Tuesday, January 19, 2010

Conventional is old be unconventional

Unconventional thinking can help be a help for lot of entrepreneurs and businesses. Following a conventional wisdom you can only sustain in present situation but not in future, which is highly uncertain and subjected to change.
We can learn a lot from a big business of present how they hadn't followed the conventional wisdom.

Some of the example that is coming in my mind is Starbucks a retail chain that is famous for providing coffer brewed and served in the Italian way. The founder of Starbucks know that coffee is the largest traded commodity  in the world after oil,  conventional wisdom says don't invest in such sort of business market is stagnant and highly competitive, but what the Starbucks, they actually reinvented coffee to get the market, instead of serving tasteless general coffee available in the market they sold freshly roasted premium coffee and with new way of brewing the coffee with the option to customize it.

Another example that is come in my mind is classic 3M's post it, company had invested million of dollars in making a industrial adhesive but instead of a strong adhesive but  they actually made a adhesive which is quite weak and can't be used for industrial purposes, conventional wisdom say that investment got waste but using the unconventional wisdom mangers of 3m used this adhesive  to create post it, where there is no requirement of a strong adhesive and now this product of adhesive is huge success...... 

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