Friday, June 13, 2008
Businesses rarely re-invent the market, even though this is the best way to prosper
Companies are prisoners of received wisdom. It is very difficult for them to have an open enough structure and mind to really look at any business in a different way. It took Starbucks and Peets to reinvent how consumers drink coffee, not Folgers or Maxwell House. Apple reinvented the way consumers listen to music, not Sony. Companies have to be able to let go of pre-conceptions, and few can.