"Be fearful when others are greedy, and be greedy when others are fearful."—Warren Buffett
I guess the quote by the great man says it all. Mtv & Ipod, both were born during recessions. What is it that make some people view a difficult situation as an opportunity while to others it’s a dead end. We all have heard of the glass half full & half empty expression signifying optimism to some while others being pessimist by it.
So where am I heading:
Check this out. If you look at it, the general tendency of most business channels, newspapers, magazines is to discuss sectors & companies which are growing & promise to offer better returns. In short, such sectors/ companies offer returns which can be reaped.
Hang on…. but what about the companies which are in declining sectors & are being looked as unattractive. Do they offer any opportunity.
Let s take an example of Circus Du Soleil. In a time when the circus industry was being looked as an unattractive industry with a wide variety of alternative entertainment options (TV, playstation, multiplexes) available, Circus Du Soleil re-wrote the rules of the game. Inshort it made circus cool again.
So whats the point.
I think Industries/sectors/companies which are not performing well or are being written off offer a greater incentive & opportunity to Innovate & re write the rules. I think the problem is not that people don’t need goods & services of companies which are not doing well but in most case it’s the conflict in the alignment of whats the company is offering & what people wants. Through Integrative & Design thinking one can relook the value that is being desired & what the company can offer & thus think of models which satisfy human needs &rewrite the rules.