Friday, 6 June 2014

Reach for the Sky: RTA Business on the Art of Innovation

The amazing news that Google is attempting to build an honest to goodness self-driving car, only highlights the need for creativity and ambition in business, and this week, the RTA Business blog will explore just why you need to reach for the sky if you hope to make a substantial profit on the sale of your business.

It’s not as easy as showing a potential buyer your profit margins and waiting for them to sign on the dotted line. Buyers want to know that they can use your business to build on profit margins in the long term. If you’ve developed a lucrative, innovative product that fills a gap in the market, they’ll be biting your hand off to gain access to a veritable gold mine. This is why you need to reach for the sky.

Google: A Case Study in Ambition
Google is the perfect case study to highlight the benefits of ambition. They’ve practically constructed their entre brand through sheer ambition. Time and time again, Google have attempted the improbable, or at last the inadvisable (such as introducing Gmail in a saturated market) and they have seen success that has spurred them on to new heights.

They’ve become so popular because they find gaps in the market where they can make the most money - they find the practical opening then ambitiously shoot for the stars to fill it. The numbers back it up. Since it was first created in 1998, Google, according to Forbes, has become worth a staggering $382.47 billion.

RTA Business Asks: Will the Self Driving Car Work?
So is the self-driving car a step too far. It’s certainly an ambitious project; a car that will have a start/stop button, but no controls, steering wheel, pedals etc. If it’s possible, and that’s a big if, we at RTA Business believe that it could be Google’s next highly successful project.

Google Co-Founder Sergey Brin explained why to the BBC, stating that it aims to "improve people's lives by transforming mobility". The amount of people this could benefit is sky high – disabled people, older people, people who can’t drive, blind people etc. There’s so much potential.

This is why you need to reach for the sky if you ever hope to sell your business. Find that gap in the market and truly fill it, and you have a gold mine on your hands, a gold mine buyers will flock to acquire for a tidy sum!

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