As I was driving to work the other day I heard on the radio that Apple had announced record profits of £4.5billion in the last quarter of the year, 12% up on the same period last year. It worked out that Apple sold 34,000 IPhone’s an hour, which helped them seal their authority as the most profitable company in history with over $178billion in cash assets alone.
Amazingly on the station I was listening to the debate on Apples success was led by sceptics who were putting all of their energy into asking questions about the amount of tax they should be paying? Is their cash mountain a liability?
How on earth can they carry on at this rate and that shareholders should sell sell sell as this is obviously a bubble that will burst any second. I on the other hand was concentrating on the positives of Apples success and exactly how they got there even with the very sad passing of Steve Jobs in recent times. I personally think that there are two massive things that no one in the UK has (as per usual) bothered to talk about as it is a good news story. The first is why are so many people choosing an IPhone which was mainly responsible for these huge profits over any other smart phone?
Most people would argue because they are the best in the world, although we know that this is not necessarily true, after all there are plenty of other devices that match and in many cases surpass the IPhone on capability.
Take the waterproof Sony Xperia or the Samsung Galaxy S5 for example, with its ultra-power saving mode, removable battery and even a multi window which enables the user to bring two apps up at once.
The real reason we all flock to the Apple store to get our hands on the latest handset is because of the Apple brand! Apple also took its brand to their biggest potential customer in the world and didn’t wait for them to come knocking, smart phone sales in China have always been dominated by local firm Xiaomi that was until Apple marketed their brand in China. Apple invested in its relationship with the Chinese (all 1.3billion of them) and is now reaping the rewards as the biggest smart phone producer in the Far East.
Well, how can we follow Apples amazing example, learn from them and do the same in our own business? Apple is a global brand and most would think that I am crazy to compare any of us to them, although one day they were a small business too with great aspirations just like us. When I first set up in business things went very quiet as a sole market trader, in fact things got that drastic I had to do something new or cease trading, so I had an idea. They say that a picture speaks a thousand words, although I hope that the one of my first ever van I have included this month simply says that I made the first step in creating my very own brand.
A sign written van was my way of creating brand awareness of my business and logo along with a vehicle to take my business to the customer and launch into wholesale. Steve jobs will be remembered for many great things, including being an amazing family man and donating over $50 million dollars to Hospitals in his home town, although above all his legacy will be for creating the most successful company in the world, along with, of course, the most successful brand!
I went out there and got stuck in for my own bite of the Apple, I hope you guys are doing the same!