Internet Entrepreneurs – Make something People will buy

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.

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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.

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4 comments

  1. Well,
    Both things are pretty much linked into each other.
    If you focus on monetization first, then might end up f***ing your product / service.

    Ideal condition is to create world class service then innovate on monetization.

  2. rohit — they’re linked in way that the monetization aspect is a corollary to the ‘build what ppl want’ motto.

    There’s no way you will be able to monetize effectively if you have built something that people dont want.

    • Pranav- think of Microsoft.

      Rohit- World has seen many world class services/products biting the dust because of poor monetization plans. On a side note, I am not sure how can one raise funding for a “world class service/product” without a proper monetization scheme. I think, investors have seriously burnt deep hole in their pockets, and now they are more interested in seeing green bucks.

  3. @shailendra

    how’s microsoft able to monetize by building what people dont want ?

    curse how much ever you want, windows and office are still way much user friendly than linux, openoffice and other open source alternatives.

    there’s a need for easy to use office/productivity software and thats why office and windows are still m’softs cash cow..

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