Iteration Mon, Nov 16, 2015
Can you name one of the most successful consumer products, if not, the most successful, in terms of units sold and total sales?
Hint #1 - There are a few of them in our office.
Hint #2 - The company that produces them had a record net profit in Q4 of 2014. This company reported the largest net income of any public company over 1 quarter in the history of the United States.
If you guessed the Apple iPhone as the consumer product I am referring to, you are correct. In the 4th quarter of 2014, Apple sold over 74 million iPhones. The iPhone was first released in Q3 of 2007. Can you guess how many units it sold then? It was not even close to millions of dollars or millions of units. Apple sold about $270,000 worth of iPhones in Q3 of 2007. To put those numbers in perspective, that's about $70,000 more than we raised for the Survival Belt, which was also over a 3 month period.
Think about that, if you would have looked at those iPhone figures at the time in '07, some people would have quickly written it off as a setback or even a failure for Apple. The first generation took a few minutes just to turn on and weighed significantly more. These are just 2 of the numerous differences from the current version.
One of the crucial aspects of why sales steadily climbed to record levels was because of Apple's commitment to revising and improving their products. Great companies constantly refine their products, improve their services, shift their approaches, seek out new tools and solutions, etc. However, it all begins with the mindset of its employees and a culture that embraces a strong commitment to improvement. Keep iterating and taking on challenges!