Could You Have The Next iPhone On Your Hands? Here’s How To Take Advantage While Keeping Your Working Capital Healthy
2017 marks the 10th anniversary of the iPhone, and while we don’t know exactly what Apple has in mind for the big occasion, there’s plenty to reflect on. Even if you don’t happen to own one yourself, it’s likely that you encounter someone who has one and uses it just about every day you step out. On top of catapulting Apple to a new level of financial success, the iPhone has also fundamentally altered the trajectory of the smartphone industry.
At the time, the market was in relative infancy. When the iPhone came out, it was one of the first phones to use a slate format and touchscreen functionality. Now, you can’t see one without them! Everyone wants their business to have that level of success and impact. But to even think about that, you need to bring the parts. Things like working capital, good employees at every tier of the business, and good suppliers all play vital roles.
Items like these are not the most glamorous part of your business. It isn’t the concept or idea that will make you the next Apple. In fact, it’s not even the customer interaction that may make your day. However, any business that does not pay attention to the little things often does not succeed.
Where It All Began
January 7th, 2007. If you remember this particular keynote presentation, you may have been shocked to hear Steve Jobs talking about introducing a wide-screen iPod with touch controls, a revolutionary mobile phone, and a breakthrough internet device. These many new products at once? What we would find is that it these would all be one item, the first iPhone. Look at the original press release that Apple would end up putting out to explain what made this product so special:
“iPhone is a revolutionary and magical product that is literally five years ahead of any other mobile phone. We are all born with the ultimate pointing device—our fingers—and iPhone uses them to create the most revolutionary user interface since the mouse.”
We all now know how much this prediction would come to pass. What we don’t realize is the difficulties Jobs and his team encountered to get to this point. For example, after Jobs scratched a pre-release version’s screen with his keys in his pocket, they needed to find a new material. This would end up being Gorilla Glass. At the time, it was ready, but sitting around waiting for a commercial application. The software would also require several iterations before being ready for primetime. While the clever hype and marketing left many people at the initial launch raving over the concept of a computer in their pocket, if any one of these issues spiraled out of control, we may be writing today about a great flop. Never forget the smaller components in the big business picture.
Applying Lessons From The iPhone To Your Business
Those close to Steve Jobs, as well has his contemporaries in the business world, will often mention his uncompromising dedication to a vision. This is a lesson that anyone in business can learn from. After all, your final goal is what you base your entire business model around. Maybe you provide some type of great service. Perhaps you work to help other businesses reach their full potential. Or you may work towards putting out a great product. All of these fall into the category of a certain goal, just like Steve Jobs and his decision to turn a cellphone into an all-purpose device.
Where we can waver and shift is when it comes to how we achieve these goals. Even Apple has had to adapt to keep their great innovation competitive as the smartphone space developed. At the time, there was no GPS, or support for faster 3G UTMS/HSPA data speeds. In addition to no hardware keyboard or stylus, several critical third-party apps were not supported. The price tag was also something that many balked at for the time. Indeed, at the beginning, the original iPhone may have been a curiosity for many, rather than a must-buy. Many of these factors have changed, particularly compatibility for apps and carriers. But, some have not, and in fact, a new standard was set. As your business chugs on, don’t be afraid to listen to those around you for potential ways that you can better service your own business goals.
The iPhone In Review
So on the eve of the iPhone’s 10th anniversary, it’s important to realize that impact that one business or one product can have on the way we live. The iPhone changed the way we communicate, the way we entertain ourselves, even the way we do business. This type of impact is a goal that any business owner could aim for. However, it’s important in those formative years never to miss the basic things. Working capital is the perfect example. Make sure you don’t run your coffers dry while shooting for the stars, and you’re much more likely to get there.
If you’re looking to get funds to increase your working capital, outside funding is often key. At eBusiness Funding, we offer alternative funding solutions that you can get within days, without many of the hassles you see with loans. Reach out to us today to learn more.