Don Dodge, (On The Next Big Thing) who is now with my former employer (Microsoft) - formerly with "bad-boy" Napster, offers this detailed description of what Napster did right - and wrong.
Lots to be learned here:
- Never get too far ahead of the market.
- Understand who your customer is, what problem you solve, and how much they are willing to pay for it.
- Never start a business focused on solving a big company’s problem.
- Test your assumptions before spending lots of money.
BOTTOMLINE: Good luck on your search for The Next Big Thing.