What separates visionary business leaders from the pack? For Jack Truong, it’s the ability to identify what consumers need but don’t yet have—and then deliver it before competitors can. This customer-centric approach has become his signature strategy throughout a remarkable career spanning engineering innovation and transformative C-suite leadership.

The Engineers Perspective on Solving Problems Others Dont See

Truong’s journey began with a strong technical foundation. Armed with a Ph.D. in chemical engineering from Rensselaer Polytechnic Institute, he approached product development at 3M with a unique mindset.

“I was exposed to various divisions in my first two years at 3M, and I really had to learn and understand what the unmet needs were in those industries, and come up with inventions that deliver innovative solutions for those particular sectors,” Truong told Construction Today.

This problem-solving orientation led to significant achievements. During his tenure at 3M, Truong accumulated 11 U.S. patents and played a crucial role in developing groundbreaking products like the Scotch-Brite microfiber cloth. Perhaps most notably, he spearheaded the transformation of the Post-it Note—a product many considered past its prime—into a vibrant, versatile brand with renewed relevance in an increasingly digital workplace.

How the Contrarian CEO Sees Growth Where Others See Stagnation

When Truong stepped into leadership at Electrolux North America in 2011, he encountered a corporate environment that had essentially given up on growth.

“Back in 2011, when I joined, [Electrolux] was about a $4.2 billion business,” he told CEO Magazine. “The company saw North America as a mature market and didn’t expect any growth. In fact, when I took over, the company wasn’t growing and profit was declining.”

Instead of accepting this gloomy assessment, Truong delivered a bold wake-up call to the global leadership team: “There’s no such thing as a mature market, there’s only mature business managers.”

What followed was a textbook example of Truong’s market-gap strategy. Through thorough consumer research, he identified that while competitors like Samsung and LG were racing to add technological features, many consumers actually valued simplicity, aesthetic appeal, and durability.

“We put more focus on the design to make our products eye-catching, beautiful, and easy to use,” he explained. This insight allowed Electrolux to carve out a distinct market position, elevating the brand from third place to second in North America and doubling the company’s value—all by addressing unmet consumer preferences that competitors had overlooked.

Beyond Buzzwords and How True Innovation Differs from Superficial Creativity

Truong maintains a clear distinction between hollow creativity and meaningful innovation. He points to high-profile failures like Google Glass as cautionary tales of what happens when companies prioritize technological wizardry over solving real consumer problems.

In a September 11, 2023 feature for Entrepreneur, Truong wrote that “Google failed to understand the true unmet needs of its consumers when the company first launched its ‘moonshot’ Google Glass in 2014. Despite the ‘smart’ glasses’ cutting-edge technology, the product was discontinued after just one year. Despite its live map imaging and hands-free web navigation, Google botched its assessment of the product’s marketability — opting for a ‘clunky’ shape, overcomplicated features, and an overwrought price tag ($1,500).”

The lesson? Even the most sophisticated technology falls flat when it doesn’t address genuine consumer needs or when it introduces new problems (like prohibitive cost or awkward design) that outweigh its benefits.

The Listening Leader Who Tunes Into Unspoken Consumer Desires

Perhaps the most remarkable aspect of Truong’s approach is his emphasis on observing what consumers do rather than simply taking their stated preferences at face value.

“Creativity costs money and innovation drives value,” Truong explained. “Listen carefully to what consumers don’t say, and observe closely what they do. Only then do your innovations have the potential to change consumer behavior and create true value and demand.”

This insight highlights a truth experienced marketers understand: consumers often can’t articulate what they truly want until they see it. By studying behavior patterns and pain points rather than relying solely on focus groups or surveys, Truong has consistently identified market opportunities that others miss.

Staying Ahead When the Business Landscape Shifts

The business world’s accelerating pace of change makes Truong’s approach more relevant than ever. He warns against complacency and inertia, even for companies currently enjoying market success.

“As technology advances and consumer demand evolves, companies and products quickly can be left behind,” Truong cautioned. “Too many organizations are focused on developing, launching, and loading new technologies and features to existing products while ignoring the possibility of new solutions that actually make life easy for consumers.”

For today’s business leaders facing disruption across all sectors, Truong’s formula offers a compelling alternative to reactive strategies or chasing fleeting trends. By keeping a laser focus on genuine consumer needs—particularly those not yet being met—companies can position themselves for sustainable growth and competitive advantage even in turbulent times.

The next time your business faces headwinds or stagnation, consider Truong’s approach: look beyond what consumers currently have to what they truly need but don’t yet realize is possible. In that gap lies opportunity.