Archive for the ‘Entrepreneurship’ Category

Two lessons from Apple to entrepreneurs

Sábado, junio 6th, 2015

Apple is a company that it is always in the news since in 2007 decided to change mobile telephony, as we knew it. It is true, that previously, they were able to capture press attention but not as it has been since then.

Their ability to create great products is, without a doubt, their best PR. They are also very good at keynotes.

But, that´s not why I am writing today. I want to talk about two excellent characteristics of Apple as a company.

First of all: they don´t create new products, they improve what someone else has already done. They did not make the first mp3 player, but changed the industry with the iPod.

They didn´t make the first touchscreen phone, but built the iPhone and made history.

Right now, they are with their iWatch, and again, it is not the first of its kind but it promises to revolutionize the way we look at smart watches.

For entrepreneurs, it is very interesting to apply this concept: sometimes it is better to wait and be second or third to succeed that being the first and not getting it right.

Apple innovates over what it is already on the market. They seem to observe new trends and what is going to be for at least 5 to 10 years on the market before making any new product portfolio.

So, for them, it is not about being the first, but learning for them.

Secondly, Apple is eager to cannibalize their products and not afraid of doing so. With the iPhone, they killed the iPod. And now, with the iPhone 6 +, they are killing the iPad. Why is that? Because if they don´t do it, someone will do it for them. Instead of waiting to be eaten, they decide to eat it themselves.

Again, it is a very important lesson for young entrepreneurs: if you are able to create a great innovative product, star thinking about killing it, before somebody else does it.

Most of the time, the entrepreneur falls in love with the product or service that is creating, makes an impact and does not realize that there is another entrepreneur thinking how to improve it or change it.

If Apple continues with these two ideas on mind, they might be able to keep their status and value in the market. Job´s charisma is gone and his legacy might still be present in their road-map, but for how long?