The Venture Edge

I recently read an article on dailyfinance.com about the 10 biggest brand disasters of 2010. As I read through the article, I realized that entrepreneurs and small-business owners and execs can learn some important lessons from the missteps of these global giants.  

If there's one thing I love about the Internet and blogs, its the immediacy of the information. Something happens somewhere in the world, and five minutes later you can not only find 10 or 20 articles reporting the facts, but even more bloggers reporting their own take on what happened -- often with insider information. Apple's iPhone 4 antenna problems are now widely known, as is the company's response, which was first to deny that there was a problem, then to pooh-pooh it, and then to hold a press conference last week in which Steve Jobs (who took a break from his Hawaiian vacation) admitted that there was indeed a problem and that Apple would provide "bumpers" to iPhone 4 owners for no charge to fix it.  

I admit it. After years (decades?) of being wrapped in the thrall of the Microsoft/PC world, I am now firmly planted in the wonderful world of Apple. In my case, it started with my kids -- they're the ones who first brought iPods and iTunes digital music downloads into our home, back when I was still hooked on CDs and the Sony Walkman. Then it was my daughter who convinced my wife and I to buy her a MacBook laptop computer, and next my oldest son who bought himself a 24" iMac desktop computer. Finally, the last straw was when my wife bought an iPhone. While I had stood on the sidelines during this steady Apple-ization of the Economy household, I could stand by no longer. I bought my own iPhone, realized what an amazing device it is (no other phone comes close), and I have now taken an oath of eternal allegiance to Apple. To seal the pact, I recently ordered the new iPhone 4 and there's a shiny new 27" iMac i5 on my desk. 

As you may have noticed by now, the Apple iPad is by most estimates a smash success. Apple sold more than 1 million iPads in its first month on the market, and the sexy gadgets continue to fly out of Apple Stores across the country. And now that Apple has established a beachhead in the marketplace, it appears that consumers are increasingly coming to the realization that they need either an iPad, or something like it. According to a survey conducted by Boston Consulting Group, 50 to 75 percent of consumers worldwide will purchase such a device within the next three years, assuming prices migrate south to the vicinity of  $150 or so. Of course, with the sweet smell of Apple's success hanging over the industry, other companies are getting ready to launch touchscreen tablet computers of their own. Samsung, Hewlett-Packard, Dell, and AsusTek all have units in development and close to market.

If you happen to have an Apple iPhone, you probably very well know the power of the app -- those little software programs that allow you to do things with your phone that you never imagined you'd ever do with a phone. On my own iPhone, I have apps that let me check my bank accounts (BofA), view weather radars anywhere in the country (Accuweather), track all my airplane flights in real time when I'm traveling (FlightTrack), view and download (or email) any file I choose on my desktop computer -- from anywhere in the world (SugarSync) -- find a taxicab (Taxi Magic), get recommendations for local restaurants (Yelp), book reservations at local restaurants (OpenTable), and much, much more. It's truly amazing what iPhone apps allow you to do, and it's the reason why I'll never switch to another phone -- at least until something better comes along. However, with more than 185,000 different apps currently available -- and more being added each day to Apple's iPhone arsenal -- I personally believe it's going to be a very long time before something better does come along.

Apple just announced its long-awaited tablet device and they've dubbed it the iPad. Upon hearing this,  I immediately tweaked a number of my female friends to see if they were laughing as hard as I was.  They were.  I guess Jobs thought it was time to bring feminine products into the digital age. 

Today I fired up the Wall Street Journal app on my iPhone and was greeted with the following message: "Your trial period to subscriber access ends next week." You see, I have enjoyed reading the WSJ on my iPhone for free ever since I downloaded the app nine months ago. Unfortunately, that little pleasure will soon end, as Rupert Murdoch and News Corporation have decided that their bottom line needs a boost. However, I am not willing to pony up $50 a yearfor the privilege of reading this particular newspaper on my phone, so they will not be getting a boost from me anytime soon.

Last month Kathy posted on the topic of where to start your business, citing a recent Fortune Small Business and Kauffman Foundation report titled "Best Places to Launch." While Kathy (and Fortune and Kauffman) certainly have a point -- that some areas of the country may be better than others to start and grow a business -- I think there's more to it than that.