A common question you hear when developing new products is about market timing and are we too late to market?

There is always the fear that a business may not be quick enough to develop an idea into a product and miss their ‘golden’ opportunity in the marketplace.

This question came up again recently and as we were talking it reminded me of a quote by Jimmy Cauty (one half of the 90’s electronic band ‘The KLF’ and who infamously burnt £1million in cash).

In 1988 Cauty wrote a manual on how to make a number one pop record. In the book he talks about timing a record release and the myth about missing that ‘golden era’:

“All eras in pop music are golden ages or will be looked upon as such by the only generation that matters at any given time.”

Cauty’s advice applies to equally to product development as it does to the record industry. Just because we might think that the ship has sailed doesn’t mean it has. After all..

• There are two (!) companies still manufacturing typewriters
• Almost 6 million vinyl LPs were sold in the UK in 2023
• 1 in 4 UK adults still read traditional print newspapers

These are all good reminders that ultimately the customer decides if there’s a market, not us!