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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Competing Against Luck summary
Clayton M. Christensen, Taddy Hall, Karen Dillon & David S. Duncan
The Story of Innovation and Customer Choice
18 mins
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Competing Against Luck
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Tailor products for specific needs
In a world brimming with innovations and the relentless pursuit of the next big thing, the question of why certain innovations succeed while others falter remains rather perplexing. The heart of this puzzle lies not in the brilliance of technology or the allure of groundbreaking designs, but rather in a fundamental understanding of what prompts a customer to choose one product over another.
That’s where the jobs to be done theory comes in, a concept that has the potential to revolutionize your approach to innovation. At its core, this theory suggests that customers “hire” products and services to accomplish a job in their lives, driven by specific circumstances. The key to unlocking successful innovation is to understand these jobs deeply and create products that are not just technologically advanced but are fundamentally aligned with what customers need to achieve.
Take this example: For years, fast-food chain McDonald’s struggled to enhance its milkshake sales, trying various tactics based on customer feedback. However, it was only when they reframed their perspective to understand the “job” the milkshake was being hired for that they unlocked success. Through observation and interaction, they discovered that customers were hiring the milkshake for a unique job; to make their morning commute more engaging and to stave off hunger until lunch. This revelation wasn’t about the milkshake’s ingredients or price – it was about understanding the specific job for which it was being hired.
So, with this realization in hand, the fast-food chain had a revelation. To better cater to the morning commuters, they could make the milkshake thicker, adding elements of surprise like fruit chunks or chocolate bits. This would not only enhance the taste but also add a fun element to the otherwise monotonous morning drive. These targeted improvements led to a significant increase in sales and customer satisfaction. By understanding and catering to the specific “jobs” the milkshake was hired for, the fast-food chain transformed a generic product into a multifaceted solution and, by doing so, enhanced its appeal.
So, how can you go about implementing this at your organization as you navigate the complex terrain of innovation? First, it’s crucial to shift your focus from merely improving product features to understanding the job your customers need to get done. This approach involves keen observation and interaction with your customers, seeking to understand the circumstances under which they use your product or service.
Second, innovation should not be about creating a one-size-fits-all solution. It’s about recognizing and responding to the diverse needs of your customers. Each customer interaction presents a unique job to be fulfilled, and understanding this variability is key. By adapting your product to meet these specific jobs, you can transform a standard offering into something precisely tailored to address distinct customer requirements.
Alright. Now that you know the secret to successful innovation, you can start creating products or services that resonate more profoundly with your customers. This will ensure not just immediate success but sustained relevance in an ever-evolving market.
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What is Competing Against Luck about?
Competing Against Luck (2016) challenges you to rethink innovation and growth through what is known as the jobs to be done theory. This transformative concept invites you to understand on a deeper level why customers make the choices they do, thereby helping you shape how you develop and market your products or services. Dive into a world where success hinges not on luck but on a profound comprehension of your customer’s true needs and desires.
Competing Against Luck Review
Competing Against Luck (2016) is a thought-provoking exploration of how to create products and services that satisfy customers' needs. Here's why this book is worth reading:
- It provides fascinating insights on why customers choose certain products, helping businesses increase their chances of success.
- Through compelling case studies and real-world examples, the book offers practical strategies for identifying and addressing customers' "jobs to be done".
- With its engaging narrative and clear explanations, the book keeps readers hooked, making the topic of innovation accessible and engaging.
Who should read Competing Against Luck?
- Business leaders seeking innovative growth strategies
- Entrepreneurs exploring customer-centric product development
- Marketing professionals interested in consumer behavior insights
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Competing Against Luck FAQs
What is the main message of Competing Against Luck?
The main message of Competing Against Luck is that success lies in understanding and fulfilling customers' needs.
How long does it take to read Competing Against Luck?
The reading time for Competing Against Luck varies. However, the Blinkist summary can be read in just 15 minutes.
Is Competing Against Luck a good book? Is it worth reading?
Competing Against Luck is worth reading as it provides valuable insights into how to create successful products or services.
Who is the author of Competing Against Luck?
The authors of Competing Against Luck are Clayton M. Christensen, Taddy Hall, Karen Dillon, and David S. Duncan.
What to read after Competing Against Luck?
If you're wondering what to read next after Competing Against Luck, here are some recommendations we suggest:
- In an Unspoken Voice by Peter A. Levine
- No Explanation Required! by Carol Sankar
- Positive Influence by Tsun-Yan Hsieh & Huijin Kong
- Jobs to Be Done by Stephen Wunker
- Obviously Awesome by April Dunford
- Pillars of Wealth by David M. Greene
- The Innovator’s Dilemma by Clayton Christensen
- The Innovator's Prescription by Clayton Christensen
- The Trusted Advisor Fieldbook by Charles H. Green & Andrea P. Howe
- The Humor Habit by Paul Osincup