QUESTION #4: MARCH 27, 2020
(This image is my answer to this question. The domain pets.com is now owned by Petsmart.
I spent a lot of money on pets.com back in the day and still buy a lot
of pet products online.)
How many businesses have you seen failed that you thought were ahead of their time? What do you think of companies being before their time? Did these failures eventually lead to the right time?
I think that price line was definitely ahead of its time with the whole airplane seat idea. It seemed really genius to me and I was surprised that it didn't become more successful. I think that this type of company was the foundation for businesses in the future, when the public was finally ready for them.
ReplyDeleteI completely agree that these failed innovative companies do inspire the future of companies and can have an indirect impact on the future.
DeletePriceline was genius in my opinion but it needed more people trusting the internet to give accurate pricing information. I think their ideas were good, their business strategy was just terrible with the "losing to gain" mentality.
ReplyDeleteIf you were priceline how would you have done it differently?
DeleteI don't think snything could have been done because you cant see the future and, at least for me, the only solution I see would be waiting.
DeleteHannah - In agreement with Erin, it's really a matter of knowing your audience. They were going to fail no matter what they did, they didn't go about things in a way that prepared people for them, not that they could've. It's not easy to go about things that were before their time.
DeleteI agree that Priceline was a good idea. When I was reading, I actually thought about how cool it was, but they definitely needed a better business strategy. If I were Priceline, I think I would have taken less business risks, but I truly believe they had a good idea.
DeleteI agree with Hayden and Erin. An idea can be absolutely genius- pure gold- but if people aren't ready yet and unwilling to spend money, it can't go anywhere
DeleteI remember Blockbuster failing which was very unfortunate because they were beaten out by online movie services like Netflix and Hulu. I think that Blockbuster was right for the time period but today, would be obsolete. I think the failure of Blockbuster lead to the right time.
ReplyDeleteI miss Blockbuster. It was fun to walk through the aisles and pick a movie. Also they sold candy and popcorn... and Pokemon cards.
DeleteI agree I miss going to Blockbuster too... memories
DeleteBlockbuster was cool, but I agree that it would get no business in this day and age.
DeleteI also miss Blockbuster :( When I lived in NY we had one a few blocks away and we'd go there almost every week.
DeleteI agree that the concept of Blockbuster definitely carried over to Netflix and Hulu, and it was the right time for them.
DeleteI don't remember seeing any particular business fail that I thought was ahead of my time. I feel that if a company cannot pivot and thrive during its particular time period shows how sustainable the company is. If a company has to around during a particular time period it probably isn't good to have them be around before hand because they'll just clog up the market. By having these companies fail it kind of lays the blueprints of the future but there are so many contradicting blue prints you have no clue what is going to happen.
ReplyDeleteThe computer was invented in the 19th century but they didn't have the mechanical expertise to produce it in the way that WWII eventually enabled the government and industry to do. Sometimes and idea can't thrive because humanity hasn't caught up yet.
DeleteI can't recall seeing any businesses that were "ahead of its time". I think that the outcomes of business ideas that are ahead of their time are unfortunate, because it means the idea was great, but they did not have a way to produce the necessary technology to do what was needed. After all these failures, solutions were produced, causing other companies to step in with past ideas, just in the right time.
ReplyDeleteOff the top of my head, I can't really think of any businesses (but I'm sure other people will say things and suddenly my brain will work). I think sometimes companies just don't have access to what they need to make their business function well, or they don't have the audience they need just yet. But I think that if the world keeps rapidly changing, those ideas will always come back into play. Someone with better connections/facilities will find a way to make it work, or there will be a population that has a need for the business. I think in some cases it's really just a matter of time
ReplyDeleteI agree it is a matter of time, when the time is right a company will take off. What sucks is that a company can have a really good idea, but just not be supported by the society around them.
DeleteGood point about ideas always coming back into play because the world is constantly evolving. Good ideas will always stay good ideas and even if the time isn't right for one company, it will probably work out better for another one.
DeleteI think Sears is an example, they were a big company at a certain point until they were beat by others like Khols. Companies being before their time is unfortunate for them, because they had a great vision in mind but nobody else could see it, and they failed. These failures did spark the future, and make the time right for others.
ReplyDeleteThis might not be a "before their time" but a "not keeping up with the times". Sears was awesome when I was a kid - their toy catalog was legendary - but they never really pivoted to ecommerce.
DeleteI think a lot of the companies in the book struggled through profit loss, like eToys, which was ahead of its time by moving childhood toys to the internet. It was interesting that eToys still didn't make enough money as Toys R Us, though, which only had brick and mortar stores. I think the failure of this company led to the right time for Toys R Us to finally move to the internet and be even more successful.
ReplyDeleteI agree with this. I think Toys R Us was successful for a very long time with the brick and mortar stores for our generation... RIP Toys R Us.
DeleteToys R Us couldn't compete with Amazon...
DeleteI think it just took a little bit for society to be ready to function so heavily through the internet. And when it was ready, almost everything transferred online
Deletewith my parents growing up as graphic designers and working in the web i saw a lot of projects that they worked on either not take off or their ideas were taken by bigger companies. i think its sad that someone can have a great idea but no body is ready for it yet. i think the market is cyclical and a lot of ideas that people had back then are becoming popular again i.e. pets.com --> chewy.com -anabell
ReplyDeleteI bet they worked on more failures than successes (as have I), but people have to try and hopefully learn from a failure.
Deleteanabell- they were definitly all learning experiences, its good to see what works and what doenst work
DeleteI don't think Blockbuster was necessarily ahead of their time, but I think there were things they could've done to stay current. I think eToys was ahead of its time because Amazon's toy selection is basically the same thing and they are most likely the reason ToysRUs failed. While eToys did not remain successful, Amazon basically does the same thing and they started this at the right time. I think that it's sad to see companies fail and other companies succeed doing the same thing later on.
ReplyDeleteTiming really does play such a large and powerful role in business. It is interesting that no one can truly control that and the rise and fall of businesses ahead of their time are bound to happen. I think that good ideas can come around again but luck plays a large factor.
DeleteLooking at Priceline or things like pets.com. They all had a place where they made a certain foundation for the future. It's very interesting, how many things go out because people aren't ready or prepared.
ReplyDeleteanabell-they couldnt handle the power of that scary hand puppet
DeleteSounds like facts to me.
DeleteI'm sorry the hand puppet disturbs you.
DeleteI'm personally a big fan of the puppet
DeleteI believe we owned the hand puppet when my kids were little :)
DeleteI can't think of any businesses that didn't work out strictly because they were ahead of their time. I think that companies may not approach the creation of the business in a way that is suitable for the company, making them relatively unknown. Other companies can use these ideas to establish a better company for the service or product. So yes, I do think that the wrong timing can lead to the right timing.
ReplyDeleteWhen I first read about AOL Time Warner, I thought it was a smart idea. It was combining a web service with a media company in an attempt to be an ultimate powerhouse across many platforms. I think companies being before their time is interesting because it takes time for people to adjust to new ideas that seem unrealistic or far fetched. I think that some failures can lead to the right time. The world is constantly changing and evolving and some things can be implemented in a different way. A good idea seems to find its way to people.
ReplyDeleteWholesomeOne was a company my dad ran for a while when I was younger. It focused on wholistic health and I think it was ahead of its time. I think it could have been successful today because of the health craze that has swept the world recently but at the time it didn't pan out. the domain is still up if anyone is interested. I haven't seen it in a while.
ReplyDeleteWow you'd think that would be successful especially in this day of mindfulness and healthy living. I will go check it out right now!
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