Do great ideas = great businesses?

Remember the Segway? They are still around but they were going to be revolutionize personal transportation.

Here are a few examples of great products that failed to become successful businesses:

– Google Glass: Despite being a highly innovative product, the high price point and privacy concerns kept Google Glass from becoming a mainstream success.

– Betamax: This was a high-quality videocassette format that was released by Sony in 1975. However, it failed to gain widespread adoption because of its proprietary nature and the success of its main rival, the VHS format.

– Apple Newton: This was one of the first personal digital assistants (PDAs) to hit the market. However, despite its advanced features, it suffered from poor battery life and an unreliable handwriting recognition system.

– Amazon Fire Phone: Amazon’s first smartphone had impressive features such as dynamic perspective and a unique user interface, but it failed to catch on with consumers due to a high price point and a lack of compelling apps like like it’s rival… Apple’s Appstore.

These products demonstrate that even innovative and well-designed products can fail if they don’t meet the right market need or are not executed well.

Thom and I discuss this topic in the following segment….