When a company identifies how to integrate the processes needed to give the consumer a sense of job completion, it can blow away the competition. A product is easy to copy, but experiences are very hard to replicate.
Most people have never thought through how they're going to allocate their time. You need to make a decision in advance.
I brought one big question with me to Harvard. Why do smart companies fail?
By doing what they must do to keep their margins strong and their stock price healthy, every company paves the way for its own disruption.
As a general rule, if you have a product that doesn't get the job done that a customer is needing to get done, then often you have to offer it for zero. Because if you ask for money for it - because if it doesn't do the job well, they won't pay for it.
What's unique about the Mormon Church is that it encourages inquiry. I really do think my research and religion are all on the same page. I never could have come up with the notion of disruptive innovations, which went against a lot of conventional wisdom, if I hadn't been raised to always be asking questions.
I helped start a ceramics company called CPS Technologies. We took it public in 1987 at $12 a share. Three months later, there was this horrible cliff: Black Monday. Fidelity had bought 15 percent of our stock, and their algorithm caused them to dump it all onto the market that day. We dropped from $12 to $2.