Instant Traction Myth: Rolex

Founders/Inventors fail because they expect traction to show up like a lottery win instead of a compounding system.Traction comes from: Repetition. Relevance. Relentless refinement. And a system that compounds. NO FOLLOWERS Podcast Episode 28 from the First Strike Incubator. Share your questions, comments, follow, subscribe & join the conversation plus reach out to the In Focus Brands' Portfolio for your business, product or idea launch, growth, scale, operations, GTM and fundraising needs.1:06 An instant traction myth episode.2:00 Hans Wilsdorf and Alfred Davis found Wilsdorf & Davis in 1905.3:30 Fashion in 1905 was for pocket watches.4:05 It was called the wristlet watch.4:45 The entrepreneurial journey; wrong...wrong...wrong...right.4:54 Hans knew wristwatches were the future.5:25 They were the first to focus on precision movements in wristwatches.5:42 W&D watches are white labeled through jewelers.6:08 Hans trademarks "Rolex".7:07 What is your favorite watch brand?7:52 What do you think of when you hear the word "Rolex"?8:20 They were the first wristwatch to be awarded a certificate of performance.8:55 In 1914 they were awarded a Class "A" Precision certificate by the Kew Observatory.9:27 In 1919 they relocated to Switzerland.10:02 1926 was a game changer for them.10:20 It took 21 years to get them on the trajectory that would roll them into "Rolex".10:28 In 1926 they released, the Rolex Oyster case, the first waterproof wristwatch.11:39 I'm trying to find things everyone thinks had instant traction but did not.12:01 What if they tried to make the first dustproof/waterproof watch in 1905?12:32 Find the mvp. The best way to raise money is to sell product.12:58 What do you do when you have an idea? What do you do next?13:36 They distributed through jewelers at first.14:10 Packaging and distribution are the two things most people overlook.14:45 In 1931 they had the first self-winding wristwatch.15:33 A lot of their marketing was geared toward outdoor adventure.16:27 They could set their price because of their innovations.16:56 Rolex was rolled into a non-profit trust.17:37 They produce a million watches a year and have a revenue of $13+ billion.17:45 Get to market, understand the distribution channels and market need and get to revenue.17:56 Innovate, iterate and keep moving forward.18:05 Rolex is not an instant traction story.