Adobe Business Strategies
Coming from $1.7 million revenue in 1985 to over a billion in 1999 put Adobe Systems Inc., as one of the fastest growing and successful companies of the period, a growth which has continued up to this time. Below are the strategies, ideas and decisions, which the managers of Adobe came up with and implemented to start and grow their business to the monumental success it is today, and which you can also adopt to your own business.
Industry Knowledge is Important
Businesses cannot be started and run successfully on trial and error basis, a deep knowledge of the industry is needed before getting into it. This will enable you to identify the serious needs of your target customers to be met, and how best to deliver the solution to them.
Adobeâ€™s immediate success from the beginning was based on the foundersâ€™ huge expertise of the industry, which they gained from many years of working as software development and graphics researchers for Xerox Inc.
Identifying a Dire Problem to Fix
A business that provides solution to a critical problem will receive instant acceptability, compared to another business which meets a not so severe need that people can do without or find alternative to. The success potential of your business will therefore depend on how important the product or service you are providing is to the target customer. Therefore, identify a dire need in your industry to focus on meeting for your market.
Chuck Geschke and John Warnock founded Adobe because they discovered a serious need that people had in the early 1980s printing out documents from their computer systems â€“ getting their texts and images to come out the same way they looked on the screen when printed.
Serving a Huge Market
The growth of your business will be largely dependent on the size of your market. The larger the population of people who need your product or service, the more your business can grow and make money, and vice versa. In deciding to go into business therefore, find out if your market is reasonably large.
Adobeâ€™s market was huge, and global, and this reflects in the astronomical increase in the companyâ€™s revenue year after year.
Continuing Creating Innovative Products
To remain fresh in customersâ€™ minds and top of the competition, your business needs to continue to create improved products that give more value to the customer than those that existed before. Consumers generally want more value for their money, and so will find your offer more attractive.
The continued leadership of Adobe in its industry is as a result of the companyâ€™s continued creation of innovative products all through the few decades it has existed. Adobe Illustrator (1987), Photoshop (1989), Adobe Premiere (1993), PhotoDeluxe and PageMill (both 1996), Adobe Dreamweaver and Flash, are just some of them.
Piggy-backing On Existing Successful Companies
One way your business can succeed quicker than it would have is to find a way to use established platforms or channels of successful and respected businesses. This will not only save or make you money, as it exposes your business to your hostâ€™s pool of customers, the respect accorded to your host will rub on you too.
Adobeâ€™s business spread quickly locally and internationally and its revenue soared because of its strategy of granting license to established businesses to incorporate its software products into their own products for their markets.
Observing Changes in Your Industry and Taking Position
A crucial business strategy you must adhere to if you donâ€™t want your business to be rendered irrelevant with the passage of time, is to be keenly observant of changes, technological, social, or cultural, taking place in your industry. These changes can make your product or service no longer useable overnight if you didnâ€™t see the changes that were occurring.
By observing the changes taking place, you can adjust your operations accordingly and position your business to reap from the new opportunities that would evolve.
Adobe has been able to develop many cutting-edge technologies over the years from noticing the changes that were going on in its industry. Some of such products include Adobe PostScript , Portable Document Format (PDF), Dreamweaver, Flash, Flex, and Flash Media Server.
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