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Assessment of Disruptive
Business Ideas
Experts are usually wrong
Examples of some brilliant
ideas, innovations and creations
rejected by 'experts' as 'bad'.
AliBaba
Jack Ma, one of the most
successful entrepreneurs in the
world, went through a lot of
rejection before he was the
richest person in China. He was
rejected from Harvard 10 times.
No banks would work with him, so
Ma decided to start his own
payment program called Alipay
that is used today by over 1
billion people.
Amazon
"Every well-intentioned,
high-judgment person we asked
told us not to do it," says Jeff
Bezoz, the founder of Amazon.com.
Beatles
The then Director of Decca
Records turned down the Beatles.
He said to their promoter, 'We
don't like your boys' sound.
Groups of guitarists are on the
way out.'
Charles Schwab
In early 1990s, the leaders of
Merrill Lynch, the then largest
financial services company,
believed that e-commerce was jus
a hype. In contrast, Charles R.
Schwab, the founder of the then
tiny brokerage firm Charles
Schwab, believed that online
trading was going to become
huge.
Charles Schwab pioneered
seamless stock trading on
Internet in 1996 and went from a
tiny firm to the world's largest
financial services company. On
January 1, 2000 the market
capitalization of Charles Schwab
surpassed that of Merrill Lynch,
and Schwab became the world's
largest financial services
company. >>>
Dell
According to Michael Dell,
leading industry analysts we
two-zeros wrong when they tried
to forecast next-year
capitalization of his young
firm.
Harry Potter
Various major publishers tuned
down the first Harry Potter
novel.
Panasonic
Konosuke Matsushita began the
Panasonic’s journey by inventing
a two-socket light fixture. The
invention was rejected by his
employer, so Matsushita left the
company and founded the
Panasonic Corporation.
WalMart
Here is an advice by Sam Walton,
the founder of WalMart. "Swim
upstream. Go the other way.
Ignore the conventional wisdom.
If everybody else is doing it
one way, there's a good chance
you can find your niche by going
in exactly the opposite
direction. But be prepared for a
lot of folks to wave you down
and tell you you're headed the
wrong way. I guess in all my
years, what I heard more often
than anything was: a town of
less than 50,000 population
cannot support a discount store
for very long,"
Xerox
IBM rejected the photo-copying
idea that launched Xerox.
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