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Fri, 16 Nov 2012 10:00:00 GMT | By Max Nisen, Business Insider
15 lessons from the greatest business failures of all-time

Don't neglect the core business that's already making you tons of money



Netscape founder Mark Andreesen made the mistake of ignoring his company's main success, its Internet browser. (© Courtesy of Computer History Museum)
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  • LA Gear, Mattel's Barbie and Kmart (© Courtesy LA Gear; Solent News/Rex Features)
  • The Myspace.com website is displayed on a computer monitor on June 29, 2011. (© Jin Lee/Bloomberg via Getty Images)
  • R.J. Reynold's 'Premier' cigarettes were not popular with consumers. (© Eric Feferberg/AFP/GettyImages)
  • LA Gear (© Courtesy LA Gear)
  • Entrepreneur Richard Branson (© Maxim Shemetov/Reuters)
  • Coca-Cola launched New Coke in response to the Pepsi Challenge. (© Daniel Acker/Bloomberg via Getty Images)
  • Netscape founder Mark Andreesen made the mistake of ignoring his company's main success, its Internet browser. (© Courtesy of Computer History Museum)
  • A scratched and worn Caterpillar logo. (© Richard Carson/Files/Reuters)
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Don't neglect the core business that's already making you tons of money

Netscape created one of the first and most popular Internet browsers. The company was constantly looking ahead, thinking outside the box. It invested in creating an entirely new programming language from scratch, and ignored its browser. Founder Mark Andreesen didn’t pay attention to the diamond mine in his backyard, which he calls a "billion dollar mistake"

There's a good reason businesses and brands are successful in certain areas. Some of the greatest leadership mistakes have come from forgetting that. 

* Video: Porn industry leaving LA?

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The one luxury that I would pay extra for when looking for a home:

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  1.  
    19 %
    An indoor swimming pool or hot tub
    84 votes
  2.  
    26 %
    Heated bathroom floors (no more cold feet!)
    109 votes
  3.  
    23 %
    A heated driveway … No more shovelling!
    102 votes
  4.  
    13 %
    A home cinema room
    57 votes
  5.  
    19 %
    Other
    83 votes

Total Responses: 435
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