Thursday, October 27, 2016

Accidentally Found Business/Product

It happens sometimes that great things are discovered/created  accidentally or by failures. Imagine that you have started your journey to go to a beautiful hill station. You have heard that it is beautiful & are in full mood to enjoy. Suddenly something happens & you end up in a place near it. But this place is just as beautiful, as serene, as cold and as silent as what you had heard or imagined. In fact, you enjoy this place so much that you recommend this to your friends & relatives. You see, you discovered it accidentally.

Some of great products have been discovered in this way. Daily examples include the never boring Jeans. It was actually a failed product which they were making for tent. But it was not as hard as what they had wanted. Then just after some thought they made it into Pant & rest is history.

Similarly, 3M product- stick notes. They were actually making a glue, but something went wrong. Again it was not as sticky & they got it wrong until they discovered another product using same failed glue- Post it- sticky notes.
It is not necessary that you continue to do what you do. If you find some different product, application, service in your present business area & holds more business potential, you may consider that. One of the best example is that of Chik shampoo. This small company took a behemoth like HUL and created a market which has become the order of the day today. They started giving shampoo in small sachets @ Re 1. It ran very well and they are considered as pioneer in small packaging. Now, you get everything in micro packets - washing powder, shampoo, hair oil, Masala, Chip, kurkure, etc.

You can take a lesson from failure also, & by thinking differently.

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