I always talk about how the market morphs different inventions so they get used differently than the original business plan. I love the story of the telescope. Hans Lipperhey invented it in 1608. It was a big hit in Europe…for futures trading. Apparrently, the first market application of the telescope was spying on cargo ships to “bet” when and if they would arrive back safely. (In 1608, the earth was also the center of the universe- alittle issue the telescope helped Galileo solve later.)
In business, venture capitalists reports that 80% of the businesses they invest in, 5 years later, have morphed their business into doing something else. eBay and Nokia did not start as their current business iterations. Don’t be afraid to listen to your customers and the market during these economic times – you made need to change and evolve your product or services.
