It is perhaps a little easy to make a pun or two about the death of Clear, the airport security business. It ceased trading towards the end of June. It had a lot of customers for a niche business, relatively speaking, and some good backing. But it still died.
Why? Well, we can take two lessons from the demise of this particular business.
Business Lesson One
Clear really believed what customer’s told them when they asked ‘would you pay two hundred dollars for less time in the airport queue?’ When you think about it, there are not that many reasons to answer ‘no’ to this question.
However, saying you will do something and actually parting with the cash are two different things.
Business Lesson Two
Clear wasn’t the most needed innovation in the world. Instead, it was a classic example of ‘doing something because we can’. Companies need to know there is a definite market for a product before they develop or sell it (just ask any frustrated drop-shipper). Clear was a great idea, but it wasn’t a killer app.
We can all take these two business lessons and transalate them into one big lesson for all home business owners:
Test, test, and then test again. Then test once more for luck.
The only way you can be certain you will be successful in business is if you test your product or service relentlessly.
Until next time, work smart.
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