What is Palm to do? If you can’t innovate sell out. Palm has hired Morgan Stanley to look at various options…including a sale.
Whatever happened to talking to your customers? Innovating. Trying to find ways to evolve your product to make it indespensible to your customer. Unfortunately while Palm was the first, they appear to be the last on innovation.
Successful organizations and products are never satisfied. They are always trying to stay ahead of their customers. They constantly study their customers, what they need, how they use their product, they eat, breathe and live like their users and regularly incorporate innovations.
In today’s intensive profit driven private and public marketplace too many managers focus on the investors first and the customer second.
Sure you need the investment to build the business but don’t ever forget that the only reason the investors are there is for the returns and if the customer is not happy then its only a matter of time before the returns are minimized or eliminated.