Some of The Lessons One Can Learn from Jed McCaleb’s Journey in Business
January 30, 2018
Jed McCaleb the co-founder of Stellar.org recently did an interview with an online publication breaking down his entrepreneurial journey while at the same time revealing some of his secrets to success. In the interview Jed says if ever given an opportunity to go back and begin afresh, he has a long list of stuff that he could do differently but this is not to say that he regrets it or anything like that but it is all about looking back to ascertain whether considering the information that was readily available at the time and whether he made the best possible decision at the time. He however also recognizes the fact that it is also possible to make the best possible decision and have your plans rocked by external factors that are way beyond your control.
Jed’s approach to business is the bigger the better meaning that if you have a product with the potential to solve a need in all parts of the world by any means just go global since according to him the difference between going for the mass market and going for a targeted niche market is quite marginal but the reward for mass production is quite huge when compared side by side with niche market production.
Jed credits his immense success at the marketplace to his deliberate intentions of taking most of his time coming up with the best humanly possible product as opposed to building substandard products and then focusing on marketing those products as some of his competitors do. This is highly enabled by the internet given that these days it is much easier for the target market to identify the product that wholly satisfies and meets their needs.
However, this is not to say that Jed has not met his fair share of challenges during his journey as a businessman, though he says the most important thing is to overcome them and never ever let them stop you from your dream. It all boils down to how persistent you can be throughout the trials and tribulations phase as you finally await your day of breaking out and receive your success.