Each of us in business often look around at successful companies to try to discover the formula for success that each one of us could create. And each of them has been successful for different reasons, not just one. If it were that easy, we would all enjoy it because we would just copy it.
A successful company, Google, found its success in creating a analyzed ad unit for the Internet, delivering multiple text ads in the same space that a typical space ad would use. Then the cost of each was reduced and adoption occurred very quickly. Results for advertisers is what made Google successful – clicks and calls turned into business.
Apple succeeds because of the quality of the product and the quality of the packaging.
Microsoft enjoyed many years of success because they were the first to create an easy way for the average person to digitize and transfer their information. Now the landscape is full of many competitors, but small and medium-sized companies are still hooked on their products because they do not have to learn anything new.
Costco is another name that springs to mind: Low margin wholesale buying and reselling drives your business.
Facebook has entered the social scene on the Internet and has created the largest user base that interacts with each other, compared to none.
Groupon made the coupon blossom online, earning them a $ 6 billion buyout offer that they turned down for an initial public offering. This is a huge success considering the company is only a couple of years old.
And of course there are many more names that come to mind, but for one article it is not possible to cover all of them. So what do they have in common?
The market was ready; people needed what was developed to solve problems. For example, the internet was young and Google saw an opportunity to analyze an expensive ad unit and buy space in bulk and resell it – everyone needed a cheap way to advertise that would get results and everyone joined. Apple is the designer computer, which many people like for that reason. It’s a top cut in the minds of users and even non-users (who feel they can’t afford it). Microsoft offered ways to manage content when we all needed to get organized in the new digital model.
Costco found out how much Americans love to buy a lot of things; makes them feel safe. Facebook was at the right time in the right place and understood the need to expand beyond the university scene. And Groupon used the recession to help people save money.
Finally, beyond time there must be something else. But sometimes it amazes you how you could do the exact same thing at another time and fail. So create your intellectual property and find the right time to hand it over and you too will find success.