“If I had asked people what they wanted, they would have said faster horses.” – Henry Ford
Henry Ford’s genius lay not in inventing the assembly line, interchangeable parts, or the automobile (he didn’t invent any of them). Instead, his initial advantage came from his creation of a virtuous circle that underpinned his vision for the first durable mass-market automobile. He adapted the moving assembly line process for the manufacture of automobiles, which allowed him to manufacture, market and sell the Model T at a significantly lower price than his competition, enabling the creation of a new and rapidly growing market. (Read More)
Any innovator needs to know a few key things. What the customer wants, what the customer needs and what the customer would actually use. Henry Ford was able to nail it right on the mark with his products and his processes.
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