The one thing that every success story has in common is a trail of failures behind it.
We have all experienced failures at some point, and of course it is okay to fail, just like Google, one of the world’s most valuable companies. But what has ultimately made Google successful? Here are 3 factors that are key to Google’s success:
- Business Model Innovation: Google has not only created a highly effective revenue generator, but it has produced what it hopes is a better experience for its users. Google’s products prioritize optimizing the user experience ahead of generating revenue.
- Taking Risks: At Google, the notion of taking risks and being vulnerable in front of others is encouraged in order to allow employees to be both open and honest as they pursue a collective goal. Although we might have seen a bunch of successful Google products like Google Search, Gmail, Google Maps and Android, the failed Google product list is just as epic. This includes Google Glass, Nexus, Google URL Shortener, Google Plus, Google Listen and many more.
- Focus on Its Strength: Google focused on its strength, which is search. This focus enabled Google to develop better search technology which later positioned it ahead of its competitors. Google’s competitors also chose to focus on other services like email, online shopping, and news which subsequently diluted their focus.
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