The Killer App
Many companies, especially the startup type, are seeking to define and implement their “KILLER APP” which is short for their killer application that will set them apart from and ahead of any possible competition in the market place.
A couple of years ago I was at the Riviera Country Club in Pacific Palisades, California at a LAVA, Los Angeles Venture Association www.lava.org, meeting to hear the US Vice President of Nokia www.nokia.com. He started his presentation with a joke. It was about the way Nokia was going to create the newest and best KILLER APP. Basically he explained that the majority of the time people don’t really need their cell phones for anything significant and most people used their cell phones to “kill time” while waiting or driving or generally to alleviate boredom. Nokia was going to solve this problem by providing extra games and applications to be used on the cell phone. A phone that was MORE than just a phone.
Another view of KILLER APP is promoted by Tim Sanders in his book, LOVE THE KILLER APP, www.timsanders.com. The book suggests that we give away three things.
1. Knowledge
2. Network
3. Compassion
In the year 2001 I co-founded and became CEO of a company to help the world communicate better. The other co-founder is a long time client and friend of mine. Our intention was to use the Internet to facilitate improved communication between companies. We developed an approach that was “beyond” using keywords to find what you needed. We even applied for a patent and when I met with the US Patent office attorney I remember him saying “I’ve never seen anything like this.” Several intelligent people thought it was remarkable.
Our KILLER APP was the Q-Rating. Every time there was a transaction the buyer rated the supplier on Quality, Responsiveness, Delivery and Price. The buyer was rated by the supplier on Responsiveness and Payment to terms. Using the law of large numbers and a complex algorithm it facilitated open and honest communication as well as amazing efficiency. It worked very well.
However, there was a problem. There are basically three ways to make money on the Internet: (ATM) Advertise, Transaction Fee or Membership Fee. We chose a membership fee. The mistake was we should have given it away FREE until we built up a large user base.
A young fellow I met last year understands this principle very well. He has created one of the most popular web sites on the Internet. Check it out: www.StevePavlina.com. He gives away free information for smart people interested in personal development.
This post was prompted by a dear friend of mine who is a fellow USAF pilot of a few years ago and a graduate of the US Air Force Academy, he’s no slouch. He was curious about why I was giving away so much information on my blog.
The old school of business is to focus on transactions and revenue. I agree, this is important. However, given that I consider values of the highest importance, I have chosen to use my blog to give away as much information as I can. I believe that is important.
The next step I will be taking is to start compiling links on my blog to people I have known who give superior service. Stay tuned and you will see the links accumulating in the right hand column near the bottom, Blogroll.
“It is more blessed to give than to receive.” Acts 20:35
