(Newswire.net — March 2, 2018) — The business world is full of lessons if the successes and failures of large corporations are examined. History tends to repeat itself as people making the same business mistakes are bound for a similar result. Modeling a business after one company completely is not wise but rather taking sections of different businesses to model after is a better strategy. Every industry is different but a modification of most of the below mentioned wins and losses will help make it work in your niche. The following are lessons that can be learned from huge brands successes and failures.
Ecommerce
Mentioning ecommerce success with Amazon coming up should be considered a mortal sin. Amazon has driven innovation when it comes to ecommerce with a variety of perks that other companies have tried to model themselves after. Amazon did a great job at expanding what they have specialized in. The purchase of Whole Foods has given the company the ability to offer delivery to your doorstep in a matter of hours. The other fact that Amazon drove down the sometimes high pricing at Whole Foods has made another impact. Drone delivery might seem a little too far fetched for many to believe but underestimating Amazon at this point is a mistake.
Online Security
Online security has become paramount in every industry that utilizes a computer at all. Customer and employee information can be breached which is catastrophic for any size business. Two of the largest failures in respect to this are Home Depot and Target who had millions of customer credit card details leaked. Not only did this end up costing the companies millions of dollars in restitution, there was trust lost as well. If these huge brands could have such a data breach then it could happen to any company that is not prepared. Setting up a VPN as well as backing up information can be used to help security for a business. Enlisting a cyber-security firm can be a great idea as you will have constant monitoring as many of these companies have 24 hour support.
Content Marketing
The world of content marketing is constantly evolving with a few brands always seeming to adapt and thrive. Airbnb is one of these brands as they have now not only done incredible work marketing online but also have a print magazine. They have already had interviews with some of the biggest names in the world including Elon Musk. Airbnb is incredibly successful but they keep driving their content marketing with high quality content on an almost daily basis. They have even used data to show their economic impact on specific cities which is far larger than many people realize.
Reinvesting in New Ventures
Facebook has done an incredible job of reinvesting in new ventures that have allowed them to diversify their income stream. The purchase of Oculus Rift was one that many in the stock market doubted as the shared dropped at the announcement. This then became the best virtual reality gaming system although it still has work to be done. Instagram is another company that Facebook purchased that is thriving. Purchased for $1 billion the social media giant is now worth in some estimates up to $100 billion dollars. Zuckerberg could have rested on the billions of dollars made and will make but has changed the social media as well as gaming world. Investors in the company might have been worried about early investments but now all should trust Mark to make them quite a bit more money.
Learning from the successes and failures of other companies can help you avoid the mistakes that they have made. Modeling after success does not guarantee success but it does give a blueprint of how to proceed. Learn from others and turn your company into a juggernaut.