Base Your Business On An Irrational BehaviorFebruary 21, 2013 7:06 am
Most consumer internet success stories of the last 5-7 years share one common trait – they are based on at least one consumer behavior that can be classified as ‘irrational’. Well it could be ‘predictably irrational’, but it is most definitely irrational. This applies to all the biggest success stories you see around you: the heuristic is this – you must be able to ask the question, “Who would have thought that people would” and then complete the sentence. Here are a few examples:
Who would have thought that people would share their whole life online (Facebook)
Who would have thought that people would get addicted to short real-time status messages (Twitter)
Who would have thought that people would need a separate social layer on top of photos on iphones (Instagram)
Who would have thought that ..
Base your business on an irrational consumer behavior. In the consumer internet space, you are more likely to succeed that way – and if you do, you will succeed wildly.