Realtor.com is clearly in disarray. They not only refuse to acknowledge or communicate with their community, I have come to question whether or not they even recognize that a Realtor community exists. More importantly, I ask myself, if I were charged with rebuilding Realtor.com, reversing the brand and community damage and making a genuine effort to start a new relationship with Realtors, how would I do it?
A good starting point would be to review Loic Le Meur’s 10 Rules for Success. While the list is geared for startups, many of the ideas work just as well for established businesses.
- Don’t wait for a revolutionary idea. It will never happen. Just focus on a simple, exciting, empty space and execute as fast as possible
- Share your idea. The more you share, the more you get advice and the more you learn. Meet and talk to your competitors.
- Build a community. Use blogging and social software to make sure people hear about you.
- Listen to your community. Answer questions and build your product with their feedback.
- Gather a great team. Select those with very different skills from you. Look for people who are better than you.
- Be the first to recognise a problem. Everyone makes mistakes. Address the issue in public, learn about and correct it.
- Don’t spend time on market research. Launch test versions as early as possible. Keep improving the product in the open.
- Don’t obsess over spreadsheet business plans. They are not going to turn out as you predict, in any case.
- Don’t plan a big marketing effort. It’s much more important and powerful that your community loves the product.
- Don’t focus on getting rich. Focus on your users. Money is a consequence of success, not a goal.
(via Financial Times)
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June 12th, 2008 at 2:45 pm
This is a great list. And it applies to pretty much any “management” type scenerio. Whether it’s managing a product, a deparment, whatever.