Why You Need To Look At Losers

It’s easy to notice the winners. It’s easy to remember how popular the 50 Shades of Gray book and the new Star Wars movie were. It’s easy notice how many Tesla sports cars are on the road now and which app is at the top of the bestseller list. It’s even easier to see which companies stock is rising and which products take up the most shelf space at the store.

We notice the winners because we think, if they won than they’re worth noticing. When it comes to new ideas, it’s just as important to notice the losers as it is the winners.

The winners show us what worked, and if we investigate further we may be able to see how or why they did. The losers however, show us what didn’t work. Yes that’s obvious, but it needed to be said.

Looking at winners shows us why it worked for them, at that time, in that market and by doing it that specific way.

Looking at the losers shows us why it didn’t work, what went wrong, why the customers didn’t like it, what the customers wanted instead, the parts of that idea people liked and the parts they didn’t, and what needed to be done to make it a success.

In most cases the losers did at least a few things right.

They had at least a few small successes and a decent idea to compete with the winners for a short period of time. When they changed from a competitor to a loser they don’t blame the original idea.

The original idea got them here, it was the new ideas or the lack of new ideas that made them lose.

That original idea is worth looking at because it may still have life in it. It may be an opportunity for you to seize or at the very least its an opportunity for you learn from.