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The best businesses are the old business.What society really wants to see in a business.
Remember these guys?
Inventions should build from previous inventions
After more than two decades of living on this planet i have seen a good amount of new business pop up and old ones perishing. I put some thought about what makes a good business successful and have discovered a pattern throughout history. Im no business owner or have any credentials i can show but i wish to spread the knowledge i have discovered from my observations.
What makes a good business?
I will like to use the example of one of the many companies that close down years ago, called Blockbuster.There use to be one a few blocks down from house and i will always go their to buy DVDs , back in the days (ealy 2000s) not everyone was fortunate enough to be a cable television subscriber and DVDs were the only alternative form of entertainment that was available. You would think a business like Blockbusters would grow indefinitely. However, that was not the case.Blockbusters went bankrupt in 2010 around the same time Netflix entered the game.Netflix changed the game completely, now i dont have to walk down a few blocks to get my entertainment. I can get it without leaving my coach or bed in the morning with just a few mouse clicks.
Ancient Rome and White House
The Secret: Dont "invent" but "recycle" ideas
The beginning of Netflix opened my eyes to consumer wants and needs.What people need and want is very similar to what people in the 90s , 80s , and all the way back to the beginning of civilizations. My argument is that people dont want "new" ideas they want the old idea with an easier touch to it. Im sure if you look hard enough you can find many examples of things in our society that have a connection to early civilizations like Rome, Egypt, etc. Its the same thing but just has a more modern touch. Netflix gave people movies and tv shows the same way blockbuster did but Netflix was alot easier to obtain than walking down or driving to the store. Now Netflix is booming while blockbuster is nonexistent.
I can use this argument for many things like laptop computers ( a portable PC is more efficient), game consoles, etc. They key to successful business is not a new idea but an old one but just more efficient.
Leave me comment , share your ideas, do you agree/disagree?