Page 22 - Masala Lite Issue 161 May 2024

LAGOM IN ACTION

Despite emerging trends favouring blended products, incorporating diverse perspectives
into your business isn’t straightforward. I personally grappled with this until I participated in
an international ‘hackathon’ in Ireland, where we were tasked with developing a conference
identification badge that would captivate attendees.

Our electronic badge, which had image and video capabilities, reminiscent of Arthur C.
Clarke’s “3001: The Final Odyssey” nanochip concept, aimed to facilitate serendipitous
interactions among conference-goers through embedded tracking. However, achieving
What Is Lagom? consensus proved challenging as engineers and marketers clashed over product-centric
versus market-centric approaches.
Darshan Mehta talks about how this concept can create a Only by finding a balanced, blended solution — lagom — did we create a product that
more balanced approach to work and life. satisfied both sides’ objectives. A successful product must address market needs, while
maintaining equilibrium. Imbalance could lead to a tumultuous and potentially-fatal launch.

PRODUCT-MARKET FIT THROUGH BALANCE
In the Global Innovation Index 2023, Switzerland and Sweden maintained their lead,
consistent with previous years. What sets these countries apart as hubs of creativity? The book “Nail It Then Scale It” emphasises the importance of
Having lived and worked in Sweden, I’ve come to attribute their success to a single word: early customer feedback, stating, “Would you rather discover
‘lagom.’ Lagom, like many non-English concepts, is challenging to translate succinctly. It you’re wrong now, or a year and thousands of dollars later?”
embodies a cultural ethos rather than a mere linguistic term. But what exactly is it, and This echoes my experience spanning over two decades in the
how can we apply it in both work and life? entrepreneurial and corporate realms: early product-market fit
significantly boosts the odds of a startup’s success, necessitating
Lagom is being sufficiently balanced. Not like a levelled seesaw, a balanced approach, or lagom.
but having just the right amount of something for a given situation. The common
Swedish proverb, lagom är bäst, which roughly translates to, “the right amount is best,” Entrepreneurs often neglect listening to users due to their passion
is similar to the English phrase, “everything in moderation.” for a specific solution, a flaw evident on shows like Shark Tank.
Recognising the significance of exceptional listening skills was
pivotal for me in achieving product-market balance. This entails
Discovering lagom requires practice, particularly for those unfamiliar with Nordic upbringing
where it’s ingrained. Yet, it could be pivotal for businesspeople stuck in unproductive accepting others’ ideas, engaging in sincere and curious challenges,
cycles of product creation and futile user searches, as well as for those seeking improved and having repeated, meaningful customer conversations.

work-life equilibrium. ALWAYS FOCUS ON THE CUSTOMER

THE BARRIER OF BLACK-AND-WHITE THINKING As an entrepreneur, I’ve learned the importance of directly understanding customers’
needs through conversations. This approach shapes my business strategy, guides product
A barrier to embracing a lagom mindset is the prevalence of binary thinking: left or right, decisions, and underpins my teaching philosophy, fostering loyalty. Shifting focus from
yes or no. Certainly, there are times in life when such starkness makes sense; no one would ‘what’ to ‘why’ in decision-making is crucial. Research suggests that much of our decision-
argue, for example, that at a train crossing, you should sit halfway through the tracks. making is subconscious, making it essential to uncover customers’ thoughts and emotions.

But in the business world, effective solutions and answers are rarely black-and-white. While challenging initially, engaging in conversations with customers and strangers helps
Unfortunately, many struggle to see shades of grey when it comes to product development break self-centeredness, fostering genuine connections and achieving balance.
or product-market fit. Thus, throwing convention out the window sometimes leads to Darshan Mehta is the founder and CEO of Carmina, a Latin cuisine restaurant in Bangkok,
success. For example, you may ask, “Why can’t I connect travellers with local hosts for and the host of the “Getting to Aha” podcast. He also the founder of iResearch, an online
a new travel experience?” or even, “Why can’t I create a taco shell made with Doritos?”
insights platform that enables companies to quickly, easily, and affordably extract insights
from consumers or employees worldwide. He can be reached at dm@iresearch.com.