Companies spend time, money and effort implementing business strategies on their path to success. I love discovering the companies that have exceeded industry norms and gone from Zero to Hero faster, stronger and better than others in their sector. A curious mind, asks a curious question, 'How did they do it?'
I have discovered several companies who have adopted this same strategy since Day 1 to become household names. This strategy I have affectionately called the Power of Pain. Here I will share how the YouTube founders tapped into this pain strategy to launch a year after their competitors and gain market share to become the behemoth it is today.
Fast Track to Success with the Power of Pain
The Pain strategy is based on idea that a product is not created from passion but from a position of pain. It taps into the human suffering a person has experienced and they are then inspired to create a solution to fix the pain. The product is an 'Aspirin', a must have versus a 'VItamin', a nice to have.
Thousands of Start Ups are created from passion. If you love flowers, you may set up a florist. If you love gaming, you may build an App. Passion and pain are both excellent reasons to launch new products. But is one approach more successful than another?
YouTube uses a Pain Story to succeed
Chad Hurley and Steve Chen discovered the idea for YouTube after experiencing difficulty sharing videos that Chad took at a dinner party in San Francisco. Could they build a faster, stronger, better solution?
By sharing their pain story, investors jumped on board and a new video sharing service was born. By December 2005, YouTube had 8 million views per day. By July 2006, 65,000 new videos were being uploaded daily achieving 100 million views. By 2015 YouTube had 15 billion visitors per month. We all agree this is super fast growth!
YouTube's Fast Track Strategy : Power of Pain