Learning from Other Industries

Greetings.  I often write about the simple and sensible power of learning from other industries.  It can be a wonderful way to innovate, deliver compelling value and improve your top- and bottom-line results.  And here's a delicious example to spark your thinking at the start of the week…

We all know that cupcakes–yes, cupcakes–are one of the hottest trends (or fads) in today's world of food and desserts.  In fact, gourmet cupcake shops have become must-visit destinations in some of America's best cities for creative food and fine dining.  And we also know that ATMs–a.k.a. "Automated Teller Machines"–are an important feature of the global banking landscape.  They're an essential spot for getting money, making deposits and handling a wide range of other financial transactions at any hour of the day or night.

So why not combine the two?  After all, don't people need fresh, delicious and expensive cupcakes 24/7?

Of course they do, and the innovative team at Sprinkles–a leader in the modern cupcake business has done just that with their remarkable "Cupcake ATM."  It's a machine so hip, inviting and easy to use, that anyone with a late night craving for one or more freshly-baked and super-haute (pun intended) cupcakes is simply a credit card swipe away from sugary nirvana…long after the bakery has closed for the day.  And the initial results from the first machine–located at the company's Beverly Hills location–are tastefully impressive.  In fact, the machine is selling an average of 1,000 cupcakes a day at $4.00 a pop.  Now I know that you're instantly thinking "this is Beverly Hills," but imagine the number of serial cupcake eaters in your hometown and the possibilities are ginormous.

But more importantly, what could your company or organization combine with the concept of an ATM or another idea from a different industry to create greater value for your customers?  It's a notion that is definitely worth the time it would take to round up the geniuses you work with for a bit of fresh (and even moist) thinking.

We win in business and in life when we find inspiration in the brilliance of other industries.  And when we make the lives of our customers a bit sweeter.

Cheers!