Make Lemonade

Many times, what you think is going to be a great new product or business doesn't quite work out the way you thought. Then you have to get creative...

That's what the folks at Flagler Productions did. They were the long-time video production company for internal Wal-Mart events. Wal-Mart made up 90% of the company's business. The owner sold the company to two employees. A short time after the purchase, Wal-Mart informed the new owners that Wal-Mart would no longer be needing the company's services.

Now what? After Wal-Mart counter-offered $500,000 instead of the $1 million for which Flagler offered to sell the video tape library, the new owners decided to see if there were other potential buyers. According to the Wall Street Journal, "Flagler now is becoming a must stop for a variety of parties interestedin Wal-Mart. Critics of the company have been looking there for clipsthat support their views." Flagler now offers video research for an hourly fee and will sell specific clips.

So, before you throw in the towel when a new product or service doesn't quite work out...get creative.