$12.3 billion and climbing Forbes suggests that the net worth of James Dyson, inventor of the Dyson vacuum cleaner, currently sits at $12.3 billion, and it continues to rise. This makes Sir James one of the wealthiest men in the world. Dyson’s wealth was built on the phenomenal success, of the Dyson vacuum cleaner,the Dyson […]

$12.3 billion and climbing Forbes suggests that the net worth of James Dyson, inventor of the Dyson vacuum cleaner, currently sits at $12.3 billion, and it continues to rise. This makes Sir James one of the wealthiest men in the world.Dyson’s wealth was built on the phenomenal success, of the Dyson vacuum cleaner,the Dyson Airwasp Styler, Supersonic hairdryer, heater, and several other products.The Dyson group has not built its strategy around identifying opportunities for new products and services that consumers may or may not want – but rather on identifying problems with products that are already selling in volume and then solving the problems identified.There are several advantages in focusing on solving the problems with existing products rather than identifying opportunities for new products. These include: Demand for the product has already been established The potential impact of changes made can be quantified When a new product is created, it…