The James Altucher Show: How to find the right innovations in the challenging time with Reggie Fils-Aimé
In this episode, Reggie talks about his time in Nintendo, how he elevated Panda Express and made it into a national chain restaurant, and how he became the Gaming Community's Meme! Listen to the full episode here:
2. Who is Reggie Fils-Aimé
An American businessman best known for being the president and chief operating officer of Nintendo of America, the North American division of the Japanese video game company Nintendo, from 2006 to 20193. Quote 1
The best way to engage with your audience is to be authentic and to do things that come right from the heart.4. Quote 2
I don't believe in going quote-unquote, head to head against your competitor. All that means is it becomes a money game. Who's going to outspend I do believe you're much better off thinking about your own strengths, right? What do I do really, really well? Thinking about your competitor? What is it that they do? Well, where are their weaknesses, and ideally, finding that intersection of what I do well, and what is their weakness and going at that vector, and pushing that agenda and whether you do it with your current brand, or whether you do it with a different brand? You know, I think that's, that's a nuance in the details.5. Quote 3
When you innovate, the fact is, not every new idea is going to work. And so Nintendo continued to innovate with a concept where, you know, they hoped you would play your games, both on the big screen TV, as well as on a smaller handheld device, they saw interesting ways of creating new types of content. And to support this innovation, they launched a product called the Wii U, which did not do well in the marketplace. For a variety of different reasons, the games were not there to support the ongoing sales. The communication of the core benefits of this system was difficult to explain. And so that product didn't do as well. But the company did learn that their core idea of big-screen gaming, as well as gaming on the go, was a critically important and very positively perceived idea. So that led to their next innovation called the Nintendo Switch, which is out in the market today. It is the best-selling system that Nintendo has ever had, in terms of home console sales, and it's continuing to disrupt the marketplace.
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