Tag: Henry Ford

“You can’t build a reputation on what you are going to do.” – Henry Ford

The most valuable slide in a company pitch is the traction slide.  It shows that people want what you have because you have sold it.

A lot of startups try to raise money before they get traction.  It’s tough to do.  Nobody wants to invest in “what if?”

If you can’t create a traction slide because you don’t have any, figure out how to get it.  At least talk to 100 customers and document what would solve their pain.

“A market is never saturated with a good product, but it is very quickly saturated with a bad one.” – Henry Ford

Henry Ford may not have invented the automobile but he certainly did innovate a way to put it in the hands of the masses.  The vision was a car in every driveway.  Until that time, it was a high tech toy for the wealthy.  His innovation was the assembly line and a design that met the MVP, (Minimally Viable Product)… you know, any color you want as long as it’s black.

Of course eventually, the stakes were raised.  As more people owned cars, their expectations for features and comfort increased.  The moral here is you can never stop innovating because eventually competition will catch you.

Entrepreneurs have a knack for finding crappy products or crappy situations and making a better way.  People will always buy what they think is a great product.

“An idealist is a person who helps other people to be prosperous.” – Henry Ford

I like to be around big idea people but I find that few of them actually have the ability to pull it off.  They see the world as how it could be when everything lines up perfectly.  But they have a way of tying up time, attention and resources.

Entrepreneurs are the ones who take the big ideas and navigate the maze of reality.

Have your big ideas.

Hang around others with big ideas.

Filter out the noise and then go get it done!