I recently read a fascinating story in The Huffington Post on how some very well-known companies got their start in different markets than they’re known for today.
Did you know that American Express used to deliver mail? Or that Taco Bell originally started as a hot dog stand? Or that Samsung used to make their own noodles?
What this suggests to me is that sometimes the most successful direction for a company is away from its origins and into new or adjacent markets. The key to success for many of these companies was a combination of listening to customers, adapting, and innovating. In today’s highly competitive markets, companies that thrive are doing the same thing. It will be interesting to see where some of today’s leading companies end up in 20, 50, or even 100 years.