Tags

  • Published on

    How to lose 90% of your customers in 5 years?

    BusinessTransformation Leadership Business-model

    How to lose 90% of your customers in 5 years?


    In 1995, Netscape Browser was the best browser. I remember talking with my friend Andrew who had the idea to bring this business solution into Asia. 


    1995: 90% market share

    1996: 86%

    1997: 51%


    Netscape didn't just lose; they committed suicide. They had a 90% market share. And they threw it all away because they forgot the most important rule: Focus on what the customers want.


    Here's how they blew it:


    1. The Rewrite Trap: 

    This was their biggest error. They re-wrote their code, meaning they stop new releases for 3 years to "clean up your code". While Netscape was busy, the world moved on. You don't win by being perfect later; you win by being better right now.


    2. Software Bloat: Turned a browser into a "suite" of emails, newsreaders, etc. Became slow & buggy. Users want a tool that works.


    3. Wrong Business Model: Trying to sell when the competitors were giving it for free. Microsoft realized the browser wasn't a product; it was a feature of the operating system. Google's free browser was a door to their world of fast searching and apps, while profiting from ad revenues. 


    By the time Netscape realized they were in a fight, the fight was already over.


    It's been 30 years. Has successful startups learnt this lesson? Or are they still bragging about their 1st-mover advantage that gave them a major share of the market (for now).


    1st-movers in the past:

    1. 1st successful PDAs: PalmPilot 1000(1996). 

    2. 1st digital music player: MPMan F10. 

    3. 1st digital camera: Kodak 1975.

    These companies don't exist today. 


    Marc Andreessen, Netscape cofounder: "Netscape will soon reduce Windows to a poorly debugged set of device drivers". this quote didn't age well..

  • Published on

    2024 is over. what now?

    BusinessTransformation Interviewing Leadership In-Demand-Skills
    As 2024 comes to a close, here's something we hear constantly from our clients...  In a market-driven economy, when hiring candidates, the most important is to find their VALUE proposition that improves the company's performance (in sales, customer services, innovation, etc).  
    What you need:
    - Results-focused mindset
    - Innovative thinkers, who are unafraid of changing legacy ways of working
    - Agile leaders who can adapt and evolve with the changing customer needs

    Finding talent who can "get it done" is crucial.

    Passion without skills is a ineffective
    Work without Passion is meaningless
    Passion + work = having a meaning in life.

    Adapted from  https://www.linkedin.com/posts/george-stern_stop-hiring-and-promoting-the-wrong-people-activity-7274771570122747904-HkUb?utm_source=share&utm_medium=member_desktop

    https://www.linkedin.com/in/george-stern
  • Published on

    Fortune in a.i. only for the brave

    AI BusinessTransformation
    Recently, I met up with some old friends in Singapore and HK who are CTO, CIO, Directors, etc. Some lead Asia teams. Some run AI startups. We spoke about AI and automation's effect on business. We all agreed are in the midst of an extraordinary era of technological transformation, one that is accelerating at an unprecedented pace. Innovations in tech startups, engineering, pharmaceuticals, clean energy, IT infrastructure & communications, biotechnology and nanotechnology are converging to enhance our lives, making them longer, healthier, and more fulfilling.

    These AI-driven advancements are revolutionizing work and employment in 5 significant ways:
    1. Enhanced Productivity: New technologies are making workers and workplaces more productive and efficient.
    2. Improved Quality and Safety: They are elevating the quality, safety, and reliability of established work processes.
    3. New Business Opportunities: They are creating significant business opportunities, leading to the emergence of jobs that never existed before.
    4. Disruption of Established Processes: They can disrupt or even obliterate established business processes, resulting in job losses and diminished work opportunities.
    5. Changing Work Locations: Remote working becomes the norm. Virtual work teams and locations increase.

    These AI advancements are profoundly disruptive and create "multiplier" effects on work-in-progress. They create winners and losers among organizations and their people. The future impact of these technologies is often unpredictable, making it challenging and risky to plan for their adoption. However, there is no alternative but to embrace them, as their influence raises the competitive stakes. Failing to respond thoughtfully and effectively can swiftly lead to a business’s decline or even its demise.

    "audentes fortuna iuvat” or “fortune favors the bold"— This new era of AI is a call to action, a reminder that greatness doesn't come to those who wait but to those who dare.
    hashtag#AI hashtag#startups hashtag#innovation hashtag#CHATGPT hashtag#LLM hashtag#CHATBOTS hashtag#artificialintelligence hashtag#machinelearning hashtag#datascience hashtag#robotics hashtag#innovation hashtag#bigdata hashtag#business hashtag#datascientist hashtag#automation hashtag#ml hashtag#digitaltransformation