Running a business is first and foremost knowing how to make the right decisions. Very quickly, you can see your business go bankrupt or be in trouble because you made the wrong choice, such as selling exclusively seafood burgers or betting everything on renting electric jump ropes. It’s unfortunately this kind of bullshit that happened to the boxes of this top. Their leaders would have done better to attend my Ted Talk conference “how to become a billionaire by investing only 1000 euros a day in the herbs of Provence”.
It was a catalog sales company that sold everything, but the box decided to stop in 1993, thinking that distance selling was not working well enough. In 1994, Amazon was created with the success that we know of. Sears eventually managed to keep other markets, but mail order was dead. It’s stupid.
2. Red Lobster
The seafood restaurant brand decided one day to offer a formula for having all-you-can-eat lobster. Its leaders had said to themselves that it would be enough to take time to serve the dishes because no one would want to sit for hours eating lobster. Well, they were wrong: people were willing to be very patient to eat a lot, and the company lost a lot of money before abandoning its all-you-can-eat formula.
The Yahoo! was one of the most powerful sites for years, but after refusing to buy Google twice at a good price and then Facebook, things started to turn sour. In 2008, Microsoft offered a way out for Yahoo! wanting to buy it back for nearly 45 billion, but Yahoo! has refused. Eventually, the company was bought out in 2016 by Verizon for just $5 billion. What bad decisions. Sounds like me with my ex.
Circuit City was an American company that sold computers, video games and electronic products. It was very popular in the 1980s. The problem was that Circuit City decided to fire its expensive experienced workers to hire underpaid workers with no experience. Inevitably, it considerably lowered the quality of service of the box and sales collapsed. In 2016, the company was placed in compulsory liquidation. Quite a logical ending.
Although Microsoft is still doing very well, the company made very bad decisions in the 2000s and early 2010 when Steve Ballmer was its CEO. The guy didn’t believe in smartphones or the cloud. He still managed to swing in 2007: “There’s no way the iPhone will gain significant market share. No chance. » Fortunately, some of its mistakes have been corrected, but on telephony, Microsoft has been had by Apple.
The company had been the best-known video service since the 2000s and had almost no competition. When the Covid arrived, it should have been its finest hour, but Skype failed to put itself forward and other services like Zoom or Google Meet beat it out. It must still hurt.
In 1988, Nintendo began a partnership with Sony for the brand to create a CD player for its consoles. In 1991, Sony had created a prototype called the “play station”, but Nintendo rejected it. Too bad, in 1994 Sony decided to release its own console, the Playstation. If Nintendo hadn’t been the jerk, it surely could have prevented its biggest competitor from being born.
8. Toys “R” Us
The toy giant dominated the market in the 1990s. But in the 2000s, as the Internet became more democratic, Toys “R” Us did not want to open its remote sales site. Instead, the brand signed a deal with Amazon to supply their platform with toys. But Amazon very quickly began to market its own toys and to abandon Toys “R” Us which found itself on the floor. Because of that, Toys “R” Us had to file for bankruptcy in 2017. It’s not easy to fight Bezos.
Ayds was a brand of appetite suppressant sweets for weight loss. In the mid-1980s, it was the beginnings of AIDS but the brand did not want to change its name, saying that it had existed for 45 years and that it was up to the disease to change. name. As a result, just a few years later, its sales had collapsed by nearly 50%. AIDS has (unfortunately) been stronger.
In 2012, the car brand hired driver Kimi Räikkönen for two Formula 1 seasons. In addition to his salary, Lotus promised the driver $50,000 for each point he scored. Only, Räikkönen was very good and scored 390 points in two seasons. Lotus, who hadn’t planned for it at all, had to give him 19.5 million and it almost put the company out of business.
In the 1980s, McDo tried to sell pizzas, but nothing was right: the cooking time was too long, the price was too high, people were too used to eating burgers, and the pizza box did not pass. not by the counters of the drive. It was a fiasco and the brand quickly stopped the costs. McDonald’s pizza, you had to guess that it was a bad idea anyway…