A great product almost sells itself when people hear about it.
That’s because it has built-in competitive advantages that people want and can’t get from other products.
Peter Theil says any new product should be “10 times better” than existing products or he’s not interested in investing into he company.
I’ve found this exercise effective in teaching people how to develop great products:
Ask yourself, what would you say about your product if you only had a 30-second TV ad to say it?
Is that unique and different and powerful enough to get people to buy it?
If yes, great.
If not, improve your product until it IS.