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Is listening to the market the most important thing a business should do?

It may seem like the most fun thing you can do as an entrepreneur is to day trade and make money off of every fluctuation in the market with no need to invest in long-term strategies, but all of this falls apart, eventually.

The reason for this is simple.

The market can’t listen to itself, so it will always be in a pendulum swing state from time-to-time. One is better off focusing on a long-term strategy to sustain their product and not bend on taking advice from people who are just trying to sell something — such as themselves.

A company should really listen to its customers, even as those customers often have no clue what it is they truly want. Still, a brand whose sole strategy isn’t beyond listening to the market is destined to fail.

Photo by Bethany Legg on Unsplash

This post was originally published here.