Back in the day of corded headphones and cellphones that fit comfortably in your hand (think iPhone 4), David Barnett found a problem: headphones getting tangled, mangled, lost, forgotten, or all of the above. This was a problem many of us can remember, and a problem most of us no longer have. But what we might not remember, is that the colorful circles on the backs of our phones started out as a solution to the headphone problem, not as a way to keep our now much larger phones in our hands.
The story of Popsocket is one saturated with examples for the modern entrepreneur:
- Problem finding- the key to entrepreneurship is finding a problem, not solving a problem. Once a problem can be identified, defined, and redefined, it can more easily be solved. The challenge is in finding a problem. Barnett did this first by designing a spool-like accessory that would universally fit all phones conveniently and ergonomically.
- Adapting- as corded headphones have become less and less popular, popsockets have become more and more popular. This raises a question: why? Because the Popsocket design adapted to a changing need and a changing customer base. Now, we no longer think of popsockets as a spool for our headphones on the backs of our phone; it’s a way to keep our now-much-larger phones in our hands.
The power of adapting is incredible. From mid-2015 (a year after Barnett first announced Popsockets) to mid-2018, the revenue of PopSockets LLC grew by 71,424%. Barnett was not benefited by any venture capital investments; this growth was fueled solely by the popularity of the product. Consider the changes in phone design and customer needs between 2015 and 2018- the iPhone 4 was smaller than the average adult’s hand at about 4.5 inches tall, while modern phones are as large as 6-7 inches tall. Also consider the changes in headphone design between 2015 and 2018- Apple AirPods had not yet been released, and wireless headphones were far from mainstream. Now, wireless headphones are extremely popular (for good reason), and corded headphones are largely a thing of the past.
Further innovations and adaptations include: bottle openers, AirPods holders, car mounts, bike mounts, PopSockets for drink containers, tripod stands, wallets, keyrings, and more. Despite the problem Barnett set out to solve not really existing anymore, PopSockets has remained extremely profitable, with reported revenues in 2018 over $200 million.
I am rather impressed that Pop Sockets were able to adapt to the changing industry so well. It is very important for businesses to adapt to change, because if you don’t, you won’t last long. Just look at Blockbuster.
The story of Popsocket is really interesting to me! I, myself, used to use a popsocket for a long time on the back of my phone because I had switched from an iPhone 5 to an iPhone 8 and was not used to holding the bigger phone. I also did not know that popsockets were originally created to help headphones from getting untangled! The adaptability of this product is extremely impressive; As phones changed and new products such as the AirPods were released, the function of the popsocket changed to meet the needs of consumers!
I think the creation story of Pop Sockets is fascinating! I used to own Pop Sockets and put them on the back of my phone because i would always drop it. The pop socket helped me grip my phone better and not drop it, saving me from a cracked screen. I think it’s interesting that Pop Sockets were designed to help with our headphones. I also think that their company’s sales increased after making necessary changes to adapt to consumer’s needs!