Blockbuster was an $8.4 billion company that was taken down by a startup called Netflix that successfully shifted the habits of consumers. Blockbuster thought that people wanted the experience of picking out physical DVD’s and would not want to just download a movie. They were wrong.
Howie Mandel says that ‘Deal or No Deal’ is risk versus reward, just like the New York Stock Exchange. He says the decision process is the same. “That’s ultimately what the stock exchange is about,” says Mandel.
Making the decision to in 1998 to sell the main divisions of Au Bon Pain and focus all resources on the company’s lowly Panera brand became the most stressful year and a half ever for Panera founder and former CEO Ron Shaich. Ultimately, Shaich says, even though there was “blood on the floor” initially, the stock is up a hundredfold.
Prolific entrepreneur Jon Taffer who is the producer and host of the popular TV show Bar Rescue says that the most common denominator of failure is excuses.
Lance Armstrong says that he was one of the original Uber investors staking them $100,000 at a valuation of just $3.7 million. There are reports that Uber’s projected IPO will value the company at $120 billion. Armstrong wouldn’t say what percent of Uber he still owns but it is conceivable that his stake could be worth $1 billion or more today.
It doesn’t matter how good your product is or whether you offer the best service.…