I stumbled upon a really interested post over the weekend and thought I’d share it with you guys.
Sachin Rekhi, product manager @ Imeem says that instead of building simply based on “What People Want” (the motto preached by Paul Graham of Ycombinator fame), you should build based on “What People Want” and “What people will Buy“.
If you think about what this means, it fully encompasses the original statement. In order to make something people will buy, you first have to make something people want. But now making something people want is a necessary, but insufficient condition. You have to take it to the next level and make something people find compelling enough to buy.
We’ve seen a lot of innovation in the last 5 years on product, but limited innovation on the monetization front. I hope with the current flight to revenue, quality, and sustainable businesses, we start to see real creativity in the business models and monetization methods that drive web businesses.
You can read the entire post at Sachin’s blog.