They got a few bookings here and there - but for the most part, things didn't go well.
So much so, that in 2008, they resorted to selling cereal to make some extra cash.
I want to share with you my personal top 5 picks for the best business strategies of all time.
Enjoy and more importantly, add your own examples in the comments below! We know them today as one of the fastest growing tech companies, valued at over $10bn, who have changed the way we travel probably forever.
They had plenty of listings on the site, and plenty of site traffic - but too few people were actually making bookings.
They were frustrated about the lack of effort they perceived in the listings people were making. The co-founders grabbed their camera, and went to knock on the doors of each and every one of their NYC listings.This is where adverts are pushed out to you whether you like it or not. In 2004, Hub Spot created a software platform that aimed to turn this concept of marketing on its head.The Hub Spot marketing platform helped companies to write blog posts, create e Books and share their content on social media.They blended these processes with the strengths of their own, and came up with something even better. Not even the most senior plant executives have named car spaces of their own.Toyota proved that knowing their own weaknesses can be the key to success - and be one of the best business strategies you can ever deploy. The humility that helped them to crack the US market runs deep in the organization, from the executives to the assembly workers. But, they're worth over bn, and more impressively, they've achieved that valuation in an industry that didn't even exist before they invented it themselves. Most of the marketing that we experience is known as 'interruption' marketing.You've probably heard of the notion of 'continuous improvement'.In the world of manufacturing, Toyota are pretty much the grandfather of exactly this.I recently wrote an article about why so many strategies fail.Today though, I want to focus on the flip-side of that coin.The theory was that if you could produce enough good quality content to pull people to your website, then just enough of them might stick around to take a look at the product you're actually selling (behind the blog). I can tell you from personal experience, that 'interruption marketing' is really really expensive. On the other hand, this blog receives approaching one million clicks per year - at a cost of zero.We pay Google around each time someone clicks onto one of our Ad Words adverts. I've written before about how inbound marketing basically saved our business - so it's fair to say that this example is pretty close to my heart!