Timing. Whatever it is you are trying to achieve, one factor of success is timing. Too early and the market is not ready, too late and you are seen as me too. So we always tip our hat to the role luck plays in getting yourself to market at the right time for people to be ready for what we are doing.
Some back story. Creativity is a process. There may be a moment of clarity where you see some future ahead, but the work of a start up is to understand that insight through experience. This is often a lot of failed attempts with the same pieces, trying to get a successful product market fit. Each time you complete the development and head out with a new iteration of a core concept, you expose yourself to rejections that teach you more about the product and more about yourself. You take the bruises, brush off the dust, talk yourself through the motivation and start again.
In 2015 we built a platform for a specific purpose and through testing the concept we learned about ways we could deploy our core ideas differently. We found partners, tested the approach, got rejected. We did not give up. Belief helps, a purpose motivates. So we went around again. Found partners, tested the refined approach, got rejected and started again.
Always the same pieces - unique product identities and ownership as a digital explicit. Each lap was learning and experience. Effectively, we were trying to penetrate a market that fears change. Change takes courage and that comes with risks. Risks get employees few promotions.
All this learning pays off. The development of a core idea expands. Our understanding grows and with it a new language.
Steve Jobs "You have to start with the user experience and work back from there."
What we glimpsed in a vision some years before forms into a model - DigitalOwnership®
The Experience of Ownership - a hierarchy of needs.
We tell the story of a bicycle to explain the experience of ownership. You own a bike, but it is not in your possession. You cannot ride it, or do much else. The first experience is thus possession. If it is lost, or stolen, then it is a service to report it thus, or to get it returned.
Once you have your bike, then the next experience is utility, if the tyres are flat, you cannot ride it. Fixing problems is a service requiring information and parts. Once the bike can be ridden, you move up the pyramid to the next experience.
Performance. Riding down the road, you now want to go as fast as you like. How to optimise or enhance your riding experience. So information, optimising components, enhancements. All service opportunities for an owner.
At this point, if everything is right, as an owner your final experience is joy. All producers of products want their customer to experience joy. Enjoyment is the key to repeat buying, recommendations to friends, promotion to your wider circle. Our message to any producer - think how information plays into this path.
And so here is our certainty. Take any product you like and imagine a twin competitive product to compete with it. Give one of these a simple understood common pathway to information and services for the owner as described above. Of these twins, the one with the ownership experience digitally augmented with information will always beat the product that stands alone.
That is why each time we were rejected, we went back and started out again. And why we are writing this out now. We are inevitable.
Thank you to BestStartup.co.uk for the nomination.
We will be showcasing our full end to end digital ownership solution at the RWM exhibition at the NEC. Come and see how uniquely identified disposables and SmartBins can lead to cleaner waste streams.
You may also wish to hear David Thomas speak about the principles behind our approach and how we see digital ownership as key to making consumerism sustainable worldwide.
Mintfinity Ltd. are pleased to share our submission to DEFRA, on the occasion of their consultation into "Introducing a Deposit Return Scheme (DRS) in England, Wales and Northern Ireland". We welcome DEFRA's consultation and ensuing engagement with policy makers and all interested parties.
In our paper we propose "digitally extending and enhancing" the basic concepts in DRS to build out a full Recycling Engagement Platform that will better meet the needs of Producers and Distributors and Consumers and Legislators.
We also propose a set of measurable metrics or KPIs (rather than recovered tonnage of waste) to guide new recycling policies, practices and consumer behaviours.
Comments welcome - in the form - below
Our foundation piece on the principles of unique product identity and how they can be used to add service layers. Published on Medium.