The worst missed business opportunities
Business

The worst missed business opportunities

In an ideal world, the people who work the hardest will be the most successful and earn the most money. In the real world though, this is not the case. It is important to realize that business intelligence and academic intelligence are two entirely different things.

Sometimes people who are not the most intelligent academically are actually some of the smartest people in business as can be proven by the case of US President Donald Trump. Most of us would argue that Trump is not an intelligent person as can be seen by his outrageous social media outbursts. However, due to his success in the World of business, it is hard to argue that he is not smart in terms of negotiating deals.

The business world can be hard to predict especially in the modern age where technology is constantly advancing. Below are some decisions taken by well-known businesses which had bad consequences.

  • Everyone remembers Motorola. They were a leading cell phone manufacturer during the early and mid 2000’s and produced widely held models such as the V360 and the Razr. They however only decided to start producing smartphones in 2010. This led to the phone falling down the pecking order in terms of cell phone manufacturers.
  • In early 1962, Dick Rowe of Dacca records decided to turn down the Beatles as he believed that Guitar bands were on their way out. The Beatles instead went on to sign for Parlophone and went on to become one of the best known and successful bands of all-time, selling more than 200 million records.
  • Netflix had hoped to join hoped to join Blockbuster during the year 2000. Blockbuster then had a revenue of more than $6bn per year which was gained through their 9000 video and DVD rental stores throughout the world. Blockbuster has since become extinct while Netflix generates around $152 billion per year.
  • In 2010, the News Aggregation service Digg rejected a proposal from Google which would have earned them $200 million.
  • In 2008 Yahoo co-founder Jerry Yang turned down an offer from Microsoft which was believed to be in the region of $44.6 billion. Yahoo has since continued to decline.
  • In 1999, search engine Excite had an opportunity to purchase Google for just $370k. Instead they rejected and Google have since established themselves as a mega-brand and are likely to dominate the internet for many years to come.
The worst missed business opportunities