When you speak to someone about your business idea the first question that pops up is whether it is an original one. So business persons are more concerned with innovation and make their business ideas sound original. But they have not looked at the performance angle. Should every business idea must be original to succeed in the market place. Let us find out.
Your business ideas are sparks of your studied imagination. You get a bright idea in your mind based on your experience and learning and from what you read and reflect upon about how others have gone through. I just looked at the Fortune December 12, 2011 issue and read about the list of 50 Movers and Shakers profiled there. Afterwards, I superimposed the originality or otherwise of the business idea represented by four of those movers and shakers. My findings are as follows:
Original Indeed: Mark Zuckerberg Co-founder and CEO of Facebook ranks as a businessman who brought the original platform on social networking in style and relevance. Leader of the social media, Mark founded Facebook in 2004 and today its sales top 4.3 Billion U S Dollars. The present valuation of the privately held share capital is between 79 to 82 Billion U S Dollars. The financial market awaits the initial public issue of the Facebook expected to open in early next year hovering around 100 Billion U S Dollars. This is remarkable success of an original business idea
Improvement: Larry Page Co-founder and CEO of Google went on to improve the business idea of internet search engine in competition with Microsoft. He improved the technology of search engine by introducing innovative platforms such as Android Operating System and implemented it seamlessly across various products offered by Google. From Android it was easy to get into telephony and the hand set market. Just look at Samsung Galaxy Tab 10.1 and you will realize how effective Google as search engine is. It is giving strong competition to Facebook in social media by introducing Google+ which has more than 40 million users right now. Revenue for 2011 expected to touch about 40 Billion U S Dollars
Adaptation: Hamdi Ulukaya Founder and CEO of Chobani is dubbed as the King of Greek Yogurt. There is no such thing as Greek Yogurt or Armenian yogurt. What Hamdi did was to adapt the business idea of yogurt in pleasing flavours including vanilla, strawberry, peach, blueberry and honey and mixed with pomegranates and other fruits. He then presented Greek yogurt to the American market obsessed with Greek yogurt and crazy over health food. Founded in 2005, Chobani is now ranked as third largest yogurt company with sales targeted around 700 U S Dollars in 2011. Its market share in Greek Yogurt is almost 50 % while in the overall industry Chobani has about 10.4 % market presence
Re-Make: Robin Li Co-founder and CEO of Baidu is a classic example of a shaker who just did a re-make of an internet search engine in the fast growing Chinese market. Robin saw an opportunity of re-making the business idea when Google made a graceful exit from Chinese market. Modelling on Google, Robin has everything that Google did or offered. He integrated with Android Operating System and expanded his web portfolio to include search, on-line business and auction based marketing methods. Baidu is now controlling 75 % of the internet market in China
Cosmics: All four business persons profiled above took their business idea and fashioned it differently. But the binding thread that runs across them is the way their cosmics helped them succeed in their chosen ventures. It is because cosmics make each businessman succeed in a particular field or sector. Cosmics are aspects residing within everyone shaping and influencing his idea and business.
2 comments:
In my opinion, every business idea should be original in order to succeed in the marketplace. Actually, businessmen like Mark Zuckerberg, Bill Gates, Steve Jobs or Yury Mintskovsky also made their business ideas sound original and so they succeeded in their careers. Thanks for this great post! I enjoyed reading it!
Stacie,
Thank you; well said and well taken.
I would re-visit this subject and note to stress your point and say definitely something about Yuri.
Regards
Muthu
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