starting greatness mike maples

Design your category | Starting Greatness with Mike Maples

Check out Starting Greatness Episode Page & Show Notes

Key Takeaways

  • 3 traits of legendary startups:
    • Extraordinary teams
    • Breakthrough products that change the future
    • Creating a new category
  • Breakthrough startup founders are time travelers who discover a secret to a radically different future and they must come back to the present and convince early believers to embrace their secret and co-create that new future with them
  • 4 Steps to designing a category:
    • 1) Identify your founding insights and use them to identify your difference. 
    • 2) Create your category design blueprint
    • 3) Define your provocative point of view
    • 4) Mobilize your movement

Intro   

  • Host: Mike Maples (@m2jr)

Books Mentioned

  • To learn more about designing a category, Mike recommends reading Play Bigger by Christopher Lochhead

What It Takes To Be A Legendary Founder

  • Legendary startup founders design categories, not just products or companies
  • 3 traits of legendary startups:
    • Extraordinary teams
    • Breakthrough products that change the future
    • Creating a new category
  • Breakthrough startup founders are time travelers who discover a secret to a radically different future and they must come back to the present and convince early believers to embrace their secret and co-create that new future with them
  • These founders must:   
    • Create a new category that transcends the products of today rather than a better product that’s an improvement over what’s available today
    • Start a movement based on a provocative point of view that becomes a future market
      • Ex: Steve Jobs created the smartphone market and Elon Musk created the electric car market
  • To design a category, you have to persuade people to move with you into a different future

Biases That Drive Our Brain

  • The anchoring effect: in which early information affects how we think about all information that comes later
  • Group think: in which we tend to believe things because other people do
  • Conformity bias: we often believe similarly to others in a group, even if it goes against our own internal judgment
  • Choice supportive: in which once we choose something, we tend to believe it will always be better even if it’s not when the future facts unfold

4 Steps To Category Design

  • 1) Identify your founding insights and use them to identify your difference. 
    • If your startup is going to be a breakthrough, you need to identify the most important way it breaks free from the present. 
      • How do you want the world to think differently about a problem? 
      • How do you want to introduce them to a different future, not just a better product? 
      • How is the world you are proposing radically different from the world that is?
  • 2) Create your category design blueprint
    • We want to make sure to map the entire ecosystem that will animate your category. 
      • Who are the players that need to help you evangelize the category in addition to the customers? 
      • Who are the players who will be threatened by the future you are proposing? 
      • What will they try to do to stop you?
  • 3) Define your provocative point of view
    • A strong point of view provokes people to move in your direction because they embrace it
  • 4) Mobilize your movement
    1. You want to get all of the people who matter in your ecosystem to move toward the future of your design.  
Starting Greatness with Mike Maples : , , , , ,
Notes By Alex Wiec

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