Never Get ‘Married’ To Your Customers
My years in the health care industry taught me many lessons. One that I often stress to new entrepreneurs is to remember that the same changes in the market that give you an opportunity can just as quickly take it away.BizJournals.com offers a entrepreneur’s story of having to make a drastic shift in target markets. Veicon, Inc. had provided Internet access to hotel guests until 9/11 all but ended that market. So they quickly shifted to public access terminals in libraries and hospitals.
Entrepreneurs, by definition, operate in what my former colleague Peter Vaill calls permanent white water. That often requires quick and decisive changes in direction to avoid complete disaster. Someone once told me these words of wisdom; “Never get ‘married’ to your customers.”
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