Wednesday, December 10, 2008

Finding a Need and Filling It

Whether you agree with his business or not, you have to admire Hugh Hefner. On December 10, 1953, Hefner published the first Playboy magazine. He invested $7,600 and edited the magazine on the kitchen table in the apartment he shared with his wife and infant daughter.

The first issue didn't have a publishing date on it. Hefner didn't think he'd be able to publish another issue. Two years later he had a staff of 30 and published out of his office/apartment in downtown Chicago.

Simply taken as an entrepreneurial venture, Playboy Enterprises was wildly successful.

Recently, Christie Hefner, the infant daughter now grown up, announced that she was stepping down as CEO of Playboy.

Hefner made a fortune and achieved icon status by filling a need in a creative way. In tough economic times there are still needs to be filled and fortunes to be made.

What need do you see that needs to be filled?

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