Purple Cow

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Submitted By Yervant
Words 838
Pages 4
Purple Cow
Examples: Italian Butcher, Otis elevator, Lady Gaga, Apple.
The lesson is simple – boring always leads to failure. Boring is always the most risky strategy. Smart businesspeople realize this, and work to minimize (but not eliminate) the risk from the process. They know that sometimes it’s not going to work, but they accept the fact that that’s okay. The opposite of remarkable is very good.

NEW MARKETING:
Create remarkable products that the right people seek out.

The more intransigent the market,
The more crowded the marketplace,
The more busier are the customers,
The more we need a Purple Cow.

INNOVATIVE: Unique, Take a chance, Be the purple cow, Take risks

The challenge is to do two things simultaneously:
Milk the Purple Cow for everything its worth. Figure out how to extend it and profit from it for as long as possible. Invent an entirely new Purple Cow in time to replace the first one when its benefits inevitably trail off.

10 WAYS TO RAISE A PURPLE COW:

Differentiate customers
•Pick one underserved niche to target
•Create two teams: the inventors and the milkers
•Start getting email addresses of customer base that loves what you do
•Do the "unsafe" thing every time you have the opportunity
•Explore the limits
•Think small but outside the box
•Find things "just not done" , and do them
•Ask, "Why not?"
•Always tell the truth

Why There Are So Few Purple Cows:

One reason is that people think the opposite of remarkable is “bad” or “poorly done.” They’re wrong.
•Not many companies sell things today that are flat-out lousy. Most sell things that are good enough.
•That’s why the opposite of remarkable is “very good.”
•Some people would like you to believe that there are too few great ideas, that their product or their industry or their company simply can’t support a great idea.
•Another reason the…...

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