giant and a great company that attracts the world.
What causes the product to enter a small stability?
1. Just mastering the needs is not enough
Demand is the motivation to enter the market, and creating higher value for users is the necessary means of competition.
BOSS: "I talked to a salesperson in Meituan for an afternoon. The share of Meituan and the merchants was 30% or 70% in a year. If we can share one tenth of the share, the income will be quite considerable in the year. I thought about it and one of the main needs of the merchants is that someone orders takeaway, that is, there are not many takeaway orders. On the other hand, we can also settle in the merchants that Meituan can settle in, so that the merchants can choose from multiple choices. In the catering circle, I also have many friends, and we can try this project!"
PM: "I don't agree with the takeaway. Let me first talk about my concerns. Suppose the model we do is the same as Meituan, which means that we are competing with Meituan in the same market. For merchants, they focus on orders, that is, making money, how can we guarantee the quantity of orders? If the orders are too small, the merchant will be more likely to give up. For customers, they focus on the diversity of food, price, and the reputation of this merchant. Is the delivery fast and the service attitude? What can we achieve in this area? For food deliverymen, they focus on the quantity and price of orders. And distance. Meituan has a strong funding. If we do a little better, they will start to subsidize users. How likely is our winning? It requires a lot of capital investment in packaging, food delivery staff training and management, merchant qualification review and management, and platform promotion and operation. From the perspective of the brand, when we ask consumers, where to order takeout? They may say that Meituan, Ele.me, Baidu Takeout, these platforms have already occupied a place in their minds. We have to convince consumers to use our takeout platform, and the cost will not be very small. I think we must at least solve these problems when doing takeout projects."
The BOSS blushed a little violently, blinked for several times, thought for a while, looked at PM and took a breath, looked up at the ceiling, his face slightly darkened, and stood up and said, "What you said is not unreasonable, but think about it again, don't think I think I was starting a business at that time, relying on my passion, and I was also doing it and fumbled along the way. I think the result is not as absolute as you thought."
Through a story case, it is convenient for everyone to have a deeper understanding. When we choose to do a certain project and prepare to enter a certain market, it is not to discover business opportunities or discover the needs of the target users, but to make accurate judgments. We can better meet the needs of the users and users are more willing to choose us. This is a big premise. It is also a news consulting platform. On the premise of the same content quality, for different user groups, the small details of content layout, smooth pages, easy-to-understand function operations, etc. are whether they are the top secret weapon to win the hearts of users. The judgment of these small details should be centered on the user's perspective. For young people, the advantages of these details are reflected in simplicity, cleanness, and keeping up with trends. For older users, they like the big red and green with big fonts.
2. Don’t understand the industry thoroughly
This is a very broad concept, but it is to make the product go towards success. We often talk about the industry's understanding. So how should we understand it? Is there any way to understand it?
I think the first principle mentioned by Musk is very good. The first principle was first proposed by Aristotle. "In any system, the existence of a first principle is a most basic proposition or assumption that cannot be omitted or violated."
著有《进化式运营》一书的作者李少加，概括了第一性原则的3个属性：
1) The "first principle" is aimed at "specific system of specific situations". It is not an isolated thing, and it cannot be left out of contextual discussion.
2) Although the first principle is stable, it is not a "truth".
3) It cannot be obtained through luck or so-called talent, and everyone must go through "long-term observation, practice, and thinking" to gain insight.
Let’s take takeaway as an example and regard “order takeaway” as a system
Its "first principle" is:
You don’t have to go to a restaurant to eat the food from the restaurant you want to eat;
Save the time cost of walking and waiting for meals;
A variety of choices are better than instant noodles;
...
3. Not controlling the compatibility between products and market
Products keep up with changes in the market, especially the Internet industry, not only need to surpass the speed of similar competitors, but also monopolize the pursuit of competitors, and prevent the subversion of cross-industry products. The fit for the market:
1) Have a deep enough understanding of users, such as region, age, gender, consumption tendency, occupation, and cultural level, what are the competitors used, and what is our understanding and understanding, and what we usually talk about as a user portrait;
2) Always pay attention to industry trends, what are the industry structure, what are the sub-sectors, who has the most say in this industry, what are they focusing on, which company is the biggest, what has happened in the industry recently, participate in more industry activities, communicate and learn with industry elites, which is the best way to establish connections and have a deeper understanding of the industry;
3) Pay attention to competitor trends, what functions have been released recently, who are their partners and suppliers, what are the big guys in the company, what are the company's recruitment trends, etc. Knowing yourself and your enemy will never win. This is the meaning of understanding competitors;
4) Pay attention to policies and regulations, what support policies does the state have for this industry, and what aspects of business will be restricted, and make response policies in advance;
5) Pay attention to the recent popular new technologies and nouns in the Internet industry, such as consumption downgrade, blockchain, new retail, and the expansion of overseas markets. This is a major industry trend. If you capture the opportunity, it may soar. The rumored personalized recommendation was proposed by FB Creator Zuckerberg, but it created today's headlines worth 50 billion US dollars in China.
4. Haven’t established a good corporate culture
Corporate culture is the soul of a company and its belief lies. It mainly plays a role in uniting people's hearts and reflecting the connotation of corporate culture. Tencent’s corporate culture is user experience, Alibaba’s corporate culture helps users better operate their businesses, and Xiaomi’s corporate culture focuses on cost-effectiveness. What kind of corporate culture educates a group of people? I personally believe that corporate culture is more important than management to a certain extent. The purpose of management is to do something well, while corporate culture supports the spirit of doing this thing better. After doing it well, it is a banner far away on the other side, fluttering in the wind, and we have more grand goals.
5. The leader is undecided
Whether a business can be successful is mainly due to a ferocious lion taking the lead. When hanging on the cliff, facing various pressures from competitors, customers, and subordinates, you can still remain calm, confident, and move forward bravely. At work, you are passionate, patient and responsible, and you can bravely admit your mistakes when faced with others, and dare to take responsibility or point out others' mistakes. This lion who takes the lead is kind, kind, kind and generous at work. He is humorous and funny, but he can always do it when he talks about it. In the face of difficulties, he is always confident, strong, never frightened, and moves forward bravely. Such a leader may only exist in the dreams of many entrepreneurs, but he has always been a role model in the dreams of many entrepreneurs!
Summary: Small stability, almost every product will experience it. When it comes, expanding new business is not the only way out. In the long run, we should first look for shortcuts to accelerate profits from multiple perspectives of the product. There are really countless fans ahead and it is difficult to move forward. Choosing a more spacious track may be a wise decision.
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