Will it scale?: The dream for most digital media executives is to find that next game changer. But always ask yourself: Why are we doing this? How quickly can it scale up and at what cost? These two issues can make or break a company trying to master the digital space.
Super-consumer: One needs to understand the market and products as a consumer. Remain curious and don’t limit yourself. If you are a professional in the digital space where you either create, develop or market products, you have to be a super-user first. You have to use every app available on the internet. You can’t innovate until you are part of that world.
Social sensibility: Modern businesses have to start embracing social media platforms. Social media is described by marketers as a necessary evil. Some platforms have powerful lobbyists that you cannot ignore. These lobbyists can mould public opinion in your favour. But don’t dilute your posts by being inane or funny. Think before you comment. So, before your next tweet, first ask yourself — is there any point tweeting what you had for breakfast?
Core competence: The digital space is dynamic. Competitors announce new products almost everyday. This can get overwhelming. And what follows is a temptation to compete with everyone in the market. But stick to your roadmap. Assess your core capabilitieas and do not try to be all things to everyone.
Drop ideas: Consumer choices are evolving constantly. This makes even the best ideas obsolete in six months. You have to be brave and drop even your best ideas. If you remain obstinate you will fail. Remember the Blackberry Playbook?