The Innovator's Solution: Creating and Sustaining Successful Growth (Creating and Sustainability Successful Growth)

by Clayton

Whereas the established industry leaders in accounting software enabled small-business managers to run all sorts of sophisticated reports for analytical purposes, QuickBooks, which was a derivative of Intuit’s personal finance software product Quicken, basically helped them keep track of their cash. It created a huge new market among very small business owners (most with fewer than five employees) who historically did not keep their books on computer. Within two years of launch, Intuit had seized 85 percent of the small-business accounting software market—mainly by creating new growth. The stealing of the established companies’ customers came later, as QuickBooks’ functionality improved.