Sourced from the Secret Leaders podcast where the guest is CEO and founder of HubSpot, Brian Halligan. Founded in 2006, HubSpot has grown to annual revenues of over half a billion dollars, 3,000 employees, 70,000+ customers across 100 countries.
“Back at school, I had a professor who used to say: “Don’t even bother to start a company unless your product is ten times better than the competition's. I think the modern reality of startups is that it is nearly impossible to build something 10x better! The cost of building something cool is really low. Sustainable product advantage is harder and harder to get. I think today companies succeed if their customer experience is 10x better.
I’ll give you an example. This morning I woke up and put on my Warby Parker glasses. I turned on my phone and listened to a podcast on Spotify. And then rode on my Peloton and later attended a meeting on Zoom. All those companies are pretty much startups. It’s not that their product is 10x better than the competition. The experience they create is 10x better.
They are not just product disrupters, they are experience disrupters. It’s not so much about the product-market fit these days to succeed, but the experience-market fit.”
- Brian Halligan, HubSpot
Listen to the full episode: