If your business idea has been slammed or rejected, take solace from the fact that many world-changing ideas were dismissed as non-runners.
1: “There’s no chance that the iPhone is going to get market share.”
The launch of the iPhone by Steve Jobs (pictured) signalled the dawn of a new era for mobile communications – the age of the smartphone. The iPhone, however, had some strong and influential critics before its release. One of its most famous detractors was the Microsoft CEO, Steve Ballmer. In 2007, Ballmer was adamant that there would be no place for an iPhone and stated, “There’s no chance that the iPhone is going to get any significant market share. No chance. It’s a $500 subsidised item.” Apple currently has the second largest market share in the smartphone industry with 14% and is currently valued at over $700 billion.
2: “The potential world market for copy machines is 5,000 at most.”
While it’s understandable to harbour doubt over certain ideas, how could anyone doubt the potential for a photocopier? “The potential world market for copy machines is 5,000 at most”. In 1979, IBM gave this piece of advice to the eventual founders of Xerox. They were of the opinion that there would be no demand for it and that they should avoid bringing one to market. The photocopier, as you know, is the cornerstone of any functioning office. In 2014, Xerox had revenues of almost $20 billion. It’s safe to assume that the world market for photocopiers is more than 5,000.
3: “The telephone has too many shortcomings to be seriously considered as a form of communication.”
We often forget that there was a time before smartphones, and the ordinary landline telephone was the primary form of communication (apart from talking face-to-face of course). The man responsible for inventing the telephone was Alexander
