Reviewing one of our latest global reports was reminded of this short story.

-1986 Brother develops a software vending machine called ‘Takeru’ (was ahead of its time).
-Internet begins to take off so product becomes redundant quickly.

-Rather than simply discontinue the product, the engineers took its content distribution capabilities and used it to launch networked Karaoke systems in Japan (1992).
-This totally disrupted the market and started Brother in the business (which it is still in).

-The business still delivers 7.7% ($430M) of our global revenues of ¥637.3bn.
-From this initial product failure came a new business (I guess a pivot in 1996 before it became trendy).
-The trick was to step back and re-evaluate everything.

-With this product initially it was right product, right time, right tech.
-Then wrong product, wrong time, right tech.
-Relaunched using the tech to become right product, right time again.
-Always remembered the story after being told it by our global CEO.

I guess the message is that sometimes failure is teaching you a lesson.

If you take time to understand what you’ll likely come out stronger as a result.

Have a good week!!