What makes a company, or a business idea, successful? When a business is in its infancy, there’s often a fine line between success and failure.
An important guiding principle for companies is to build a strength-based model that focuses on previously developed talents and skills.
Many successful companies have grown from one individual’s expertise. Mrs. Field’s Cookies, now a franchise with over 400 locations, began when one woman—Debbi Fields—began selling homemade cookies to people on the street.
Describing the inspiration for her cookie business, Debbi said, “ I could hear my father’s voice telling me that wealth was doing what you loved, and what I loved was cookies. So, that night, I gathered myself together and set out to become a somebody.” From these humble beginnings, Mrs. Field’s Cookies grew into a multi-million-dollar company.
Another successful strategy is finding new uses for existing talents. Rick Garcia, veteran news anchor, has also played roles in several movies. In these movies, Rick Garcia acts as a news anchor, drawing upon his real-life experience to develop a side career.
Other professionals besides Rick Garcia have experienced similar success. Since retiring from his career as a talk show host, Larry King has been featured in several movies and infomercials. In many of these roles, King is featured as a talk show host.
Entrepreneurs can also launch products based on their personal talents and interests. Marlene Stell, a former teacher, developed a 10-million-dollar cosmetic company based on her passion for makeup application.
Building on existing talents and skills is a simple, yet effective strategy for developing a strength-based business model.
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