by Dr. Hsien-Hsien Lei
Posted May 8, 2008 in Business of DNA
Given my limited knowledge of how to run a business (my sister’s the Harvard MBA of the family), I’d always thought having a bigger market is the key to success (as I alluded to in my previous post, Using Dispoable Income for Genetic Tests). There is, of course, another way of increasing company profits as Steve Jobs demonstrated with Apple:
Apple’s stock has shot up more than 70% over the past year, thanks to Jobs’ strategy of focusing on his most profitable customers and coming up with new things to sell themâ€”the ultra-thin MacBook Air most recentlyâ€”rather than just chasing more market share. [emphasis added]
So what does this mean for personal genomics companies? Perhaps Knome with its $350,000 genome sequencing service isn’t too far off the mark.
NB: If you’ve got an extra $2500 that you don’t know what to do with, check out my list of DNA services you can buy with $2500.