Hi everyone! Welcome to another Motivational Monday Quote. Today the words of wisdom is from Reid Hoffman.
Reid Hoffman was the co-founder and executive chairman of LinkedIn. He is also an American internet entrepreneur, venture capitalist and author.
While some of us may roll our eyes at LinkedIn, we cannot deny that he did started something significant. To some extent, LinkedIn has succeeded in creating a kind of social media for the business world.
Whether you think highly of him or not, he has some advice gems. And here is one of those that I appreciated.
Watch: Motivational Monday Quote by Reid Hoffman – Launch Product 1st Version Quickly
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Motivational Monday Quote For You – 27 September 2021
“If you are not embarrassed by the first version of your product, you’ve launched too late.” — Reid Hoffman, co-founder of LinkedIn
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Acceptance of The Imperfect Product
Today, technology has advanced at a rapid rate. And it has also been getting less expensive, too. This combination has led to many attempts to innovate and disrupt industries.
For example, businesses like Uber, AirBnB, Apple, AliBaba, and many more. All these have disrupted the industries and markets they have entered. And succeeded.
And one interesting thing to note is that not all of them started with the best version of their product. In fact, some may argue that they have yet to reach that perfection.
And it is interesting to note too, that although the product is not perfect, the target market still accepts the current version. They accept it because today, most people accept this as the norm.
They go with what is working at the moment. And they see it as being one of the front runners in using the app or product. And look forward to creating a better product with the brand.
Launch It Now!
It is due to this acceptance that, nowadays, many brands are launching their product. Even if it is not so great.
The idea is to get it out there, and see if there is a market ready to accept it. If there is, then over time, keep upgrading it. Keep improving it.
As long as there is the constant upgrading and improvement of the product or app, the audience is pleased.
Remember the first iPhone? How does it compare with the current one? While the first iPhone was not perfect, there were a lot of early adopters.
The same for Uber, LinkedIn, AirBnB, AliBaba and the rest. I remember how nervous I was when I first used AliBaba. There were concerns about the suppliers.
Were they legit? Will I spend a lot of money and get low grade products? In what way will AliBaba protect my interests? There were so many concerns.
Of course, over time, the brand kept improving. Today, it is a much less stressful marketplace to get products from suppliers. And all this is due to Jack Ma constantly and continually improving the service.
Can you imagine if Jack Ma kept delaying the launch of AliBaba? To wait till the service is perfect? He will never be who he is today.
So, this is what Reid Hoffman meant with this Monday Motivational Quote today. When you see your product or app good enough to work, launch it now!
Motivational Monday Quote by Reid Hoffman – Launch Product 1st Version Quickly
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