- December 12, 2021
- Posted by: Robert Brown
- Category: Investing
Each of us in business often look around us at successful companies to attempt to figure out the formula for success that each was able to create. And each of them have succeeded for different reasons, not just one. If it was that easy we’d all enjoy it because we’d simply copy it.
One successful Company, Google, found their success in creating a parsed-up ad unit for the Internet, delivering multiple text ads in the same space that a typical space ad would use. The cost to each was then lowered and adoption occurred very quickly. Results for advertisers is what made Google successful – clicks and calls converted to business activity.
Apple is successful because of the quality of product and the quality of packaging.
Microsoft enjoyed many years of success because they were the first to create a simple way for the average person to digitize and move their information. Now the landscape is full of many competitors but still the small/medium business is hooked on their products because they don’t have to learn anything new.
Costco is another name that comes to mind – bulk buying and reselling with low margins drives their business.
Facebook has roared onto the social scene on the Internet and has created the largest base of users who interact with each other, compared to none.
Groupon made the coupon flourish on the Internet which got them a $6 billion offer to buy which they turned down to opt for an IPO. This is tremendous 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 an article it’s not possible to cover all of them. So, what do they have in common?
The marketplace was ready; people needed what was developed to solve problems. For example, the Internet was young and Google saw the opportunity to parse up an expensive ad unit and bulk buy space and resell it – everyone needed a cheap way to advertise that got results and everyone jumped on board. Apple is the designer computer – which many people like for that reason. It’s a cut above in the mind of users and even non-users (who don’t feel they can afford it). Microsoft offered ways to manage content when we all needed to get organized in the new digital model.
Costco figured out how much Americans love to buy lots of stuff; makes them feel safe. Facebook was just at the right time in the right place and understood the need to expand beyond the college scene. And Groupon used the recession to help people save money.
Finally, beyond the timing there must be something else. There is but sometimes you get surprised about how you could do the same exact thing at another time and have failure. So, create your intellectual property and find the right time to deliver it and you too will find success.