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Submit ReviewThe Ford Edsel was one of the worst product failures in the history of the auto industry. The blunder of this one car cost Ford about $350 million in 1957, equal to about $3.76 billion today (based on inflation calculators). This loss was avoidable. Hear the lesson for your business.
Key idea: Don't focus on getting millions of dollars of investment to build a product. Instead, first build the right thing. You have to understand your market, their pains, and their perceptions. Brands are emotional and so are purchase decisions; logic comes later to justify why we chose. That's just how the human brain works.
Plus: the story of Buffer's product launch shows how you can validate your product idea for free before you spend money building it. I may have gotten a couple details wrong as this was from memory but here's the scoop: Idea to Paying Customers in 7 Weeks: How We Did It (Buffer)
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