There are as many successes as there are failures in the world of entrepreneurship. The line between success and failure is so thin that one quality product that uses the most advanced technology available may fail, while a more modest product may find wide success simply because it appeals to the right audience.
The industry of video games is likely one of the best places to see this happen. The numerous video games inspired by other media, peripherals and consoles that have found success and failure showcase some of the best examples of how entrepreneurs have succeeded and how they have failed with an amazing product.
An Example of Appeal Over Technology
Having the latest and greatest technology available can certainly improve the consumer’s experience when they play it, but only when those bits of technology are proven to be worth the extra cost that things like GPS functionality, vibrating controllers, and internal motion sensors add.
One of the best and more recent examples of customer appeal triumphing over new technology is the Wii by Nintendo.
It was originally announced in a time when Sony was focusing on creating a console that could compete with the same level of sophistication that high-end personal computers could put out. Add in the fact that the Xbox was just beginning to experiment with peripherals like the Kinect to understand that two of the three big console giants of gaming had their minds set on technological innovation.
The Wii had a different path in mind. Rather than inflating the cost of the console with addons, Nintendo chose to keep the costs modest to appeal to a broader crowd of gamers. They even provided a new focus on health consciousness, which was received overall positively by customers.
When the Best Intentions Fall Short
New technology has helped consoles, handhelds and even video games themselves to succeed. The guitar controller for the Guitar Hero series, the Wii U’s tablet controller and even the Kinect are all examples of technology that has driven customers.
The Gizmondo is likely the most prominent example of where even the best intentions fell short thanks to a variety of unfortunate events. While it had the ability to play videos and to launch various applications, to send text messages, and to play modern games, numerous shortcomings on the business side of things caused the Gizmondo to fail.
Carl Freer was the man whom came up with the idea for the Gizmondo. It was affordable. It had so many features. It even ran Windows CE.Net with the use of an Nvidia graphics accelerator. Everything about it meant that it should have appealed to the right groups.
It was a device that was ahead of its time.
The problem was that the Gizmondo, while one of the most advanced consoles for its time, had few prominent titles to draw in the right audiences. The lack of developers willing to create games for Tiger Electronics’ handheld allowed what likely would have succeeded if released today to fail.
Couple this with the unfortunate fact that the Nintendo DS and the Sony PSP were just around the corner to understand why consumers refused to quickly flock to the Gizmondo.
The Fine Line Between Success and Failure
There is an incredibly fine line between success and failure when entrepreneurship is involved. Choosing the right environment, appealing to the correct audience and keeping your product focused on one purpose are all key elements to achieving the kind of success most desire.