How competitive is your business? Did you know that it is cheaper to innovate than it is to compete? In 1997 Apple was on the verge of bankruptcy. That year Steve Jobs came back to Apple the company he co-founded and they began to innovate. Apple’s first advertising campaign was “Think Different”.
Last week Apple posted the greatest quarterly profit in corporate history, 18 billion dollars on revenue of 74 billion dollars. When Apple introduced the iPhone in 2007, total revenue for the company was 18 billion dollars. The iPhone represents 69% of total revenue. To give you an idea of the massive scale Apple has achieved with the iPhone, consumers purchased 34,000 iPhones every hour last quarter.
How are you thinking different than your competition?