Innovation: Even YOU can The world is rife with stories and testimonials of people who became billionaires overnight as new entrants into a market thought to already be saturated. The JIK and Hypo story. the Nigerian fabric bleaching market was, for most parts of the 1990s and even 2000s, dominated by JIK bleach manufactured by Reckitt Benckiser. Fast forward to a few years after that and in comes new entrant Hypo. Hypo not only came and gave JIK a big run for their money, they also made everyone almost forget that there was ever any other bleaching agent on the scene. The Facebook and Instagram story. Facebook has been around for a while. And for that time they seemed to own all of social media. Then came Instagram,launched in October 2010 by the duo of Kevin Systrom and Mike Krieger. Kevin Systrom had been,surprisingly,offered a job at Facebook which he turned down. Fast forward 551 days afterwards and Instagram is sold to Facebook for a lens-cracking $1billion! So how did Kevin and Mike build a company on one of the value propositions that Facebook also offers? Ergo, picture sharing with friends and family? Liking? Commenting? I can go on and on with examples that illustrate the power of Innovation. The ability to Innovate does not necessarily require the ability to Create...from scratch. Look around you, opportunities abound. See what is already existing. Look closely at that market that seems unfavourable to new entrants. That, really, is where you should be aiming to make your mark. Who knows, you just might be Nigerias next Dangote. Share with friends if this resonates with you.
Posted on: Thu, 21 Aug 2014 08:49:25 +0000
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