It is amazing how some brilliant people and thought leaders get so focused that they miss true opportunities. This is proof that technical genius is NOT necessary for entrepreneurial success. Michael Dell is one of the people that brought the computer to the masses and he didn’t complete his degree. His products were not all invented by his company.
But, he had a solid business model.
So… what happened to Digital Equipment Corporation?
The giants who control mature markets always bear the burden of supporting those markets, long after they quit growing and being profitable. Inevitably, they begin charging customers more for less and stealing customers from their competitors. Market cannibalism. There are no more new food sources so they begin eating their own.
This is a perfect opportunity for innovators to find opportunities. The early group of disgruntled customers are looking for a new solution to the pain they are feeling. They are often willing to try new things, just to spite their existing providers.
The truly visionary innovators create the platforms people migrate toward in advance of any hint the existing market is poised for failure. That is where iPad, Netflix, Vonage and Roku came from.
Go find a market where the leaders are saying negative things about the new players. Better yet, go find a market where they are screwing their customers. There’s opportunity!