by Keiran Taylor / 04/12/2019
Let me start by posing an interesting question. As a business owner, what would you do if you had a machine that could make widgets without the need for any raw materials? Consider this scenario: You come into work in the morning, crank the handle and out pops a widget that you can take to the market and sell, and it cost you nothing to make. My guess is you’d probably start cranking the handle as much as you could. A year later, however, there seems to be a problem. You’ve created so many widgets that everyone who needs one has one, no one is buying them anymore, but you still own a machine that makes them for free. What do you do now? You either go about creating a new market for them and encouraging everyone who has one that really, they need 2 or 3; or you convince the people who don’t need them that they do really.