I think it's very important that whatever you're trying to make or sell or teach has to be basically good. A bad product and you know what? You won't be here in ten years.
-- Martha Stewart
For more about Martha Stewart, keep reading....
About the Quote
We need to put in quality effort in whatever we do for many reasons. At a minimum, we don't want to be known for making garbage or having low-quality service. Either can kill a business, and both can lead to bankruptcy.
While it's true that whoever comes to market first with something new has first-mover advantage over everyone else. However, it's possible to overcome that buy offering a better product:
This has been proven countless times. In the late 1990s Microsoft was late to the graphical web browser market; in a few years it came to dominate that market by a large margin.
In the mid-2000s Apple was late to the MP3 music player market; after it released its iPod, Apple became the undisputed leader in MP3 music players, and that was the springboard for its dominance in the movile phone market.
Some (More) Information about Martha Stewart
During her years in college, Martha Kostyra (later Stewart) did some modeling work. She continued to work as a model before working at a Wall Street firm as a stockbroker. She appeared in print and television advertisements. Among the goods she promoted as a model in the 1960s were Breck beauty products, Clairol beauty products, Lifebouy soap, and Tareyton cigarettes.
In 1973 the Stewarts (Martha and Andrew) bought a farmhouse on Turkey Hill Road in Westport, Connecticut, US. The farmhouse had been built in 1805. The renovated the farmhouse completely. In later years, this farmhouse would be featured in a number of her television programs.
In 1976 she began running a catering business out of the basement of her home in Westport. She also gained additional business experience by managing the Market Basket gourmet food store in Westport. She was able to guide the Market Basket to success, which bode well for her later. Her catering business did well enough that by 1986 it had become a million-dollar enterprise.
One side benefit of running her catering business was valuable contacts she would make. She catered many parties in New York, New York, US for publishers based in NYC. These contacts led her to her first book deal in 1982, when Martha Stewart’s Entertaining was published.
-- Source
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