Are you the type of person that changes yourself to fit in or do you operate differently to stand out? Well society usually shuns the latter because of doubt of the unknown but praises them when they introduce a successful new idea or approach. In todays read we will dive in to the most subscribed to video sharing service with over 231 million subscribers, and show how they stood out and are now standing on top!
In the late 1900s, the co-founder of Netflix, Reed Hastings had an idea to revolutionize the way people rented movies. At the time movie rentals involved brick-and-mortar video rental stores. You remember… the game stop for movies. Hastings saw the opportunity to make a real shift in this industry by introducing a convenient online DVD rental service.
Netflix started its operations in 1977, offering DVD rentals by mail. Customers could browse and select movies from a large collection on their online catalog and Netflix would deliver it directly to them. As they observed the change in the technological landscape , they realized the opportunity to deliver streaming services. This shift was driven by their understanding of their customers desire for convenience. Netflix also introduced the option of delivering entire seasons of a show at once which spurred a binge-watching culture and had their customers hooked. This approach became very attractive and resulted in the company’s growth.
Netflix embraced innovation and disruption. They weren’t afraid to challenge established norms and take risks. As other companies stuck to traditional brick and mortar and cable options.
So how can you stand out as an entrepreneur?
- Look for a way to offer something that is a quality product, service, or content.
- Make sure it is unique and valuable
- Embrace disruption
- Prioritize your customers needs
- Adapt to changing trends
- Think Globally
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