Consider Sony Corp.’s Walkman: It made music personal and portable back in 1979!
How did they get from their Plan A to a business model that worked?
Why did they succeed when most new ventures crash and burn?
If the founders of Google, Starbucks or Pay Pal had stuck to their original business plans, we’d likely never have heard of them.
Instead, they made radical changes to their initial models, became household names and delivered huge returns for themselves and their investors.
For Apple there were , perhaps because some of what they did was unsuccessful.
For the i Pod and the i Tunes store there were several important antilogs.This better way is about a business model that really works: a Plan B, like those of Google Inc.and Starbucks Corp., which grows out of the original idea, builds on it and once it’s in place, helps the business grow rapidly and prosper.First, an uncomfortable fact: The typical startup process, whether in nascent entrepreneurial ventures or in the innovation units of established businesses, is largely driven by poorly conceived business plans based on untested assumptions. Most new ventures, even those with venture capital or corporate backing, share one common characteristic: They fail.There is a better way to launch new ideas — without wasting years of time and loads of investors’ money.Whether or not Twitter will develop a viable business model remains in question, but the Twitter story is a powerful reminder that an entrepreneur’s main job is to flawlessly execute the business idea so lovingly articulated in his or her business plan.It’s to embark on a learning journey that may, on occasion, reach the destination that the initial plan had in mind.Then there was Napster Inc., another analog, whose 26 million users were downloading music one tune at a time (illegally, as the courts eventually decided).But analogs — predecessor companies that are worth mimicking in some way — are only part of the Apple story.Jobs showed how well he understands the value of applying an existing idea to his business: “Picasso had a saying: he said good artists copy, great artists steal …and we have always been shameless about stealing great ideas.” Apple’s revenue on i Pod sales in the first year alone was 3 million.