Great piece - the large market trap is real. I've seen it in tiny companies (like you said - on Shark Tank...if we only get 1% of the global flip flops market...) and in giant companies (if we just get 1% of Chinese consumers to buy...). I'm always more intrigued by a startup that thinks it can win 50% of a small market (and then grow) than win 1% of a giant market (which they will not do).
*cheerful tone, talking with a smile* "You've got questions, we've got answers. Thank you for calling Radio Shack. This is Troy, how can I help you today?"
I worked at "The Shack" for about 3 years in the early-to-mid 90s. I had the little notebook in my shirt pocket, shined shoes, and the whole 9 yards. I still remember some of the stock prefixes for the more popular things like batteries, coaxial cable, and telephones.
I had to ask for phone numbers, but I prefaced it with more than just a blank stare. Suffice to say there were a LOT of 408-555-1212 entries in the database. My selling point on the information was when people were buying "bug butt" RCA TVs and those expensive CD players, when any return, repairs, or issues came up, the number was required on file to tie to your purchase. The tougher sell was the TSP (Tandy Service Plan). I was reasonably good at that too, especially with cell phones (Nokia, Ericsson, Motorola, Sanyo). When people pulled the antenna with their teeth, the stem would come out, or the little knob/top would pop free. Don't let the baby swallow it!
In all, I loved my time there as a salesman, learned to tie a necktie while steering with my knee - driving to a relatively thriving mall store called Eastridge in San Jose, CA. Did you know they had letters associated with the stores? A Y store and a V store were staffed, stocked, and compensated differently.
I also have a coffee mug from one of my key accomplishments of selling $5,000+ in one day - computers, cell phones, and home theaters were my jam; y yo hablo Español, so I was in high demand.
One level deeper, Tandy was originally a leather company, and they had an original Tandy shop in San Jose - people could buy it for upholstery, projects, etc.
In an interesting aside that most assuredly has almost nothing to do with anything, I also had multiple grandfathers; five, to be exact. One died before I was born and the other four were at various times married to my other grandmother. Yes, four, two of whom I never had the pleasure (or displeasure) of knowing. There. Enjoy the rest of your day.
Most of the additional grandmothers and grandfathers came and went before I was born. One of the grandfathers mentioned above was married 4 times. Though he lived well into his 90s, so maybe that's not THAT many times?
RadioShack was one of my dad's favorite stores. It seemed every mall in America had one.
I wrote a similar piece a few years back, exploring precisely the strategic options RadioShack had and what i thought was a missed opportunity. https://theadaptivemarketer.com/2016/07/07/radioshack-strategy-a-lesson/
Great piece - the large market trap is real. I've seen it in tiny companies (like you said - on Shark Tank...if we only get 1% of the global flip flops market...) and in giant companies (if we just get 1% of Chinese consumers to buy...). I'm always more intrigued by a startup that thinks it can win 50% of a small market (and then grow) than win 1% of a giant market (which they will not do).
*cheerful tone, talking with a smile* "You've got questions, we've got answers. Thank you for calling Radio Shack. This is Troy, how can I help you today?"
I worked at "The Shack" for about 3 years in the early-to-mid 90s. I had the little notebook in my shirt pocket, shined shoes, and the whole 9 yards. I still remember some of the stock prefixes for the more popular things like batteries, coaxial cable, and telephones.
I had to ask for phone numbers, but I prefaced it with more than just a blank stare. Suffice to say there were a LOT of 408-555-1212 entries in the database. My selling point on the information was when people were buying "bug butt" RCA TVs and those expensive CD players, when any return, repairs, or issues came up, the number was required on file to tie to your purchase. The tougher sell was the TSP (Tandy Service Plan). I was reasonably good at that too, especially with cell phones (Nokia, Ericsson, Motorola, Sanyo). When people pulled the antenna with their teeth, the stem would come out, or the little knob/top would pop free. Don't let the baby swallow it!
In all, I loved my time there as a salesman, learned to tie a necktie while steering with my knee - driving to a relatively thriving mall store called Eastridge in San Jose, CA. Did you know they had letters associated with the stores? A Y store and a V store were staffed, stocked, and compensated differently.
I also have a coffee mug from one of my key accomplishments of selling $5,000+ in one day - computers, cell phones, and home theaters were my jam; y yo hablo Español, so I was in high demand.
One level deeper, Tandy was originally a leather company, and they had an original Tandy shop in San Jose - people could buy it for upholstery, projects, etc.
Given that, it seems statistically probable that your grandfather married my grandmother at least once. Cousin.
In an interesting aside that most assuredly has almost nothing to do with anything, I also had multiple grandfathers; five, to be exact. One died before I was born and the other four were at various times married to my other grandmother. Yes, four, two of whom I never had the pleasure (or displeasure) of knowing. There. Enjoy the rest of your day.
Most of the additional grandmothers and grandfathers came and went before I was born. One of the grandfathers mentioned above was married 4 times. Though he lived well into his 90s, so maybe that's not THAT many times?
Have you heard the Dr. Demento musical nugget called "I'm Own Grandpa"? Here's the Willie Nelson version: https://www.youtube.com/watch?v=bkX7IW7jpMw