|
Author: Caroline Jordan Article source: http://thejordanresult.com/. Used with author's permission.
Gather round while I tell you the story of Kennebec Ice. It's a story full of valuable business lessons even though it happened long ago.
Once upon a time, before the invention of modern refrigeration, folks kept their food cold by using large blocks of ice. That ice was readily available to residents of my state, Maine.
(For my friends in other countries, Maine is the northeastern-most state, bordered by New Hampshire, Canada, and the Atlantic Ocean. We have very cold winters and the ice freezes deep into lakes and rivers.)
Now, residents of Maine didn't think too much about ice other than for their own use. Ice was just a part of life, no big deal. During the economic depression that followed the Civil War, ship's captains in Maine had a hard time finding enough cargo to fill their ships. To compensate for the lack of cargo
the ship's crew substituted large blocks of Maine ice to act as ballast. The ice was covered with sawdust to help slow the melting process. This need for ballast created a new market for ice.
When the ships arrived in tropics and sub-tropics, it was discovered that the ice being used as ballast was a valuable product to the residents of those regions. They were willing to pay for that ice. Cutting and shipping ice to other parts of the world became an industry for Maine. This new market saw ice being shipped to China, India, Cuba,and many other places.
Now, somewhere along the way, through some clever promotion, the ice harvested from the Kennebec River in Maine became known as "the best ice". Consumers thought it was higher in purity and health benefits.
There are many rivers and lakes in Maine, all of them produce ice. There really wasn't much difference at the time, all the lakes and rivers were clean enough to drink from, but the perception was that Kennebec Ice was the best. People were willing to pay more to get it.
Because Kennebec Ice was the best, ice companies all over the world started referring to their ice as "Kennebec Ice" even though their ice might come from Kansas or New York. Kennebec Ice was the gold standard for ice.
And then along came modern refrigeration. The ice industry died out and Maine residents, who are always resourceful, moved on to other industries to support their families.
So, here are our modern day business lessons from the story of Kennebec Ice.
1. One product can have many markets and
uses, even a product as simple as frozen
water.
2. The things we take for granted may be
valuable to others.
3. Becoming the gold standard increases
business and allows you to charge a
higher price.
4. It's important to protect your brand to keep
it from being cheapened and compromised
by others.
5. Watch for trends that tell you it's time to
get out of the ice business and develop new
products or services.
Of course, the ice business is still alive and well in the modern world, driven by a new industry--tourism and recreation. So, next time you fill your cooler,think of the humble ice cube and the proud part it played in creating business history. Caroline Jordan, MBA delivers icy cold business advice in a frosted glass to self employed professionals in the desert-parched land of business ownership. For more tips and strategies to create a successful, thirst quenching business, attract a deep pool of customers you enjoy, increase your cash flow river, and develop additional streams of refreshing revenue visit http://www.TheJordanResult.com
7 Persuasive Reasons Why Men Should Shave Their Privates
Here are seven reasons why men should consider shaving their privates. No, I'm not talking about Privates in the Army, although a "soldier" at attention, with ...
Ten Benefits of Having a Relationship Coach
As a Master Certified Relationship Coach, I work with singles to help them attract a great match and with couples to help put their relationships back on track....
Can Weight Loss Improve Your Health And Make You Feel Better?
Many people today are interested in weight loss and weight loss programs. Sedentary life styles and lack of exercise have contributed to a general trend toward ...
How to Have Longer Sex Easily
When it comes to sex, you want it to last a long time. Most women take a good deal longer than men to orgasm from vaginal penetration than men do from sex. That...
What is a Forex Broker?
A Broker is an individual or firm that acts as an intermediary between buyer and seller. Forex brokers are firms that deal in foreign exchange. The foreign exch...
Choosing the Best Sites for Your Wedding and Reception
Remember, it's your wedding and your dreams. Do not give in to family pressure or be tempted to take the first place that comes along. Do your homework and you ...
All Natural Weight Loss Secrets Revealed
You don't need to spend hundreds of dollars on the latest diet craze or newest drugs(with awful side-effects, I might add) to lose weight quickly and effectivel...
21 Questions To Assess Your Readiness For Time Management
How many of us are guilty of "Putting the cart before the horse?" Much is written on HOW to manage your time (the load in the cart) while little mentions the fi...
Class Action Lawyers Are Criminals
Class Action Trial Lawyers are criminals, as their profession is an over all tax on society and each lawsuit takes its toll on our civilization. Often class act...
Detect Spyware Online
Find out how you can detect spyware by using free cleaners online to remove any spyware programs running on your computer.
Delaware Real Estate – Living on the Water
A classic Atlantic state, Delaware is known for beaches and towns on the Atlantic Ocean. Delaware real estate prices aren't bad and appreciation is excellent.
Free Casino Gaming Offers All the Thrills of Las Vegas
Are you one of those people who think it's impossible to find a free casino...
Staying In The Game
The message came from Human Resources. There's nothing to worry about with the newly announced organizational changes and pending merger, it reassured. The chan...
Two Things You Need To Know About Prepaid Debit Cards
Another new use of prepaid debit cards come from the currency exchange companies, better known as remittance services. The usual remittance companies such as W...
20 Ways to Blow a Sale
There are so many ways to make mistakes selling! I have made them all for you ... all you need to do is understand what they are and to avoid them!
Internet Marketing Strategies
The right strategies to win a share of the Internet pie. Every move in life needs a sound strategy to succeed. Now that you are keen on making some serious mon...
Save Money – The Crock Way
Saving money - is something we would all like to do. Whether you are struggling to manage day to day or earning a six figure salary, saving is something we all ...
Seven Pitfalls That Cripple Weight Loss
Today, many people struggle to find the right answer to permanent weight loss. Instead of focusing on long term success, they hope for quick solutions. Learn ...
Amazing Secrets Of A Little Known Traffic Generation MASTER
So, you've set up your first website in the hope that you can attract more visitors to your business. You've worked a few months planning, designing, developing...
Goal Setting and Goal Getting: What Would You Like to Accomplish in 100 Days?
What would you like to have accomplished 100 days from now? Why 100 days from now? Well, why not? Besides, 100 is a nice round number.
Offline Advertising Secrets: Using Offline Advertising to Get the Most from Your Name Squeeze Page
Find out how to use offline print advertising to drive traffic to your website.
Shorten Your Blogging-RSS Learning and Submission Curve
How to blog for traffic and sales. Get thousands of incoming links to your sites! Blogs and RSS boost your online business, rankings, traffic, and sales. Blogs ...
Taking Panoramic Landscapes - The Easy Solution
There's something very appealing about panoramas. Traditionally, they've been hard to take. Now anyone with a PC can create stunning panoramas with just a few m...
Why Choose a Secured Personal Loan?
Listed below are some of the many reasons why you should choose a secured personal loan.
|
Print this page