“To get people to pay for something that you built, it has to be of service. It has to make somebody’s life betterâ€
— Jimmy lovine
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Simplified Meaning:
When you want people to spend their money on something you created, it needs to be useful and helpful to them. Think about a smartphone, for example. People buy it because it allows them to communicate, take photos, and use various apps that make their daily tasks easier and more efficient. If a product or service makes a task quicker, saves money, or brings joy, people see value in it and are more likely to pay for it. Imagine making a tool that helps people cook faster and more delicious meals; cooks and busy people would find it very valuable. By ensuring what you build solves a problem or adds convenience, you increase the chances that others will be willing to invest in it.
Related tags
Business strategy Customer satisfaction Entrepreneurship Innovation Market demand Product development Service Utility Value creation
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